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We are just a few days away from reaching the end of another successful year and are gearing up for the start of 2022. As we end the year on a high note, we can look forward to a new working week as well as an exciting new chapter.
In this edition of the newsletter, we will hear some updates from across UAE Diversified Assets as well as our successes and achievements from across Q4. We will also get to know some of our colleagues, learn about recent travel adventures and get a book recommendation.
Happy New Year to all.
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Nadin AlMaskari
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Not everyone knows this about me, but I have always had a love for horses! I started riding when I was 8 years old and never stopped including training five days a week. I got into show jumping and started competing in the UAE nationally and internationally. It has been a great experience so far. I also had the opportunity to work as a riding instructor for several years and teach young women how to ride. There is something so majestic about horses which always brings me peace. In this picture you’ll see my mare Molly. I encourage anyone who has ever considered horse riding to try it out, I promise you won’t regret it!
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| Tanzania Trip – Saeed Al Zubaidi |
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The planning for this trip started in a coffee shop in Abu Dhabi when I was sitting with my friends and thinking about travel destinations. We have always wanted to do the African Safari experience and attempted to plan one before, but we were a bit late, and we couldn’t find any bookings. However, this time and due to Covid, we only booked three weeks in advance and had the luxury to pick and choose where to go.
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The trip was divided into three segments: Masai Culture tour, Serengeti Safari and Ngorongoro Crater.
The Masai Culture tour started with a visit to Gabobo village which is situated on a hill with a great view of both Mount Meru and Mountain Kilimanjaro. Upon arrival, we were welcomed with traditional Masai dances and songs followed by a nature hike in the area and spear practice with the Masai Warriors. In the afternoon, we had a traditional Masai goat meal and history stories by the village chief elder.
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Serengeti is very well known for game drives and the Great Migration during the dry season (July/August/September). We were able to see plenty of wildlife such as Lions, Cheetah, Buffalos, Elephants, Hippopotamus, Wildebeest, and Giraffes. We stayed 2 nights at a Tented Lodge in the middle of Serengeti and were surrounded by animals.
Ngorongoro Crater is a UNESCO World Heritage Site which was formed by a large volcano eruption that created the world largest caldera. The area has a very beautiful landscape and high concentration of animals due to the rich and fertile grazing grounds.
Overall, this was a great destination to see people, culture, nature and animals and highly recommended for those seeking adventures.
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The Ride of a Lifetime: Lessons Learned From 15 Years as CEO of The Walt Disney Company (book) – Abdulla Mohd Sharafi
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Review:
Being a huge fan of Disney (Star Wars and Marvel in particular), I was very excited to read the somewhat-autobiographical book focusing on Bob Iger and understanding how he turned Disney around and managed the company through huge changes in the industry.
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The great thing about the book is how easy it is to read. Bob takes you through his professional career including the very interesting story of how he dealt with a stubborn Steve Jobs on the big acquisition of Pixar. It also helps the reader understand the struggles he faced during a number of multi-billion-dollar deals including Marvel and Lucasfilm.
Overall, I think it’s a great book for everyone, whether you are looking for business insights or simply an entertaining book to read.
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Monetization and Activation of
UAE Land Bank
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Following the strategic decision to monetize non-core assets, the UAE Diversified Investments team obtained several purchase proposals for projects under development and vacant plots in Dubai. After negotiations and detailed internal studies, the team obtained Investment Committee approvals for monetization of shell & core developments in the Business Bay (AED 270m) and two vacant plots in Jadaf (AED 62.7m). Execution of these two deals is in progress and is expected to close, including full payments, in Q1 2022. This will mitigate risks associated with real estate market in Dubai and provide additional funds for re-investment.
In addition, the UAE Diversified team has initiated contacts with several potential investors and joint venture development partners for land bank assets located in Abu Dhabi; these discussions are in progress.
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By Zeljko Popovic - Senior Vice President
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Within ZSC, business in the ice rink and bowling center remained strong in Q4. The 13th Mubadala World Tennis Championship also returned after a hiatus, where Rafael Nadal, Andy Murray showcased excellence in athletic performance and Andrey Rublev won this year’s tournament. In addition to venue operation tasks, Zayed Sports Academy trained ball kids, led star-player clinics and ran hands-on padel clinics in the village as part of the event. Event schedules have been picking up, with bookings for Mubadala, a diabetes awareness event and the Pink Run taking place.
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At ACTIVE, several corporate events have been held successfully, including a tennis tournament and a sports day. Celebrations for National Day and winter season offer children’s workshops each weekend in December. Repton School has also come on board as a commercial partner.
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Administratively, ADEC has taken two Train for Work employees, supporting HSE and Marketing, as well as new Head Groundskeeper and Guest Services Operative. Safety training took place in October, with 33 staff becoming certified or re-certified in First Aid, and 30 in Basic Fire Safety.
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By Saif Al Suwaidi - Associate
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Four Seasons Abu Dhabi Apartment Sales:
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The Hospitality team has relaunched the sale of units at the Four Seasons Abu Dhabi for select buyers. Since obtaining PIC approval in the summer, the team has managed to confirm the sale of the two shell-and-core penthouses (value at AED31.4m) and four other apartments (AED41m). To maintain the exclusiveness of the product, the strategy is to limit the number of units for sale each year. This will enable the team to continue to ask for sale prices that are considerably above market price, as well as maintain enough units to lease to the public.
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By Abdulla Sharafi - Vice President
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The last few months has seen lots of activity across Al Maryah Island. Back in October, the Monster Village was the first in-person event held since the height of the pandemic and saw over 22,400 visitors flock to AMI for a weekend of Halloween fun. As the nation came together to celebrate our Golden Jubilee, 40,000 guests visited AMI to join in the celebrations and enjoy the festival. Traditional skills and experiences and roaming performances were on hand to entertain the whole family, in addition to spectacular fireworks displays and amazing drone shows which closed the popular festival.
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The Winter Wonderland is currently in full swing and if you’ve not had a chance to visit yet, you can until 23rd December. The Promenade has been transformed into a winter village, with snow covered cottages and festive decorations and entertainment including a Tube Slide and Snow Zone, ice rink, curling area, and even reindeer crafting! There are also live performances including Candy Cane Lane, Yeti Funk and Frozen.
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To see in the new year, Al Maryah Island will be hosting superstars Hussain Al Jassmi, Elissa and Balqees at this year’s New Year Eve celebrations, including the best firework display in Abu Dhabi – be sure to get your tickets today!
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By Shireen Shawky Ahmed Senior Specialist - Platform Communications UAE Investments
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