SPECIAL SUPPLEMENT � EL ECONOMISTA � SATURDAY, JULY 23, 2016 ENGLISH TRANSLATION OF THE SPANISH ORIGINAL

part ii Happiness and Innovation

The age of oil is ending and the UAE has The Hub already announced that it will be celebrating its final barrel of crude. Having committed to of the New renewable energies, the country maintains its leading status as one of the global hubs Silk Road for passenger and freight traffic

Real Estate Aviation Economy District One, the new South, Spain’s role as a bridge to Latin America luxury neighbourhood a 29-billion-euro in the heart of Dubai aerotropolis is attractive to the Emirati state In 2016 Meydan Sobha will Khalifa Al Zaffin, executive Mohammed Al Shehhi, UAE’s secretary deliver the first phase of its chairman of DACC: “Who would not of estate for the economy: “There are residential project, open for like their business to be next to the big opportunities and promising areas of purchase by overseas investors biggest airport in ?” cooperation with Latin America” 02 Opinion SPECIAL SUPPLEMENT � SATURDAY, JULY 23, 2016 � El economista SPECIAL SUPPLEMENT � SATURDAY, JULY 23, 2016 � El economista a www.mymmerchan.com production Opinion 03

leading destination for capital from per El Correo del Golfo has been view in recent years, it’s best not to through by experts are taken up to stands at 3.15 million barrels per This new home will bear testament engineer from the University of neighbouring countries. The emira- published daily since 2012 “with hold out too much hope”, the press the top floor for consideration. This day, putting it 12th in the world, to the company’s great power, but California – has seen an immedia- te opted for economic diversifica- an average of 450,000 monthly vi- department chief warned us. We year’s dictum is to focus on France, according to its own calculations]. the future the Sheikh has in mind te restructuring of boards in many tion many years ago, with commer- sits”, according to editor Rafael Pé- were certainly learning the lesson; Russia and China. Italy’s airspace ADNOC is soon to move into its for Abu Dhabi is not stuck in crude, of ADNOC subsidiaries. The age things take time here! It is almost industry is also seen as “extremely” new headquarters, Abu Dhabi’s but rather based on a diversifica- of oil is ending and the time of as if the idea is to put people to the interesting. tallest building positioned on La tion strategy – as laid out in the go- renewables is underway. Al Jaber test – and he who is able to enjoy is no newcomer; in 2006 he direc- “Only in the the true hospitality of the Arab One of the president’s men ted the strategy and led the launch infrastructure sector, people in an unhurried manner The last time that the Spanish go- We were certainly learning the lesson; things take of Masdar, a Mubadala initiative shall emerge victorious. We can vernment had an official meeting time here! It is almost as if the idea is to put people to boost the use of clean energies albeit late in the stake our claim to having enjoyed with Mubadala was during the fi- in the UAE and beyond. He still it! For example, each time we tur- nal visit made by King Juan Carlos to the test – and he who is able to enjoy the true heads Masdar’s board of directors. day, have people ned up without warning at the offi- in 2014. In this same building the hospitality of the Arab people in an unhurried In Spain, Masdar owns 40% of To- realised this market’s ce of Adeed Al Afeefi, the director emeritus king met behind closed rresol Energy, of which the Basque of Foreign Trade at the Abu Dhabi doors with Sheikh Mohammed and manner shall emerge victorious. We can stake our group SENER controls the other strategic value” Department of Economic Develo- Sultan Al Jaber, minister of state in claim to having enjoyed it! 60%. The company operates three pment, he received us courteously the federal government and one of solar plants in Andalusia. In 2015 with no sense of rush; Arabic co- the Sheikh’s closest confidants. In Masdar acquired 50% of Minas de ffee and dates included. February the latter named Al Jaber Corniche, opposite Emirates Pala- vernment’s Vision 2030 road map Aguas Teñidas in Huelva. Al Jaber, ce, aviation and tourism as the three rez Unquiles. They have published as CEO of ADNOC, Abu Dhabi ce, the world’s longest hotel com- – with an emphasis on renewable who is also the chairman of Abu main cogs in a smoothly functioning a monthly print edition since 2014, A Ferrari in the lobby National Oil Company, which ma- plex, and barely a kilometre from energies, commerce, culture, tou- Dhabi Ports, has the task to sweep machine. They feed into each other. distributing 10,000 copies across “Please, no photographs”, we were nages and supervises the emirate’s the as-yet unopened presidential rism and financial services. The away a bureaucratic culture. It is a Dubai also has a vibrant property 250 outlets. told when standing outside Muba- production of hydrocarbons [which palace of imperial proportions. arrival of Al Jaber – a chemical time for technocrats. Above, Etihad Towers in Abu Dhabi. Right, Sheikh Mohammed bin Rashid Al Maktoum, vice president market – with its ups and downs dala – another of Abu Dhabi’s so- and prime minister of the UAE and ruler of Dubai. Photos: MyMMerchan. like anywhere else in the world – Relax, this is Abu Dhabi vereign funds – with assets valued and the emirate supports knowledge “Abu Dhabi is not Dubai; here at 55.167 billion euros. The façade and innovation, in keeping with the everything takes more time”, the suggests yet another office block. UAE’s Vision 2021 plan to become communications director of the On the inside, however, the refined a highly productive and competitive federal Economy Ministry told architecture of its Arab patio leaves Farewell to oil, economy while marking the state’s us when we landed in the capital. you open-mouthed. It is chaired 50th anniversary. In May the first He was so right. The holy month by Sheikh Mohammed bin Zayed office building made with 3D prin- of Ramadan was fast approaching Al Nahyan, deputy supreme com- ting was opened in Dubai. It took and [almost all] the doors behind mander of the armed forces, the just 17 days to build. “We want ac- which some of Abu Dhabi’s most crown prince of Abu Dhabi, future welcome to the future tion, not theories”, Sheikh Moham- brilliant minds are normally to president of the UAE and the most med sentenced. “He is an amazing be found remained closed. The powerful man in the country. He is man. In general, Spain has not yet same can be said for the mansions the son of Sheikh Zayed, the foun- As the hydrocarbon age runs out of fuel, understood this country’s poten- we gazed upon as we were being der of the UAE who died in 2004, tial and there is little institutional driven along the capital’s ele- and his fifth wife, Sheikha Fatima the Spanish colony continues to grow support, demonstrated by the alar- gant avenues, such as Al Bateen bint Mubarak. Abu Dhabi’s royal ming lack of resources. For exam- Road, festooned with palm trees, family has close relations with its ple, the fact that there is no Spanish immaculate lawns and lush shrub- Spanish counterpart. Queen Sofía in the country with the most diversified Consulate in Dubai is unaccepta- bery. Was there a pact of silence? spent time with Sheikha Fatima in ble”, a Spanish consultant who resi- “We like it quiet”, Muna Al Jabry, March and while Spain’s king and economy in the entire Middle East des in the UAE remarked. “Only in the director of marketing at Abu queen, Felipe and Letizia, have the infrastructure sector, albeit late Dhabi’s Chamber of Commerce yet to make an official visit, they He created a Ministry of Happiness Seven emirates and one state in the day, have people realised this and Industry, pointed out from her have made private trips, including Text: Eva Martín led by a woman. He created a Mi- The UAE is a federal state compri- market’s strategic value.” Other ex- office with views of La Corniche, journeys to destinations such as the ome years ago, a journalist nistry of Youth Affairs, also with sing seven emirates: Abu Dhabi, patriates share this view. Some 200 the seaside promenade in the west asked Sheikh Mohammed a woman in charge. And he set up Dubai, Sharjah, Ras Al Khaimah, Spanish companies are based in the of the city. Just a few metres away Bin Rashid Al Maktoum, a Ministry of Tolerance under the , Umm Al Quwain and Fujai- UAE and the colony of Spaniards stands the skyscraper which hou- The future the Sheikh Sprime minister and vice president aegis of the veteran Sheikha Lub- rah. The autonomous governments continues to grow. “In April there ses ADIA (Abu Dhabi Investment of the UAE and ruler of Dubai, na Al Qasimi, formerly a minister of the first two are extremely power- has in mind for Abu what percentage of his vision he of economy and international aid ful. Abu Dhabi accounts for 87% of Dhabi is not stuck in had achieved. “Five percent”, he and development. One month after national territory and, according to The stability which the UAE has attained, the replied. A few years later, she as- this cabinet reshuffle, María and Abu Dhabi’s Statistics Centre, half crude, but rather based ked the sheikh the same question, I returned to UAE to resume our of the emirate’s GDP comes from way it handles security issues – “without tanks on on a diversification getting an identical answer. “How profile of the country after the first the hydrocarbon sector. Abu Dhabi street corners”, in the words of Bernardino León strategy – as laid out can this be?” she insisted. “Becau- instalment had been published in is also the main contributor to the Gross, director general of the Emirates Diplomatic se when you are close to achie- El Economista in December 2015. federal budget. Next door and not in the government’s ving your goal, that is the time to Once again we spent 70 days ga- dependent on oil or gas, the city Academy (EDA) – allied with the marketing talent Vision 2030 road map broaden your outlook and go fur- thering material for the supple- state of Dubai cannot stand still; the of Sheik Mohammed have made Dubai the leading – with an emphasis on ther.” Sheikh Mohammed’s charac- ment. On this occasion, we stayed constant flow of activity and leader- destination for capital from neighbouring countries ter has moulded that of his emirate. in the Emirati capital of Abu Dha- ship is such that the federal minister renewable energies, He is omnipresent. “I would not be bi, although we travelled so many for infrastructure development told commerce, culture, surprised if the office doors opened times to Dubai that we learned by us that if it did not exist, “the world were around 16,000”, José Eugenio Authority), the largest Emirati so- tourism and financial and he appeared right here”, Mo- heart each motorway junction sign would have to invent it”. The stabi- Salarich, Spain’s ambassador in the vereign wealth fund – owned by hammed A. Ahli, the director ge- along the 140 kilometres that se- lity which the UAE has attained, the UAE, said of a burgeoning commu- Abu Dhabi’s government – and the services neral of Dubai Civil Aviation Au- parate the two cities described as way it handles security issues – “wi- nity which includes people of all fourth biggest in the world with thority, remarked to us. The Sheikh “two sides of the same coin” by thout tanks on street corners”, in the ages. The same goes for Latin Ame- 700 billion euros’ worth of assets, Liwa desert. Spain’s emeritus king, does not only want to be close to Khalifa Al Zaffin, the executive words of Bernardino León Gross, ricans. To keep up with the growing according to SWFI. ADIA, which Juan Carlos, remains a regular vi- his people; he also wants to make chairman of , the aero- director general of the Emirates Di- activity of the Spanish-speaking is celebrating its 40th anniversary, sitor. Once in Mubadala’s waiting them happy. In February he rede- tropolis which will host the World plomatic Academy (EDA) – allied community [whose number is es- is swelled by earnings from oil. room, the visitor can enjoy the signed federal government and Expo and where Dubai’s new air- with the marketing talent of Sheik timated to be around 50,000] the “Considering that our managing view of a Roman-style mosaic and announced the changes on Twitter. port is being built Mohammed have made Dubai the Spanish-language online newspa- director has only given one inter- a Formula 1 Ferrari. “When nobody knew who we were, we bought 5% of the Italian team. This is a gift A special production of: Special issue produced by www.mymmerchan.com Editor-In-Chief: Eva Martín from that time”, two Emiratis from in collaboration with the Ministry of Economy Producer: María José Fernández Nebreda the communications department of the (UAE) Graphic Design: ADOS Publicidad explained. That investment, since El Economista is not responsible for the information and opinions expressed in this issue; In association with: offloaded, marked the fund’s inter- For further information regarding the www.mymmerchan.com is responsible for all contents. We thank the Embassy of Spain national debut. A huge King Kong production of future issues, please in Abu Dhabi, the Spanish Commercial Office in Dubai, the Spanish Business Council in in chainmail and other artworks fur- inquire at: +(34) 609 589 074 / Email: [email protected] the UAE, and the Embassy of the UAE in Madrid for all of the support received. ther adorn the lobby. Each week, 10 investment proposals already sifted 04 Economy SPECIAL SUPPLEMENT � SATURDAY, JULY 23, 2016 � El economista SPECIAL SUPPLEMENT � SATURDAY, JULY 23, 2016 � El economista a www.mymmerchan.com production Economy 05

Erik Rovina Mardones, CHIEF ECONOMIC AND COMMERCIAL Mohammed Ahmed Bin Abdul Aziz Al Shehhi, UAE’s SECRETARY OF STATE FOR THE ECONOMY ATTACHÉ TO THE SPANISH EMBASSY IN THE UNITED ARAB EMIRATES “Entering this market takes “The state envisions celebrating time, effort and money, but it works once you are in” its last barrel of oil exports” In 2015 ICEX provided personalised services to 117 6.34 billion euros. “There are big resulting from the drop in oil prices per cent by 2021. The National In- opportunities and promising areas and a slowdown in the growth of novation Strategy identifies seven SMEs from its Dubai office, number one in the world The Emirati government of cooperation with Latin Ameri- some of the world’s economies. key sectors: power, transportation, ca”, says Al Shehhi, “particularly Our competitiveness is due to the technology, health, education, wa- hat does Spain’s Eco- wants innovation to in sectors such as energy, agricul- presence of 25% of the world’s 500 ter and the aerospace sector. In last nomic and Commercial ture, tourism, IT and aviation.” largest companies which have set up November’s Innovation Week, 214 Office do in Dubai? their regional base here. entities launched 800 new and in- W“Between 80% and 90% of our account for 5% of its QUESTION: What are the projec- Q: Over the past year oil prices novative events whose implemen- time is given over to helping SMEs, tions of the Ministry of Economy have fallen by more than a half, tation will be supervised by each those small businesses which no- with regards to economic growth contributing to an economic slow- of the emirates. The Ministry of body knows and which could not GDP by 2021 over the next three and five years? down in the UAE. How are you co- Economy will continue to enhance be further removed from the Indi- n electrical engineer mercial relations with that coun- ANSWER: In 2015 we grew 3.1% ping with this storm? the regulatory framework to encou- texes and Banco Santanders of this from South Florida try. A few days later Al Shehhi A: Although this poses a challen- rage high value-added sectors to world. They don’t need our servi- University and with an received us in his well-lit office ge for us as 30% of our GDP de- develop the business environment ces”, explains Erik Rovina Mardo- AMBA from the American Uni- in the Economy Ministry building “We are the first coun- pends on oil, our current situation and boost the country’s investment nes, who since September 2015 has Visitors attending GITEX in the World Trade Center of Dubai versity of Sharjah, the UAE’s se- in Dubai with the words “Spain try to establish minis- is excellent compared with other appeal. been the chief economic and com- cretary of state for the economy, must overtake Italy”, because our oil-exporting countries. The deci- Q: In February’s changes to the ca- mercial attaché at the Spanish Em- Fairs in the UAE (2016) with financial support from ICEX Mohammed Ahmed Bin Abdul country and his are still far from tries for Happiness and sion to adopt a zero deficit for the binet, a Ministry of Happiness was bassy in the United Arab Emirates Calendar Fair City Sector Exhi- Spanish Aziz Al Shehhi, is a welcoming fulfilling their bilateral potential. Tolerance. The revam- 2016 federal budget underscores introduced. What do you as secre- (UAE). His offices are located in “It’s important to explode the myth about how much bitors Sector Plan and authentic figure. In May the In 2015 total trade between Spain ped government inclu- the limited impact of low oil prices tary of state for the economy think , the skyscraper in Italian president awarded him and UAE rose above 2.27 billion on the strategies of the state and its about this? 2-4/02 VIV MEA Abu Agribusiness 11 AGRAGEX which Sheikh Mohammed bin Ras- money there is in this country, and the ‘tiny slice of the Dhabi machinery the Order of the Star of Italy euros. Spain’s position as a bridge des five new women economy. We were well-prepared A: The happiness of UAE citizens, hid Al Maktoum, vice president and pie will make my fortune’ idea. The competition is fierce for his “exceptional” efforts to towards Latin America makes it for the current situation thanks to residents and even visitors has be- 15-17/02 AEEDC Dubai Dental 8 FENIN ministers, including prime minister of UAE and ruler and means you have to force your way in; in other strengthen business and com- extremely attractive to this Arab plans adopted by the federal go- come the focal point of discussions of Dubai, also has an office. This 21-25/02 Gulfood Dubai Food, beverage 10 AFEHC country, which has its sights set the minister for youth vernment years ago under its deve- locally and globally. In the end, the words, cutting prices, the most important factor” and hospitality proximity is no coincidence. Just on that continent as a market affairs, the youngest lopment vision for a post-oil eco- success of any urban project hinges one Metro station away, at a distan- 1-3/03 Middle East Elec. Dubai Electrical equipment 21 AMEC AMELEC where it can diversify both part- minister in the world nomy. Its measures aggressively on people’s happiness. Being happy investigating new opportunities. In ce of just three kilometres, stands led ICEX to install its own pavilion. 8-9/03 Middle East Rail Dubai Railways 9 MAFEX ners and business. In May the broaden sources of income so that has always been a goal for our wise the World Trade Center, a kind of This decision also coincides with 2015 more than 8,000 Spanish com- Mexican agriculture minister, at just 22. In all, there non-oil sectors account for 80% leadership in all of the projects and bustling Arab souk which is the the holding of three other fairs: panies exported to UAE. Of these, 15-17/05 Beauty World Dubai Cosmetics 41 STANPA José Calzada Rovirosa, pas- are eight women in the of GDP by 2021. Should this be initiatives launched over the past most happening trade fair area in Arabhealth, Sweet&Snacks and 2,237 were regular exporters whose 8-10/06 Automechanika Dubai Automotive 12 SERNAUTO sed through his office and cabinet” achieved, the state’s ability to cope 10 years. They reflect the dedica- the Gulf. The fairground is open all The Big 5, the largest construction products have been on the market Al Shehhi pointed out that with instability in international tion and leadership of the UAE in 17-19/09 Hotel Show Dubai Lighning FEDAI year round and is a place in which fair in the region which is held in here for over four years. This is a big Mexico’s buoyant agricultu- markets will be further strengthe- managing its government and as an people look and let themselves be November. At the same time, ICEX advance because in 2010 there were 27-29/10 Gulfood Dubai Agribusiness AMEC re sector makes a good match with the non-oil sector accounting ned. The state envisions celebra- uplifting role model for prosperity seen amongst the Emirati crème provides support to the groups of only 4,180 export companies”, Ro- Manufacturing machinery ALIMENTEC with the Emirati economic for 70% of our GDP and we expect ting its last barrel of oil exports. and civilized development. We are de la crème, including Sheikh Mo- Spanish companies which partici- vina explains, although he is quick 7-10/11 ADIPEC Abu Dhabi Oil & gas FLUIDEX agenda for food security. Brazil continued growth in 2016 ranging We are formulating an integrated the first country to establish minis- hammed and his son, crown prince pate together in the UAE’s annual to add a metaphorical nuance: “It’s and Mexico combined account from 3% to 3.5%. We forecast the post-oil strategy including the de- tries for Happiness and Tolerance. 13-15/11 WOP Dubai Fruits & vegetables FEPEX and heir apparent, Sheikh Hamdan. fairs – 9 in Dubai and 2 in Abu important to explode the myth con- for 70% of all trade with economy to eventually break the 4% velopment of legislation linking The revamped government inclu- The most attractive fair for Spanish Dhabi – under the umbrella of va- cerning how much money there is in Fairs in the UAE (2016) with ICEX official pavilion Ibero-America: barrier in light of the expected high innovation and investment, SMEs des five new women ministers, in- companies appears to be Gulfood. rious business organisations. this country, and this idea that ‘a tiny growth rates for the non-oil sectors and entrepreneurship, R&D and cluding the youngest minister – for Calendar Fair City Sector Exhi- Years attended “In February of this year some 200 “Last year, 117 personalised servi- slice of the pie will make my fortu- bitors (including 2016) through 2017 which will continue intellectual property rights. We youth affairs - in the world who food and drink companies turned ces were provided to companies, in- ne’. The competition is fierce and to rise and gain momentum in the aim to enhance the state’s indus- is just 22. In all, there are eight 25-28/01 Arabhealth Dubai Healthcare 54 4 up. Judging by the demand for cluding diary planning, making this means you have to force your way future. The IMF also predicts solid trial capacity and build a strong women in the cabinet. Happiness space, it’s a money-making fair”, office the number one of all those in; in other words, cutting prices, 21-25/02 Gulfood Dubai Food, beverage 189 11 economic growth for the country. industrial sector based on modern from the perspective of UAE na- Rovina remarks. According to the run by ICEX”, the attaché says. So the most important factor. Entering and hospitality Our economy is outstanding, not technology, as well as revitalizing tionals becomes a potential reality organisers, 90,000 buyers from 160 does he encourage Spanish SMEs to this market requires effort, time and 7-9/11 Sweets&Snacks Dubai Sweets and snacks 2 only at the regional level, but other sectors including aviation, when quality becomes a way of countries registered for the event. consider a venture into the Emirati money. But once you are in, it works globally as well, and it remains one tourism, transport and logistics. life, excellence a need and not an 21-24/11 Big 5 Dubai Building materials Its significance is such that it has market? “Yes. We need to carry on very well”. of the most stable. Key to this is Q: You proclaimed 2015 as the option, and innovation an active diversity and dependence on various “Year of Innovation”. What were element for success. Our country sources of income. It has proven the results? has spared no effort to improve the Bernardino León Gross, DIRECTOR GENERAL OF THE emirates DIPLOMATIC ACADEMY to be strong and maintained high A: We see innovation as a vital lives of every citizen and resident; growth rates over the past years. element in achieving economic the government is responsible for It has remained efficient despite success, and the goal is to raise reaching out to the people and not “They want to be trailblazers” the economic unpredictability its contribution to GDP to about 5 vice versa. “Sheikh Mohammed took centre from Málaga, with experience of the tions. “The aim is the professionali- from where it stands today to exce- stage and in a conversation with his EU and the UN, believes that the zation and modernisation of a pro- llence. That is the remit.” For León followers on Twitter [he has 6.36 institution he heads under the aegis fession on the basis of merit. This is Gross, the UAE is in a transitional million; Mariano Rajoy has 1.22 of the Foreign Affairs Ministry in what makes it completely new in the moment. “The labour of investing in million and Barack Obama 75.6 mi- Abu Dhabi chimes with the coun- Arab world because there is nothing the creation of infrastructures is the- llion], the UAE’s prime minister and try’s innovative spirit. All of its 58 else like it. The UAE has decided to re, making it possible, for example, vice president, and ruler of Dubai, students are either diplomats or have offer its citizens a high educational for Abu Dhabi to host Sustainability announced the restructuring of the worked in the international sphere level, for example with New York Week and become the global capital federal cabinet with the inclusion of for an Emirati institution, such as the University and the Sorbonne ha- in this area by bringing together all YOUR KEY TO THE MARKETS new ministries for Happiness, Youth sovereign wealth fund Mubadala, ving campuses in Abu Dhabi. This of the world’s players and experts Affairs and Tolerance. They want which encourages its people to get country is very much a global one from that field. Investment in human to be trailblazers”, says Bernardi- such training in order to make the with a presence in world forums in capital and mentality takes longer. no León Gross, director general of most of all opportunities beyond the areas such as energy and interna- At EDA we are also making a cul- ً#ﻃﺒﻘﺎـﻠﻠﻤﻮﺍﺻﻔﺎﺕ | [email protected] esma.gov.ae 97142944434+ | 97126711110+ ﻫﻴﺌﺔ ﺍ�ﺤﺎﺩﻳﺔ | the Emirates Diplomatic Academy desert. But in the future, such em- tional terrorism. Such an approach tural change. The strategic decision Federal Authority (EDA), launched in 2014. The ployees will have to study at EDA requires an outstanding diplomatic has been made; the results will be 51-year-old politician and diplomat before entering the UAE’s institu- corps which can take the country seen in the years to come”. 06 Aviation SPECIAL SUPPLEMENT � SATURDAY, JULY 23, 2016 � El economista SPECIAL SUPPLEMENT � SATURDAY, JULY 23, 2016 � El economista a www.mymmerchan.com production Aviation 07

Mohammed Ahli, DIRECTOR GENERAL OF DUBAI CIVIL AVIATION AUTHORITY “We need the fifth freedom with Spain” ting for Iberia to fly to Dubai for a Q: Your regional neighbour Iran Dubai is looking long time now. This will strengthen has announced its intention to boost forward for our ties and connectivity with Spain. capacity at Tehran airport from ei- Both Emirates Airlines which con- ght million to 40 million in the next Iberia to fly to nects the emirate with Madrid and four years. It also sees itself as a Barcelona and Etihad which flies hub for long-haul flights. On a sca- If aviation were a country… the Emirate and to the Spanish capital are talking to le of 0 to 10, how much of a chance Last year Tony Tyler, the CEO of 28% of the emirate’s GDP and Iberia and other Spanish companies, does it have of becoming your big- the International Air Transport this is still on the rise. This on- strengthen the urging them to fly to UAE. gest competitor in the region? Association (IATA) said in Abu going increase means that cu- Q: You have the reputation of being A: 0. The states in this region are Dhabi, the UAE’s capital, that if rrent capacity has to be boos- ties further an excellent negotiator. What is Spain not competing amongst themselves. aviation were a country, it would ted by completing as quickly as rank 19th in terms of GDP (1.94 possible the infrastructure of the ohammed Ahli welcomes like on the other side of the table? They have different aviation mo- trillion euros). Aviation generates new DWC Al Maktoum Interna- us to his office with the A: Before Emirates could gain all dels. Tehran’s capacity boost will 8.4 million direct jobs and 56.5 tional Airport which is being built offer of freshly squeezed of its traffic rights, we had to tac- give our airlines the opportunity to indirectly. In Dubai it represents to the south of the city. Morange juice and rose-flavoured tea. kle a myriad technical issues with increase their connectivity with that The director general of Dubai Civil arid meetings that lasted until 11pm airport and other destinations. A view of Dubai International Airport (DXB) to the north of the city. To the right, Khalifa Al Zaffin, executive Chairman of DACC. Aviation Authority knows all about without results. So we said to our- Q: After the Flydubai accident, there Spain because, among other reasons, selves ‘let’s show them Dubai’. was some criticism from international city where half a million people he used to have a home in Valencia, They came, they looked around and airline pilots over lack of rest times. Is A I R P O R T S will be working, but for Khalifa Al but he sold it “when the Spanish sum- they opened doors to us in Spain. there a need to change the regulations Zaffin, what is his personal mind- mer began to look like Dubai’s”. The It was a question of being unfami- on schedules? Will this tragedy chan- set? “Nobody achieves a 10 in hap- first time a plane landed in Dubai was liar with each other. I suppose they ge anything with regard to local pro- I N D U B A I piness, you cannot be happy all the in 1937 by the Creek, the sea inlet were thinking ‘who are these peo- cedures and those of your authority? The world’s airport time, happiness comes from within, which divides the historic quarter of ple, where are they from and what A: Airlines observe the rules laid Dubai International Airport (DXB) how am I? I am happy to be whe- the city and an area which remains do they want?’ This wasn’t only the down by the UAE General Civil Three generations of sheikhs without oil wealth have continued in Dubai their re I am and because of what I am still today distinct from the shiny mo- case with Spain; Many Countries Aviation Authority, which are ba- Volume of international passengers quest to triumph in the aviation sector. Dubai South is its new brand: a $33bn doing, I am content, maybe this is dern image of skyscrapers which is around the world act in the interest sed on international standards and 2015: 78 million (51,9 million with Emirates Airlines). the way Dubai is seen in Spain. The of their national airlines. recommended practices. The UAE 2016: 85 million passengers (estimated). aerotropolis. Businesses and investors have started to jockey for a prime position first landing in the Q: And is it wrong for a nation to Government’s primary objective is It is highly probable was made by a flying boat of Imperial protect its airline? a safe and secure aviation industry. Capacity: 90 million passengers. (including Concourse D ope- e are eager to hitch tips, such as health centres, leisure he says exuding confidence in his United States, Italy, China, the that Dubai will surpass Airways which was flying between A: It is not wrong to protect the in- We will not compromise safety of ned in 2016 for a total investment of 1.2 billion US dollars). up the cart to the and education facilities. But also project. Why wouldn’t he be? United Kingdom… They all want London and Sydney, Australia. “An oxen”, says Khalifa it will be a place to work with a a piece of the pie. Two years ago Atlanta as the world advisor to Sheikh Saeed had warned “You build the market “WAl Zaffin, a US-educated chemical large industrial park and business Having the sheikhs on your side the British government supplied us aviation capital in the against allowing the landing. He had Al Maktoum International Airport (DWC) engineer and executive chairman centre. “The basis of the logistics Aviation is to Dubai what fishing is with a cheque for two billion US thought that the British would occupy working in both of Dubai Aviation City Corporation business is air transport of products to Galicia; it’s impossible to ima- dollars to start building… Credit next five years our land and attack our culture”. But directions. In operation since 2010 for (DACC), the company in charge of crossing the sea to Jebel Ali, the gine one without the other. More financing from governments is Late Sheikh Saeed, the grandfather of We carry passengers air freight and since 2013 for establishing the strategy, operations Middle East’s biggest port. Compa- than flying, Al Zaffin likes to fish, cheaper than what banks offer and the Prime Minister and the Vice Pre- passengers. and business related to Dubai South, nies such as Samsung, Apple and a hobby he shares the enjoyment of the repayment period is longer. We the word. Heaven and hell is wi- sident of the UAE and the Ruler of to Spain and look a self-sufficient urban ecosystem ATT give our business added value. with his friend and royal highness, are happy with that. It is not hard to thin, not somewhere else”. Dubai Sheikh Mohammed bin Ras- Current capacity: with an airport at its heart. Amid the Then there are the pharmaceuticals, Sheikh Ahmed bin Saeed Al Mak- negotiate, especially when we are Wilfred Thesiger, the explorer hid Al Maktoum, did not listen. “Re- forward for Iberia to • 5 million passengers a year, Burj Khalifa hum of the air conditioning in his and perishable goods which operate toum, CEO and chairman of The talking about infrastructure and we that crossed the Arabian desert in member this, one day Dubai will have operate passenger 463,236 passengers in 2015 office next to Dubai International on a tight schedule…” Emirates Group and uncle to the have a governmental guarantee.” the last century said that those five a great aviation business”, he decla- • 1 million tonnes of air freight, Airport, Al Zaffin explains: “We UAE is one of the few coun- vice president and prime minister of According to this Emirati official, years where he endured hunger, services to Dubai” Arabian red. “Since then, we have applied an 888,714 metric tonnes in 2015 Gulf have not stopped for one minute; tries to have made its skies into UAE and Ruler of Dubai. Al Zaffin persuading companies to come and thirst, and extreme cold and hot open skies policy”, says Ahli. In the Mohammed Ahli Investment for expansion our objective is to have it ready by a strategic sector for economic knows that Sheikh Ahmed’s golden settle in Dubai South is proving to temperatures were “the happiest 1970s when the emirate’s current air- announced in 2014: 2025”. In fact, the airport has been growth, and it is highly probable rule is that nothing should hinder be relatively simple. “Airports are years” of his life. This quotation port was opened, Sheikh Rashid, the terest of a national airline. We look air transport for any reason. We 32 billion US dollars in use for Emirates Airlines’ freight that Dubai will surpass Atlanta as the growth of aviation in Dubai. cash machines. Those moving in can be read in , the oasis city successor to Sheikh Saeed and the at it in a different way. Its much be- have to await the outcome and the transport since 2010. The passenger the world aviation capital in the The last annual report of his group here are doing so to provide servi- in the middle of Abu Dhabi, “Do Future capacity of five terminals Jebel Ali father of Sheikh Mohammed, insisted tter to open the routes for both, the recommendation of the investiga- Port next five years. In 2015 it passed (April 2015-March 2016) had the ces to Emirates Airlines and Fly- you know why”, asks Al Zaffin, that British Airways’ London-Mum- national and foreign airlines rather tion panel. once expansion completed: Heathrow to take first place for word Accelerating embossed on its dubai. It is cheaper to carry out “because he was next to nature, bai route made a stopover in Dubai. than protecting it. This will de- Q: You have said that in 2020, 220 million passengers a year Aviation is to Dubai international passengers: 78 mi- cover and detailed profits of 1,939 maintenance operations, repairs and God is closer. It is difficult to de- “He convinced them by promising to velop the aviation market in both Dubai’s aviation sector will crea- llion passed through its airports, billion euros, the biggest in com- revisions in Dubai than by going fine happiness, it is a very complex Phase I: 120 million passengers. Highway to pay for eight passengers’ tickets if the countries in addition to increasing te 375,000 direct jobs. Is there Abu Dhabi what fishing is to 51 million of whom were flown pany history and 49.8% more than to any part of Europe.” Boing has thing to do, but at the end of the 100 A380s can be handled at a flight was a loss maker”. It never was. connectivity, boosting the tourist anything that could prevent this Galicia; it’s impossible by Emirates Airlines. The fact that the previous year. It is not all good already signed an agreement on its day it is to be on good terms with time. Back then he also reserved land to the industry and related areas giving from happening? to imagine one without this airline is not moving to Dubai news: turnover, at 22,305 billion arrival in Dubai South soon. “This God and with other people… then south of Dubai in order to continue both parties a greater chance of suc- A: This figure is based on the sta- Phase II: 100 million passengers and 16 million tonnes of air South for the moment could make euros, was down 3.3%, mainly due is the future”, Al Zaffin smiles. you will live in good terms with expanding the aeronautical activity. cess. You build the market working tistics relating to the growth of the freight. Estimated capacity in 2018: 26 million passengers. the other Al Zaffin’s day-to-day business to the “impact of a strong dollar”, Happiness is the leitmotif of a yourself”. “The Al Maktoum family is a family in both directions. passenger travel and the develop- extremely challenging. But he dis- the report said. It is with this kind of of visionary sheikhs. Sheikh Rashid Q: Qatar wants Doha to become ment of the aviation industry, which Free Zone key facts mantles any such psychological ammunition that Al Zaffin says that Asturian escalators and lifts from Madrid saw clearly that the airport would the hub of world aviation. With we have been enjoying up to date. facility has been operational since barrier with opportunity theory “Dubai South sells itself”, adding In 2004 ThyssenKrupp España – which opens on August 31 and become obsolete long before half a 15.01%, Qatar Airways is now the Our forecasts are updated on an- 2013, and in April of this year and his wily tendency to answer that it is “attracting attention from Business Park: Promoted Dubai Logistics Corridor: 200km2 was awarded the contract to su- where Plácido Domingo and José century had passed”, Ahli explains. biggest shareholder in IAG, the nual and quinquennial basis. The by JLL and CBRE, the space of multi-use free zone space. the VIP Terminal was opened for one question with another: “Who investors and companies from all pply lifts, escalators and mecha- Carreras are due to perform – the group to which British Airways and forecasts may change, based on the surrounded by parkland Connects Jebel Ali Port with DWC private jets. Besides this, when would not like their business to be over the world, including Spain”. nical walkways for Dubai Airports big real estate promoter Aldar QUESTION: How much influen- Iberia belong. Could Qatar’s ambi- developments. We look forward for comprises 11 blocks in the Al Maktoum International Airport, necessary, flights are diverted from next to one of the biggest airports to the tune of 150 million euros. Properties and its Yas Island sho- “The escalators and walkways pping mall, where the Formula 1 ce can you bring to bear so that the tion threaten your plans for Iberia? an increase of the figures as we see free zone, with 35m2 offices with transit time (from dock to the main airport. in the world?” Al Zaffin believes Wanted: 33 billion US dollars ready to be used or individually runway) of 4 hours. were made in Mieres, Asturias, world championship race is held. Dubai-Malaga route opens? A: Absolutely not. a considerable growth in the avia- designed from 120m2 upwards. that those who have a true vision But where will 33 billion US dollars and the lifts in Madrid, with some The star project yet to be awarded ANSWER: This is a commercial Q: Or have some impact on the 70 tion industry in the UAE. The zone includes a business Brace yourself Atlanta of the future – “and there are many come from in lean times and when German components. The tender for which ThyssenKrupp España was key in our relationship with has bid is , along decision which is up to the airlines. weekly connections between Dubai Q: Do you visit Spain often? centre, financial services hub, ‘The Villages’: A self-sufficient city Al Maktoum is just the icing on the of them” – know that coming here the promoter rules out a public- this country, where we have com- with Acciona, which is compe- stores, fitness and catering, etc. for 1 million people - included in As a government entity, we talk to and London? A: Yes, for work and for pleasure. cake of Dubai South, an aerotropo- now will save money. “The busi- private partnership to finance the pleted more than 300 projects”, ting against Japan. The plan is the Dubai aerotropolis project - with our Spanish counterparts about re- A: No. We always encourage the We love Spain. When we sold our lis of 145 km2 next to the largest ness model sells itself; the airport infrastructure? “Our motto has to says Eduardo Montero, director to extend Dubai’s Metro line 15 100% foreign-owned property schools, health centres, renewable expansion of the market. The one acts as a powerful catalyst for general of the company in UAE. kilometres to reach the Expo 2020 gularising traffic rights. We have house, my wife set the condition 100% repatriation of capital energy, golf course and whatever port in the Middle East. It will be be BOT – build, operate, transfer”, Besides the airports, his Emirati site in Dubai South, a project wor- the third and fourth freedom traffic who provides a better product, a that we would return at least once a 0 tax else you can imagine. a city for a million people, with all other activities: logistics, finance, replies Al Zaffin. “We have received rights with Spain. We need the fifth safe and secure air transport servi- year, in winter. possible services at their finger- real estate… You can’t go wrong.”, signs of interest from France, clients include the Dubai Opera th around 2.7 billion US dollars. freedom rights. We have been wai- ce will succeed. 08 Infrastructure SPECIAL SUPPLEMENT � SATURDAY, JULY 23, 2016 � El economista SPECIAL SUPPLEMENT � SATURDAY, JULY 23, 2016 � El economista a www.mymmerchan.com production Real Estate 09

Abdullah Belhaif AlNuaimi, UAE’s minister of infrastructure development ber one among the very best. ‘Why Mohammed Bin Rashid Al Maktoum City - District One MIT?’ one of them asked her. ‘Sir, I saw that my father’s university was number nine in the rankings; I couldn’t go to one lower down the “If Dubai did not exist, the list’. This is the generation that will make the difference, the one we Dubai’s address of the future sets new want to lead the UAE into the futu- re. We have made this country beau- world would have to invent it” tiful, safe and attractive as you see it here has been generous world in commerce, construction, today, but can we make it as innova- benchmarks in community living public spending on Emi- lifestyle… It is a universe. I always tive as we would like? Not without rati infrastructures over say that if Dubai did not exist, the them. In ten years they will be in have arrived!” It was also where we in 2010. Consequently, we found Trecent years. Despite the drop in world would have to invent it. The my chair and also saying: ‘we need The horse is a source of great pride for Arabs; His Highness first read the name Meydan; “one ourselves just a few steps away from oil prices, in 2016 the federal bud- other emirates supply it. It is con- a new generation to take the lead’. Sheikh Mohammed dreamed as a child of having a fine of Dubai’s biggest developers”, the equestrian facility which boasts get still prioritised this sector. The nected to those to the north [all We will not let the UAE grow old.” was how a chatty Englishman at the biggest racecourse in the world following are extracts from the in- except Abu Dhabi] by four arteries. racecourse where the level of competition would make a nearby stand described it as he with capacity for more than 80,000 terview with the UAE’s minister of There is a normal transfer of traffic Happiness, the train helped us get a grip on a scene we spectators; The Meydan Racecour- infrastructure development, Abdu- and congestion on all four roads; and Hyperloop his family and country proud. He has it now. Meydan, the knew little about. “It is linked to se is home to the Dubai World Cup, llah Belhaif AlNuaimi. Dubai is still Dubai. Sheikh Mo- “I met the chairman of Hyperloop Sheikh Mohammed and built the the richest horserace in the world hammed is a firm believer in the when they presented their techno- biggest racecourse in the world, is actually much more than racecourse of the same name.” with prize money of $30,000,000 unity of the UAE, in economic dis- logy to me and my team. As far as a venue for equestrian events; it is a great city and the place After five hours traipsing up and USD. Bearing witness to this gla- “Part of our research tribution and that each success in I can see, it is not perfectly clear, down the aisles and weighed down mourous international event is The will focus on people. one emirate benefits the others. In nor has it been sufficiently tested in which Dubai is leading as a pioneer in the Arab world by dozens of brochures and busi- Meydan Hotel, designed in the sha- recent years he has led reforms and to say it is the future of transport. ness cards with names and logos pe of a wave in motion with a lumi- The authorities have visited more projects in the nor- Then there is also the social as- ike Giordano Bruno’s theory Sobha Group is responsible for plains this in Flashes of Thought, we had never seen before, the Bri- nous green glace façade. Meydan tasked us with making thern emirates than in Dubai. As pect of a journey and what people of the never ending univer- developing over 45 million square published in 2013, the same year ton’s words had a powerful effect. Hotels and Hospitality has more to them happy, not making prime minister, those are his priori- want. Do you really want to cut the se, Dubai’s property mar- feet of prime freehold land in the that the Meydan Group project ties. He was the one who told us to journey time from one hour to five Lket continues to extend its own li- heart of Dubai. This 25 billion was launched. This book was gi- them move faster” reach out to the most remote places. minutes? A train ride with friends, mits, making an indelible mark on dirham investment (6.13 billion ven to us in its Spanish translation He himself said: ‘We want develo- “A train ride with friends, the internet or reading a the internet or reading a book… it’s the world stage. A big part of the euros) comprises of luxury homes towards the end of summer in 2015 ped, not developing, areas’. In the book… it’s something to be enjoyed. Imagine yourself something to be enjoyed. Imagine scenery is Mohammed Bin Rashid ranging from four up to eight be- by Jaime Montalvo, formerly the Opportunities for last seven years, we have carried yourself inside a capsule heading to City, named after His Highness drooms. With the imminent hando- economic and trade attaché at the Spanish companies out projects in that area. He ins- inside a capsule heading to Dubai from Abu Dhabi in Dubai from Abu Dhabi in 10 minu- Sheikh Mohammed Bin Rashid Al ver of Phase 1 taking place in 2016, Spanish Embassy in UAE, during “In the next three years, we will tructed us to build the Dubai-Fu- 10 minutes. Is that what you want? I am not so sure” tes. Is that what you want? I am not Maktoum, UAE’s Vice President, over 9000 workers are operating our first trip to Dubai in order to invest 900 million euros in the jairah highway, a challenge in the so sure. Part of our research will fo- Prime Minister and Ruler of Dubai. to ensure the completion of a high get an up-to-date snapshot of the construction of highways, mostly midst of the mountains. Today it is cus on people. The authorities have Dubai’s authorities hope that in quality luxury residential project. UAE economy and the country’s in the mountains; in Fujairah, Ras a 45-minute journey.” tasked us with making them happy, 2020 – when MBR City’s first four According to the developer, “it is relations with Spain. “It will help Al-Khaimah… We are designing this not making them move faster. So we phases are completed to coincide hard to imagine how close one can you to delve deeper into Sheikh now. We have built and run a 900km The country which refuses will have to ask them what scenario with the holding of the World Expo be to all the major routes into the Mohammed’s character”, Montal- network [excluding Dubai and Abu to grow old they prefer: 10 minutes in a cap- – the metropolis will have around city, providing quick access to the vo told us the day he packed his Dhabi, which have their own minis- “The new generations grow up with sule or 30 minutes on a train. We 3.4 million inhabitants. The city Dubai International Financial Cen- bags for his return to Spain after tries and budgets], which provides technology. They could obtain bet- will have to see which offers grea- is being built in the vicinity of the tre, Dubai World Trade Center and several years in UAE. During the opportunities in maintenance”. ter results without us than we could ter comfort. I hope it is a success. Meydan Racecourse and Down- Dubai International Airport. No same farewell conversation he told on our own. The best scenario is to Cutting the 12-hour journey time town Dubai with the icing on the other development in the Emirates us we had to visit Cityscape Glo- Is Sheikh Mohammed combine the two. Our experience between the UAE and China makes cake being, Mohammed Bin Rashid is so close to these destinations, bal, the biggest real estate fair in preventing a fast link between protects them while they use their sense, but between Dubai and Abu Al Maktoum City – District One, which come together to make Dis- the Middle East which was to be The Crystal Lagoon at Mohammed Bin Rashid Al Dubai and Sharjah? brains. A little of us and a lot of Dhabi…” [The 13.5-billion-euro the first landmark project to be trict One a truly unique location.” held in Dubai the following week. Maktoum City – District One is the first of its kind “This is nonsense. Look, I am from them. In 1980 I graduated from the regional railway project to link announced with Mohammed Bin There we saw the country’s vi- in the UAE and when completed, it will become the Sharjah and I live there. If Sheikh University of Wisconsin. A whi- Kuwait with Muscat via Saudi Ara- Rashid City. Aiming for the best sion and desire to do what no one Mohammed is sure of anything it le back, my daughter applied for a bia, Bahrain, Qatar and the UAE is Meydan Sobha, the joint ven- “The aim of the UAE is to be num- else has done before and point to largest in the world is that Dubai is a real destination. scholarship and two colleagues of still pending a decision to resume ture between Meydan Group and ber one”, Sheikh Mohammed ex- it proudly as a way of saying “We And it maintains its leading po- mine interviewed her. She was ac- Image of , owned by the Roads and Transport work by governments on the Gulf Guests at heart offer, notably the luxurious Bab Al sition in the UAE and the whole cepted at MIT, probably the num- Authority (RTA) of Dubai. Photos: MyMMerchan. Cooperation Council.] The combination of H.E. Sheikha Shams Desert Resort & Spa, which District One: Lubna Bint Khalid Al Qasimi and should be on the list of anyone who a pinch of fortune, which always does not want to leave the emirate Mohammed Juma Al Shamisi, Chief Executive Officer of Abu Dhabi Ports Sotogrande in the helps, led us to cross paths with without spending at least one night shadow of Burj Khalifa Meydan shortly after. The current experiencing the true Arabian De- Minister for Tolerance, whom we sert experience. Area: 45 million square feet had met as Minister of Internatio- “We are a hub for the region’s nal Cooperation and Development Turquoise lagoons Capacity: and former Minister of Economy, in the heart of Dubai Carlos Salas, the Regional Director • Villas: 4 to 6 bedrooms was the first Emirati woman who opened our eyes to the increasingly of Crystal Lagoons in the Middle automobile industry” • Mansions: 7 and 8 bedrooms significant gains made by females East and also a member of the Spa- “The biggest exporter in Barcelona company also controls the adjacent volume,” the captain explains. in the United Arab Emirates’ po- nish Business Council in the UAE Setting: Includes the worldʼs lar- Port is one of the largest importers industrial zone, KIZAD, which Khalifa Port’s remit is to supply litical sphere. H.E. Sheikha Lub- was the first person to tell us about gest man-made crystal lagoon at Khalifa Port”, says Captain Mo- plans to become one of the biggest KIZAD and offer a more perso- na put us in touch with the twins, man-made lagoons with turquoise along a seven-kilometer stretch hammed Juma Al Shamisi, CEO of in the world by 2030, increasing nalised service, including the free Ahmed and Rashid bin Shabib, two hues of a Caribbean cove in the beachfront that will offer resi- Abu Dhabi Ports. The young exe- the extension of the existing lo- zone. “The idea is to be a regional young Dubai entrepreneurs who heart of Dubai. dents swimming and non-mo- cutive is talking about Al Dahra, an gistics and manufacturing park to hub; we already are for the auto- in the autumn, when the summer The Crystal Lagoons at Mo- torized aquatic leisure activi- Emirati company which produces “419 km2, two-thirds of the size of mobile industry”, he says. In the heat abates to make way for eight hammed Bin Rashid Al Maktoum Luxury and Dubai are like love and marriage in the old song by ties. A 14km boardwalk and alfalfa in Spain. Despite “close re- Singapore.” Khalifa Port is 97km first quarter of 2016, roll-off tra- consecutive months of mild tem- City – District One is the first of Frank Sinatra; impossible to imagine one without the other. Try, over 8km of cycling and running lations” with the port in Catalonia’s from the Corniche, the marine pro- ffic of cars grew 31% to 33,687 peratures, throw garden parties for its kind in the UAE and when com- try, try to separate them. It’s an illusion! In the midst of Mohammed track surrounded by lush green capital, Al Shamisi admits that the- menade in the emirate’s capital, vehicles, compared to 25.709 in guests from East and West, North pleted, it will become the largest in Khalifa Port in the Bin Rashid City, District One is the Arabian Sotogrande, the plush landscaping and open green re is a shortage of information in and just 77km from Dubai’s Jebel the same period of 2015. “Other and South around a campfire. This the world. For his company, it is a golf resort in Andalusia, near the border with Gibraltar. It is a luxury spaces. Lighting is provided by the Iberian Peninsula regarding his Ali, the biggest port in the Middle ports are growing in the region. is Dubai, welcoming, diverse, safe shop window in the Middle East; development with one of the lowest densities to be found in Dubai, solar power and sophisticated company’s services, and he accepts East and ninth in the world for con- If this was a life or death compe- and cosmopolitan. After a few mis- for Meydan Sobha the project re- redolent of the Costa del Sol, which is logical as the architectural technology used to create an their share of blame for the lack of tainer traffic. Its infrastructure, into tition, you would see them suffe- sed turns trying to locate the home presents a way of boosting the pro- stylings described as Contemporary, Mediterranean and Modern environmentally-sensitive spa- action taken to remedy the situa- which millions have been invested, ring. But at the moment, we are Our vision of the Bin Shabib twins, the taxi perties’ value; for the expatriate, it Arabic by the developer, Meydan Sobha are the same as those to ce. District One is next to the tion. Apart from military and oil is magnificent, but is there a real all growing together. As they say, driver decided to consult his GPS provides the possibility of purcha- Dubai, the airport of the world be found along the Andalusian coast. The cost of a luxury home Meydan Racecourse, which in- and gas harbors, the company runs need to dredge out a port practica- if you want to go fast, travel alo- while stopped in Nad Al Sheba; the sing freehold property overlooking within District One, situated just four kilometres from the city cen- cludes The Meydan Hotel, The all of the ports in Abu Dhabi, and lly next door to such a neighbour? ne. If you want to go far, travel name of what used to be Dubai’s ra- a great expanse of water in the very tre ranges between USD 4 million up to USD 27 million and here is Meydan Tennis Academy and its flagship is Khalifa Port, opened “We are complementary. We in company. And that is just what cecourse before the Meydan Race- heart of Dubai. We had to see it. an idea of what is on offer: The Meydan Golf Course. at 12:00 midnight on 12/12/12. The are not competing on container we are doing”. course was officially inaugurated We saw it. It is impressive. 10 Commerce SPECIAL SUPPLEMENT � SATURDAY, JULY 23, 2016 � El economista SPECIAL SUPPLEMENT � SATURDAY, JULY 23, 2016 � El economista a www.mymmerchan.com production Commerce 11

José Ramón Saiz, chief executive officer of Spanish Kits Abdulla Al Maeeni, director general of esma be more efficient in terms of time whether to take it. and costs. The entire procedure is Q: How open to halal have you in Spanish and the requirements and found Spain? standards very clearly set out. It is A: Both the government and com- The importance of being halal a process to determine whether the panies have taken it very seriously. Spanish Kits in the world product complies with Sharia law. We have achieved a lot in a short Spain and the UAE join forces to facilitate the For example, if it contains alcohol space of time. Spain has seen the or pork, it is not halal. Some compa- great opportunities opening in areas issue of halal certification for Spanish companies nies believe that converting to halal such as tourism and hospitality. For Greece is complicated and costly, but this is example, a restaurant in Granada Italy Turkey Any Spanish company which has rado and an opportunity for Spanish the world. Spain is one example; in not true. Production costs may even being halal will give its owner a Lebanon Syria Morocco Iraq initiated the proceedings to export companies to gain a greater market 2015 we signed an agreement with be reduced. competitive advantage when a Mus- Tunicia Jordan UAE to a Muslim country has found it- share in the UAE and other Mus- ENAC and started a process of dia- Q: There are reports which suggest lim visits the city. It is the customer Haiti Mali self facing the requirement of ha- lim countries. The humanitarian aid logue with the Spanish government, that one of the difficulties you face who asks for and seeks out the halal Senegal Chad Yemen Guinea Nigeria ving its product certified as halal. product developer Spanish Kits and with help from the Spanish Embassy when it comes to boosting halal cul- seal. Konakry South Sudan Until recently, the difficulty arising cosmetics firm Natura Bissé became in the UAE and companies such as ture is the connection non-Muslims Q: For meat to be halal, the slaugh- Central African from this imperative was enough the first Spanish companies to recei- Natura Bissé. As a result, aware- perceive with a way of extending ter of the animal must follow a spe- Republic to discourage the entry into some ve ESMA certification in February ness and the demand for informa- your religion. Some even associate cific procedure. What do you think markets. In recognition of this, in Madrid. This interview took place tion from Spanish companies have it with Islamist terrorism and a desi- of bullfighting? the governments of Spain and the two months later in Abu Dhabi be- increased. In the coming years, all re by Arabs to reconquer territories. A: It does not interest me and I do United Arab Emirates (EAU) have cause, as his colleagues attest, “Ab- things halal will be a new business How can you prevent such thinking? not understand why people do this. come together to facilitate the pro- dulla never stops.” opportunity. Q: A businessperson would ask you Summit will be held in Dubai, an how much it costs to be halal. Is it initiative by Dubai’s ruler in order “A restaurant in Granada worth it? to promote his city as the capital being halal will give of this kind of economy. At the HALAL-CERTIFIED KITS A: The question should be: Is there event, prizes will be awarded to its owner a competitive a business opportunity in Muslim In 2015 Spain’s Muslim popula- eight innovative concepts seen To show its genuine commitment to the Muslim population, the countries’ halal economy? In 2013 it tion (1.9 million) consumed halal as crucial for the holistic deve- company Spanish Kits _which specialises in the fabrication of advantage when a amounted to 2.3 trillion US dollars, products worth 2.6 million euros lopment of the industry in the innovative kits for use in the field of humanitarian aid, hospital Muslim visits the city. (a 3% rise on the previous year). following sectors: finance, food patients and child dental care_ has just obtained for its pro- and despite the worsening global There are more than 300 certified and health, media, hospitality ducts the highest certification from ESMA (Emirates Authority It is the customer who scenario, it is posting 14% annual companies. This data is from the and tourism, SMEs development, for Standardization and Metrology). It is the first company of asks for and seeks out growth in several sectors such as Global Islamic Economy Gateway, Islamic economy knowledge in- its kind to receive the honour, presented personally by Rashid logistics, hospitality and tourism. a joint effort between Dubai Isla- frastructure, the provision of waqf “You don’t see anything the halal seal” mic Economy Development Cen- (donations for public or charitable Ahmed Bin Fahad, the United Arab Emirates’ former minister for There are two billion Muslims in tre (DIEDC) and Thomson Reu- use) and the arts. The deadline for the environment and water. Abdulla Al Maeeni Islamic countries who look for this ters. In October the fourth edition the consideration of projects will kind of products and services. The- of the Global Islamic Economy close on July 31, 2016. like this in other countries” products which improves their that it would work for at least six cess and make it possible to obtain re is also a category of non-Muslim quality of life gave real meaning to months even when wet. Last year we the certificate from Spain through QUESTION: How much do we consumers who demand them. The A: By informing governments Nor do I like to see people risking Spanish Kits is a 100% Spanish-owned company and official our company. And we adapted. The renewed our contract with Unicef to the National Accreditation Entity in Spain know about the halal eco- opportunity sign is there and econo- properly and in detail as regards their lives running in front of a bull. usual thing in humanitarian aid is to include another kit, comprising a (or ENAC according to the Spanish nomy? mic benefits undeniable. the meaning of the halal economy. We have camel races and no one provider to organisations such as the International Red Cross go out and buy stock and leftover high-density polyethylene bucket acronym), thanks to an agreement ANSWER: European governments Q: But how much does it cost? There were governments in the past ends up hurt. This has nothing to do and United Nations agencies including Unicef and ACNUR. production from whatever happens with several hygiene products with ESMA, the Emirates Authority know little about the requisites for A: On average, depending on the which refused to speak to us becau- with halal. The main condition for to be on the market. But when you inside. Not any old plastic will do; for Standardization and Metrology. being halal. There is ignorance and size of the company, it costs around se they thought it was a religious an animal’s slaughter is that it has Now it is seeking contracts to deliver Emirati humanitarian work with the major aid organisa- this is very light and strong. African The director general of the latter, confusion. Most think that it is a 10,000 AED (2,413 euros). That issue they wished to steer clear of been relaxed for at least 24 hours tions, you can’t depend on a given women fill them with water but it Abdulla Al Maeeni, has been pin- religious obligation, when in fact includes the inspectors’ visit to the [Al Maeeni apologises for not wi- beforehand and has been well trea- aid and boost its presence in the UAE and Middle East factory having a product today, and won’t break if it is dropped. It has a ging around the world for months, almost everything has to do with factory and evaluation of the pro- shing to name names]. Our job is to ted. The animal’s death must be tomorrow who knows? So we de- lid and can be used for storage. clearing up confusions and belying the production process. That’s why duction process. In Spain that figure sit down with them and demonstrate quick and clean, without causing it n Holy Tuesday last Easter, tacts from the highest level will drop out of a free zone and provide to the cided to make our own products to Q: Which is key when you are cho- prejudice about the halal economy, we focus our efforts on working will be lower thanks to the agree- that this is an economic opportunity suffering and never in the presence José Ramón Saiz, the chief by the expo centre. Dubai hosts the American Hospital Dubai, SEHA, guarantee the homogenised quality sen as a supplier: product or price? convinced that this is a new El Do- with the authorities in this part of ment with ENAC, allowing us to on offer and that it is their decision of other animals… executive officer of Spani- headquarters of International Hu- VPS Healthcare and Zayed Military of all of our kits. A: Our reputation as a reliable su- Osh Kits, pulled a plastic sheet over manitarian City, the world’s biggest Hospital. Now they are considering Q: Can you give us an example? pplier that delivers a product in the products the company was exhi- aid logistics base with more than whether to start producing in the A: [He chooses a kit they have been accordance with the quality and ti- biting at DIHAD, the Dubai Interna- 90,000 square metres of storage spa- Arab country. making for Unicef since 2008 and mescale demanded. Price is always tional Humanitarian Aid & Develo- ce (equivalent to 12 football grounds takes out a dynamo torch]. This important but we keep winning pment fair. The event is presided by like the Bernabéu). At the centre, QUESTION: How did you get into already existed on the market, but tenders despite the fact that ours is Princess Haya, wife of Sheikh Mo- 18 kilometres from the new DWC humanitarian aid? it tended to break. We innovated so a little higher than the competition ANSWER: We were born in 1996, because we produce in Spain rather making toilet bags for hospital pa- than in Pakistan, India or China. “When you work with the major aid organisations, tients. In 2000 Spain’s Red Cross “They are very different Q: What is your message to Spa- was organising supplies for war re- nish companies with regard to the you can’t depend on a given factory having a fugee camps in Kosovo [According to us. Once you UAE? product today, and tomorrow who knows? So we to ACNUR, more than half a million understand the way A: This is a place which requires decided to make our own products to guarantee the people were displaced] and they as- they work, there are real commitment. You have to be ready ked us to make a bid for a tender, to understand people here because homogenised quality of all of our kits” which we won. We had a very tight opportunities” they are very different to us. Once deadline to deliver products new to you understand the way they work, us and whose fabrication had not there are real opportunities hammed Bin Rashid al Maktoum, Al Maktoum International Airport been organised. We managed; that ruler of Dubai and the UAE’s vice and 21 kilometres from Jebel Ali, was our first big international con- president and prime minister. It was the biggest port in the Middle East, tract. 6pm and the cleaning team was set- UN agencies, the International Red Q: And also the start of a new line ting about its task. Minutes earlier, Cross and around 100 other NGOs of business? Disasters and wars are unpredictable events but caring for the directors of international procure- enjoy free office and warehouse A: Business depends on activi- victims cannot be mere improvisation; there is anticipation and ment for Doctors Without Borders space. “This is something you don’t ty and the meaning you give to it. innovation. The biggest tender won by Spanish Kits was from had approached the stand, forming a see in other countries. Sheikh Mo- Thanks to the Red Cross we have the International Red Cross: “600,000 kits to be sent from Va- lencia in 400 forty-foot containers with more than 15 million circle as Saiz took the opportunity to hammed is a great visionary and been fortunate down the years to bars of soap, 30 million sanitary towels, which we make our- explain the benefits of his patented solidarity is part of his vision. To keep close contact with the great selves, and all under a very tight and rigid time schedule. When educational dental kit for children: it do all of this you need funding, but, drama of immigration. In 2006 and dealing with such quantities, many logistical problems arise teaches them how to clean their teeth above all, you need to want to do it 2007 immigrants were arriving on which give you the chance to shine. The tricky thing about kits and develop the good habit of saving and he wants to do it”, says this Spa- Spain’s shores crammed into little is compiling products from very different kinds of factory. If one water, a resource which is growing nish businessman who has a natural boats in a terrible state after two is missing, everything is paralysed. And your lorry is not the scarcer worldwide. The kit has won empathy towards refugees. It took weeks adrift among the elements. only one heading for the refugee camp. It is vital to have a team international prizes for innovation. the company three years to obtain I have witnessed this part of hu- capable of seeing the big picture in terms of what needs to be It counts to be at this fair. Everyone its first contract in the UAE, where manity that lives in very difficult done because making a mistake on delivery means leaving a who knows Dubai is aware that con- they operate through a subsidiary conditions. Being able to develop family without aid.” 12 Commerce SPECIAL SUPPLEMENT � SATURDAY, JULY 23, 2016 � El economista SPECIAL SUPPLEMENT � SATURDAY, JULY 23, 2016 � El economista a www.mymmerchan.com production Commerce 13

group’s most important markets, FRIENDS lopment Agency, said in April along if not the most. “Dubai has been ACROSS THE WORLD with another 10 Emiratis at the chosen, after London, as the second SBC’s spring gala dinner. Al Sarkal best city in the world in terms of Well aware of the opportunities that feels a personal bond with Spain With a strong presence of brand availability. It is a very im- exist in the Emirates, both the Spa- and Spanish brands. The event was portant destination for brands on all nish Embassy in Abu Dhabi and the supported by the Brands Forum Spanish brands in the textile levels. The retail market – clothes, Spanish Business Council (SBC) and office of the government’s high drinks, food, etc. – accounts for – the association of Spanish com- commissioner for Brand Spain – sector, retail and wholesale 28.148 billion euros and is expec- panies in the UAE – put the insti- which is fed into by the big names ted to grow by 7%”, he points out. tutional resources they have to hand in the various sectors – as well as the commerce in Dubai accounts Within three or four years, almost to good use in order to gain access Spanish Embassy in the UAE. Du- four million square metres will be to their Emirati counterparts. “I can ring the celebration, SBC president available. To stay at ahead of the say I am a Friend to Brand Spain”, Ricardo Fisas reminded the more Salem Obaidalla, senior vice presi- gy (ESMA), Gulf Power Marine, for around one third of its pack, Dubai continues to reinvent Marwan Al Sarkal, CEO of Shar- than 200 guests that trade between dent of Aeropolitical and Industry Chalhoub and Restaurante El Sur. itself. “We take on board the latest jah’s Shurooq Investment and Deve- Spain and the UAE “has grown by Affairs at Emirates Airlines; and Fisas reminded his audience that annual GDP more than 73%” since 2010, and that Hoda Kanoo, the director of the Abu the 2020 World Expo in Dubai will Spanish exports to the Arab country Dhabi Music & Arts Foundation. represent a fresh opportunity for “By far, most of our business comes from Inditex: top 1.5 billion euros a year. Among Additionally, Nature Bissé, Cosen- Spanish know-how and experience Somewhat slow in the first between 60% and 65%”, César Moukarzel, Azadea’s the other people recognised at the tino, Lladró and Marqués de Cáce- to reap their rewards. Now there are event were Sheikh Majid Al Mualla, res recognised as “friends” of their ‘Friends of Brand Spain’ in Japan, half of 2016 but hopeful for CEO in the UAE, confirms” senior vice president of commer- own brands the Emirates Authority Hong Kong, the United Kingdom, the second, the market will cial operations at Emirates Airlines; for Standardization & Metrolo- China, Russia and the USA. concepts. For example, in the Pull keep growing, but is faced & Bear store we have just opened in Dubai which measures 900m2, twice as big as the previous one. with a generational change We also have a renovation plan for Zara over the next few mon- ths. This brand’s Dubai stores are among the top five in the world, so it’s important to be a flagship and a shop window for the whole re- gion”, Moukarzel explains. Azadea is also the franchise operator for Punto Roma and Mary Paz. The lat- Shopping the Emirati way ter Spanish brand which specialises in low-cost footwear has yet to arri- e have been summoned But this makes little odds as the city are focusing more and more on ve in Dubai, but it is present in the by our host – a Spa- welcomes large numbers of tourists children’s clothes. The Gulf average Sahara mall in Sharjah, the emirate niard who has spent every day of the year. Dubai has is 5.2 kids per family; in Europe, to the north of Dubai. This destina- Wthree years in Dubai managing the hotel accommodation for 73,700 it’s 1.6. The average transaction in tion is just a 15-minute drive from subsidiary of a construction multi- people shared between 462 hotels this category is 50% higher than for Deira City Center mall, where Aza- national – to a restaurant in Dubai and 25,249 rooms in aparthotels. adults. Arab customers care about dea’s central offices are based in Mall, the biggest shopping centre Official figures point to 14.2 mi- quality and design, but not about the oldest part of Dubai. Owned by in the world. “Look out at the te- llion visitors in 2015. Dubai Mall, where it comes from.” Tesseyman Majid Al Futtaim, when this mall rrace”, he tells us, because it is 7pm owned by Emaar Group, receives is a British citizen who has been in opened its doors in 1995, it revo- and at that time the choreographed 80 million visits a year. Marcià Co- the Gulf for nine years. He believes lutionised the shopping centre con- Dubai Fountain water show begins dinachs, a Catalan architect who has that the sector is on the verge of cept by integrating all kinds of lei- with lights and sound, plus strains worked for the group, says Emaar dramatic and challenging changes sure facilities. Despite the passing of Enrique Iglesias singing “Bailan- “doesn’t waste time; meetings last both in the UAE and countries in the of so many years, it remains one of do” in the background. Hundreds of no more than 15 minutes and are Gulf Cooperation Council (CCG) Young Arab women at Mercato shopping mall in Dubai people – “thousands when it gets conducted standing up; then, it’s as a whole. “They continue to open really hot” – crowd in front of Burj straight back to work.” This mall is malls and to fill them, tourism best mall in the best location until “It used to ‘build it and Khalifa, the world’s tallest building, just one of more than 60 scattered has to keep rising. I keep in mind “The Gulf average is 5.2 one day they find their stores are they will come’, but now a statistic from Bain consultancy kids per family; in Europe, empty and it’s time to lower rents. you have to be smarter and which said that by 2020 the space it’s 1.6. The average We are at the start of that process”. carefully think through each “Sentiment counts for more than facts. All over the world, available for leasing would be 30% owners are the last people to see the reality; they believe greater than demand. There will transaction for children’s THE LEBANESE brand’s strategy. The shi- they are running the best mall in the best location until one always be some malls people want clothing is 50% higher than CONNECTION by Inditex niest and most fashionable day they find their stores are empty and it’s time to lower to go to, but what about the minor for adults. Arab customers malls are not necessarily the ones? Will they survive?” And this Since 1998, the Lebanese company rents. We are at the start of that process” care about quality and best for our interests” is without mentioning e-commerce, design, but not about where Azadea has been the franchise ope- “which is growing faster in the rator in the Middle East for most which serves as a dramatic back- around Emirati territory; spaces for UAE than in the rest of the region”, it comes from” Inditex brands. This year they ac- the most visited mall in the region. drop. Voices from all corners of the buying, socialising, seeing and be- or social networks “which will quired the rights to Zara and Mas- According to Deira City Center’s world – Indians, Britons, Saudis, ing seen amidst the shop windows play a crucial role over the coming for our interests”. simo Dutti in Lebanon and in the owners, annual traffic stands at Omanis and Americans (these are of international brands, including years. There is a generational Liwa Trading is currently UAE, where they hold the complete more than 20 million visitors. You the most numerous visitor natio- leading Spanish names: Zara, Stra- change. Let’s consider the growth renegotiating contracts with its Inditex set except for Stradivarius, won’t see many Westerners there, nalities) – join together in a great divarius, Mango, Punto Roma, and rising influence of bloggers… Spanish brands because, it argues, which is managed by Dubai Hol- but lots of Asian shoppers. “Due “Ooooooooh”. When the show Massimo Dutti, Women’s Secret… 10 years ago they didn’t even exist. their model is different to the rest ding Group, an Emirati company to the heat and the culture, people is over, the people return to their Commerce didn’t know how to deal of the world. “Every day I get calls which also operates Zara and Zara in this part of the world do their shopping, the city’s favourite pas- IN EMIRATI HOUSES with it. We have a lot of work ahead from new brands, but you have to Home in the emirate of Abu Dha- shopping indoors. You can’t stand time which owes around one third KINGS MAKE THEIR HOME of us. Walk down the street and be very careful; at the moment we bi. Azadea has global turnover of alone; brands have to join together of its GDP to retail and wholesale people don’t look at you; they’re sign, we start to earn lots of money 1.760 billion euros and is present to make the shopping experience commerce, according to the Dubai “Despite a few ups and downs, we looking at their mobile. The average and it is ours, not the brands’. The in 14 countries, where it controls satisfactory to the consumer. Are Statistics Centre (DSC). The sec- will double our number of stores Emirati – our best customers – has price of a square metre in the malls 650 stores and 55 brands. “By far, we open to new brands? Yes, as tor provides jobs to half a million in the next 18 months”, says Mark three mobiles, and we have to has doubled in the last five years most of our business comes from long as they offer value to our con- people. International consultants Tesseyman, CEO of Liwa Trading, avoid becoming overexposed to the and it’s still going up”, he explains. Inditex: between 60% and 65%”, sumers and complement our range. rate Dubai as one of the best desti- an Abu Dhabi company which property market. It used to ‘build it How can this be the case when César Moukarzel, Azadea’s CEO in Despite some ups and downs, the nations in which to buy, competing manages the franchising of Spanish and they will come’, but now you economic growth has slowed down? the UAE, confirms. This Lebanese market is still growing and Dubai with London and New York, even children’s brands such as Gocco have to be smarter and carefully “Sentiment counts for more than executive prefers not to disclose the will go on to play an even bigger though its population is far smaller: and Charanga. “They account think through each brand’s strategy. facts. All over the world, owners weight of the UAE in his group’s role in the region. Dubai will keep 2.35 million in 2015, 45% of whom for 18% of our sales volume and The shiniest and most fashionable are the last people to see the reality; consolidated results, but one can on shining.” are under 35 years old, reports DSC. their influence is important as we malls are not necessarily the best they believe they are running the imagine that it must be one of the 14 Environment SPECIAL SUPPLEMENT � SATURDAY, JULY 23, 2016 � El economista SPECIAL SUPPLEMENT � SATURDAY, JULY 23, 2016 � El economista a www.mymmerchan.com production Environment 15

Thani Ahmed Al Zeyoudi, Minister for Climate Change and Environment global warming. Oozing charm, the nuclear energy for peaceful purpo- the four will be generating 20% of nelling infrastructures in the world in storage for emergency purposes. minister is quite the well-prepared ses and Masdar. On this basis, the our power consumption. The other with more than 45 kilometres of pi- Q: Sheikh Mohammed, the UAE’s young man, with several academic UAE’s immediate objective is to 4% will come from renewables; in pes which lead to treatment sites for vice president and prime minister, titles to his name, including a doc- reach 24% of energy consumption some cases, such as Abu Dhabi and re-use on farms. And we have spe- was in Spain recently. He bought torate in Strategy, Programme and from nuclear and renewable sources Dubai, that percentage could reach cial projects, such as the one being two estates in Extremadura. Was Project Management from SKEMA by 2021. 7%. By 2021 we will probably co- led by the minister of presidential this trip part of your country’s stra- “We don’t want to Business School in Lille, a degree ver 30% of demand in this way. We affairs on artificial rain, for which tegy, and what is the role envisio- in Petroleum Engineering from the QUESTION: Might a neighbou- are investing around 20 billion US scientists and researchers have ned for Spain and Latin America? University of Tulsa, and an MBA ring country fear the Emirati com- dollars in nuclear and five billion in from the New York Institute of Te- mitment to nuclear energy? renewables. chnology. He is his country’s per- ANSWER: The international com- Q: How do you plan to deal with “Our leaders have always been visionaries: put all of our eggs manent representative at IRENA munity is observing the UAE with water shortage and what impact (the International Renewable Ener- respect to the implementation of will this have on your food security They anticipate the future before the rest of us. gy Agency, based in Abu Dhabi), such projects. In 2009 we signed strategy? Our country’s wealth lies in them and a loyal as well as being a former director what is known as the ‘123 Agree- A: We will continue to use desali- population, and not in hydrocarbons. Sheikh in one basket” of Masdar – the Abu Dhabi Future ment’ with the United States on nation plants but they will opera- Energy Company – and the Energy peaceful nuclear cooperation. We te with clean energy. We are also Mohammed’s investment in Spain clearly has a and Climate Change Department are transparent; we have no hidden making major investments in the vision behind it: to diversify our supplies in Spain The United Arab Emirates is looking to within the Ministry of Foreign agenda. We are building four reac- application of hydroponic cultiva- Affairs and International Coopera- tors with a total capacity of 5,600 tion techniques and organic agri- and Latin America” Spain and Latin America in order to fulfil its tion. The UAE, which in Decem- megawatts [the minister is referring culture where there is less need ber 2015 became a signatory to the to Barakah, the first Emirati nuclear for water, as well as investigating Paris Agreement to combat global plant run by ENEC, the Emirates how to capture moisture inside been asked to present their discove- A: Our leaders have always been food security strategy. The country imports warming by reducing greenhouse Nuclear Energy Corporation]. The greenhouses. What’s more, we can ries. In the last two years we have visionaries. They anticipate the gases, launched two key projects at first will be ready to connect to the proudly say that we have launched seen that the clouds mass, it rains future before the rest of us. Our 90% of what it consumes, and expects to the start of the century: developing grid at the end of 2017 and by 2020 one of the largest waste water chan- more, and this happens without da- country’s wealth lies in them and maging the environment. Yes, 90% a loyal population, and not in hy- double the volume of imports by 2030 of what we consume is produced drocarbons. Sheikh Mohammed’s Blue carbon and green mangroves abroad, but 80% of our population investment in Spain clearly has a A kayak route amongst the many hectares of mangroves are foreigners. Everyone attacks vision behind it: to diversify our s you know, business ted air of all countries in the world since it was founded in 1971. Shei- by the Emirati capital is an irresistible temptation. These us when at the end of the day most supplies in Spain and Latin Ame- people never give – from a 90-strong list – and, ac- kh Zayed wished to protect these habitats are crucial to the country due to their capacity consumption is not done by Emira- rica. Spain is a partner with whom anything away un- cording to Ecomena, its water con- elements for future generations and, to store blue carbon, that captured by the oceans and tis, but nobody mentions that point. we would like to seek opportuni- “Atil the deal they are working on is sumption is amongst the highest on against the view of experts who said coastal ecosystems and which is crucial in the mitigation We could grow whatever we wan- ties, by buying land and even co- well and truly closed”, is the answer the planet (550 litres a day, two- it would not be possible, he refores- of climate change. “When infrastructure is developed in ted on our soil, but water use must llaborating with Spanish compa- given by the United Arab Emirates’ thirds of which are used in agri- ted Al Ain [the second biggest city this area we relocate mangroves to specially designated be measured. What we do produce nies within the Iberian Peninsula minister for climate change and culture and industry). The World in the emirate of Abu Dhabi from marine areas in order to return them to their habitat is done without putting our reser- in order to reach our goal of food environment, Thani Ahmed Al Ze- Resources Institute says that 14 of where the royal family hails], tur- afterwards. Many of our oil and gas platforms are offshore, ves at risk, and we invest abroad, security. However, we are also youdi [Dr. Al Zeyoudi to his office], the 33 countries which will be worst ning it into an oasis. Now it is one and the national companies are doing an excellent job but not just in a single country; we going to focus on Africa. when asked if his country is current- affected by future water scarcity of the region’s most extensive green in environmental terms by protecting biodiversity and don’t want to put all of our eggs in Q: Are you already in talks with any ly negotiating any specific projects are in the Middle East, with GCC sites and the quality of its aquifers investing a percentage of their earnings in the planting of one basket. We must ensure that companies? concerning renewable energies and/ countries top of the list. “Contrary is among the best”, Al Zeyoudi ar- “The Emirati oil industry was one of the first in mangroves along the beaches”, says Thani Al Zeyoudi, the our investments are safe and that A: We want to involve the private or food security with Spain or Spa- to all those clichés that you hear gues, adding that the Emirati oil the region to promote the reduction of gas flaring, UAE’s minister for climate change and environment. The they will not bring in diseases that sector. We are facilitating commer- nish companies. According to the about the UAE, environmental pro- industry was one of the first in the country has set in motion a National Blue Carbon Project destroy this country’s biodiversity, cial agreements and looking at mat- World Health Organization (WHO), tection and water conservation have region to promote the reduction of which contributes to global warming” to boost awareness of its marine ecosystem’s potential. although we have our own reserves ters relating to double taxation. the UAE has the sixth-most pollu- been one of the pillars of our nation gas flaring, which contributes to

Abdullah Al Ahbabi, Chairman of Abu Dhabi Chris Chi Lon Wan, Head of Design Management at Masdar City Sewarage Services Company (ADSSC)

participate in this type of projects. Q: Do the headquarters of Siemens, “The only failure IRENA and the Masdar Institute of Eighty metres below Science and Technology fit into this model? A: Yes. For example the Siemens the face of the Earth is to do nothing” building has a 3-rating from Pearl A short 34-kilometre drive from sovereign wealth funds, Mubada- Estidama and is Leed Platinum A sustainable sewage network worth 1.172 billion euros the Spanish Embassy in Abu Dhabi la, the project was first conceived standard. It saves 43% energy and has made Abu Dhabi the region’s leader in this sector brings you to Masdar City, next to in 2006 with Masdar City due to be more than 50% in water. Lots of the capital’s international airport. completed in 2016. It is not. institutions thought this was im- Matter is not created or destroyed, but it is transfor- dens, among other things, through projects also ma- Designed by Foster & Partners possible. ‘We don’t know how you med, said Antoine Lavoisier in his law of conserva- naged by ADSCC. and powered by renewable energy QUESTION: What do you say to did it’, they said. But here we have tion of mass, or matter. Water is matter and Abu Dha- The tunnel, which required an investment of 1.172 sources, more than 3,000 people people who call this a failure? concrete results. bi, which obtains four billion litres of it per day from billion euros, has meant that 34 pumping stations can work in this miniature smart city. ANSWER: The only failure is to Q: Have you had to put some ideas A: The thinking process applied in desalination, wants to do its utmost to re-use it in a be removed and, according to those who run the sche- Around 350 SMEs are registered do nothing. If they think that there aside? Masdar City to develop a city with sustainable way. Just a bridge away from the Emirati me, is one of the greatest infrastructures in this sector in Masdar’s free zone, which is are flaws, they should tell us and A: Yes because technology is chan- a low carbon footprint is applicable capital, Al Reem Island is the base of the Abu Dha- to be found in the Middle East. “It took us three years dominated, however, by three hea- we will listen. Masdar City is a ging so fast. We have to keep adjus- to anywhere in the world. In Spain bi Sewerage Services Company (ADSSC). From its to plan it. We studied each aspect of the project: the vyweights: Siemens, IRENA and thriving community and 100% sus- ting to technological advances. the result would be a city that looks skyscraper headquarters, you can see clumps of man- social benefits, the economic impact and its sustaina- WHY UAE ? the Masdar Institute of Science and tainable, which is unique. In 2008 Q: If we come back in five years, very different to this one, but it groves piercing into the city like tongues. ADSSC’s bility”, explains Al Ahbabi. The programme covers Technology, a joint venture with the we started a whole package of ex- what will we see? would have the same principles of chairman, Abdullah Al Ahbabi, describes himself as current needs and those of the future up to 2030, by Massachusetts Institute of Techno- ploratory thinking; you learn, you A: We are in Phase 1 out of 5. Once sustainability. You have to try to an “ecologist by nature”. His task is to help to reduce which time it may be dealing with a flow of 1.7 mi- logy (MIT). Chris Chi Lon Wan build and revisit. We try out ideas in that is finished, we will have 1.2 ask the right questions to guide this the emirate’s water consumption through intensive llion m3 per day (680 Olympic pools). “Its productive – a British architect who has been order to identify best practice, but million m2; 90% of this phase is process. That’s the hardest part. If capital investments, among which the star project is life is about 80 years, but at the start it is only going working as the city’s head of de- the global economic climate hangs built, being built or being designed. you can do that, you are halfway STEP (Strategic Tunnel Enhancement Programme). to be used at 30% capacity because the idea is to gra- sign management for seven years – over us. Sustainability is based on In five years, that 90% will all be there. Launched in 2008 and now in the final straight, this dually absorb population increases,” says the ADSSC offers me a seat on a sofa in a shady three pillars: economic, social and completed. We are experiencing Q: Are you happy here? treatment programme allows waste water from the chairman. spot between two streets. It is 38ºC environmental, and the city will an almost logarithmic growth. The A: Absolutely. Working in Masdar capital, and that of the larger metropolitan area and Al Ahbabi, who in May was named as chairman in Abu Dhabi today, but 32ºC here. progress naturally towards the op- interest from external parties will City is something that comes from adjacent islands, to flow by gravity along a 45km of the Abu Dhabi Water & Electricity Authority Although no Spanish companies timisation of these pillars. probably increase at the same loga- my heart and we are lucky to have a tunnel which is 80 metres under the ground and up (ADWEA), calculates that this sector and Abu have registered their presence here Q: What have you proved so far? rithmic pace. team of people who are passionate to 8m wide. It empties at a plant in Al Wathba which Dhabi’s treatment network maintain and operate yet, there is a steady trickle of firms A: That you can be sustainable, re- Q: The UAE experiences tempe- about what they do. There are many is able to absorb 30m3 per second; in other words, it assets worth some 200 billion dirhams (49 billion which have made clear their inte- source efficient and also a profita- ratures of up to 50ºC. How much hurdles to overcome, as one would could fill an Olympic pool in 1 minute. Once treated, euros). “It is a mature sector… and it works under To explore business enviroment in UAE, Visit our website www.economy.ae rest in Masdar, among them IDOM. ble venture. Now we can encourage of what you have developed here expect from such a project, but that the water is channelled back to the metropolitan area pressure from the regulator, who cares most about the Managed by one of Abu Dhabi’s the decison-makers of this world to could be applicable to Spain? is all part of the challenge. to be used in the irrigation of the city’s parks and gar- consumer, the government and investors.” 16 SPECIAL SUPPLEMENT � SATURDAY, JULY 23, 2016 � El economista

SHARJAH AND SPAIN GETTING CLOSER Iran Hormuz Strait Arabian Growth forecast for Sharjah’s Gulf Travel & Tourism Market Sharjah Indian Shurooq enhances Qatar Dubai Ocean Abu Dhabi (in billions) AED EURO EAU 2016 1.54 379 Oman Sharjah’s landscape 2017 1.63 401 Saudi Arabia for Spanish investors 2020 2 492

Sharjah Mleiha Archaeological and Forecast for 2020 Eco-tourism project (*) Investment and Projected Investments: (in billions) AED EURO 250 million AED Development (61,49 millions Euro) Restaurant revenues 1.15 282,7 Authority’s (*) One of the most important tourist and archaeological projects in the UAE and the Resident largest of its kind in the Central Region of expenditure 4.66 1.147,3 eco-heritage the Emirate of Sharjah projects provide key insights Aparthotels Hotels GCC 18% 32% on Sharjah’s Guest Origin Europe 40% 20% emerging sectors Asia 17% Al Qasba Channel in Sharjah. Photo: MyMMerchan. UAE 13% harjah Investment and De- Tourism and archeology king new experiences that engage velopment Authority (Shu- The commencement of the Mleiha with their senses and provide them Sharjah continues to build itself as an authentic rooq) is the driving force for Archaeological and Eco-tourism with historic and traditional values tourist destination with demand for hotel rooms expected to grow at a rate of 6.2% by 2016. Despite Sgrowth in Sharjah’s tourism sector project in 2015 marked Sharjah as that are unique and educational. In new project announcements, demand is expected to and in both its and the wider UAE’s the region’s leading destination for the case of Sharjah, it means that outpace supply in the short to medium term. economy. Since its establishment in archaeology and environmental sus- visitors walk away inspired by the 2009, Shurooq has created and de- tainability. Shurooq was able to ex- emirate’s rich history,” Sheikha Bo- veloped multiple tourism projects plore various investment opportuni- established in the UAE, and their in Sharjah and signed Memoran- ties and attract diverse segments of bilateral export-import trade sectors dums of Understanding with nume- business partners who contributed “Nowadays, tourists are seeking new experiences that which are continuously experien- rous local and international entities. significantly in making this deve- engage with their senses and provide them with historic cing positive returns. It has merged and integrated busi- lopment one of the largest historic and traditional values that are unique and educational. ness expertise under one umbrella attractions in the world. Along with In the case of Sharjah, it means that visitors walk away Growing interest in Spain to promote Sharjah as a central des- Al Noor Island, Sharjah’s latest London-based real-estate agent tination for diversified investments tourism and leisure project to boast inspired by the emirate’s rich history” Chestertons published a study in and tourism projects in the region. state-of-the-art facilities which was 2015 showing that UAE investors Shurooq’s tourism ventures, in- launched in December 2015, it has dour continued. nity to dine with the Ambassador of are becoming increasingly interes- cluding the Mleiha Archaeological successfully established Sharjah as Shurooq’s launching and develo- Spain, H.E. José Eugenio Salarich ted in Spain’s real-estate market. and Eco-tourism project, Al Noor the most diverse investment hub in pment of an array of leisure, artistic, Fernández de Valderrama and with Housing sales in the country grew Island, Al Qasba, Al Majaz Wa- the MENA region. cultural, business, archaeological high-level business persons and by eight per cent in the first half of terfront and Heart of Sharjah, are “Sharjah is a vibrant emirate that and eco-tourism projects are attrac- officials from Spain at a luxurious the year, with more UAE and Gulf among many of its unique deve- is home to numerous wonders and ting new investment opportunities Gala dinner organised by the Spani- buyers looking to invest. Additio- lopments. Exceeding international attractions which reflect its central across numerous travel and tourism sh Business Council. nal value that UAE investors see in standards, these destinations give role in the history of Arab civilisa- sectors. Its ultimate vision is to pro- Additional advantages for Spanish Spain include its ‘Golden Visa’ rule. tourists a glimpse into the past, pro- tion. We have capitalised on this by gressively promote Sharjah as the investors looking at Sharjah include Since 2013, non-resident investors viding a whole new perspective on mixing these traditions and heritage central investment destination to the emirate’s ultra-modern infras- that acquire real estate for a value of the travel experience. with modern structures, hybrid-con- local and international investors. tructure and transport network, ski- at least, 500,000 euros are eligible to cepts in building architecture, envi- The UAE and Spain’s business lled workforce and political stability. obtain residency by dint of their in- ronmentally-friendly and wild- interests are predicated on their In 2014, Shurooq organised another vestment, which allows the investor life-preserving initiatives and existing healthy economic rela- Sharjah–Spain roundtable, building and their family to travel within the unique tourism experiences tionship. In 2010, the UAE-Spain on the positive success between Schengen area without visas. It also that deliver true value to Joint Committee was first establi- the two entities and attracting new allows them to stay within Spanish residents and tourists,” shed as a strategic step towards investors and investments into the territory for as long as desired wi- said Sheikha Bodour Bint enhancing economic cooperation emirate. The event discussed signi- thout a minimum stay necessary in Sultan Al Qasimi, Chair- between the two countries. ficant economic positioning which order to maintain their residency sta- person of Shurooq. Sharjah and Spain underwent, and tus. Moreover, Middle East compa- “Cultural tourism Two good friends it’s strategic opportunities to boost nies such as, IPIC (International Pe- and unique travel ex- Developments between Sharjah their FDI and bilateral investment troleum Investment Company of Abu periences are increa- and Spain have also recorded great plans. Furthermore, the event hi- Dhabi), Emirates and Qatar Airways singly important in milestones, especially in 2013, ghlighted existing opportunities are among the top giants who have the global travel when Shurooq received a Spanish experienced by Spanish companies entered the Spanish market. sector. Nowadays, delegation with the aim of encou- Shurooq is an independent tourists are see- raging more Spanish companies government organisation that to invest in Sharjah. The emirate’s About Shurooq: facilitates partnerships and connects investors with relevant dynamic business environment and opportunities. Shurooq aims to create authentic destinations that its market-oriented economy, in are committed to enhancing the quality of life for citizens and combination with its many gover- residents, as well as foster an environment where businesses nment incentives to industrial and thrive and ideas flourish. Established in 2009, Shurooq strives business activities, were among the to encourage investment in Sharjah by adopting the best advantages that have enticed Spa- international standards in providing quality services that help nish investors. In April 2016, the attract investors from both the region and the world. heads of Shurooq had the opportu-