Advertisements
Mission to teach Kids how to Code

Mission to teach Kids how to Code

Entrepreneur Middle East‘s Education Tech published this fantastic story on May 14, 2019, on a certain Hadi Partovi who “Having built (and funded) great startups, this entrepreneur and investor opens up on his mission to teach kids how to code.

Here is his story.

Transformative Change: Code.org Founder Hadi Partovi

By Tamara Pupic Managing Editor, Entrepreneur Middle East.

Transformative Change: Code.org Founder Hadi Partovi
Hadi Partovi

Sitting in a corner of The Third Line Gallery in Dubai’s arts district of Al Serkal Avenue, Hadi Partovi, a tech entrepreneur and angel investor known for his early bets on Facebook, Dropbox, Airbnb, and Uber, is quietly tapping away on his laptop prior to an invite-only fireside chat organized by VentureSouq, a Dubai-based early-stage equity funding platform.

He is here, wearing his signature baseball cap, to present Code.org, a Seattle-based education non-profit dedicated to expanding access to computer science in schools around the world, of which he is the founder and CEO. The main reason for founding this global social-impact initiative is his belief that mastering computer science is no less than a life-giving skill.

Sonia Weymuller, Founding Partner of VentureSouq, introducing Hadi Partovi at a VSQ Talks event at The Third Line Gallery in Dubai. 

Yet, before we expand on that, I decide to focus on his approach to investing in early-stage tech startups, knowing that I will hear something different from a phrase that gets thrown around by every startup investor out there: “I invest in people, not ideas.” Partovi also has a people-first investment philosophy; however, not only can he specifically point out to what “investing in people” actually means for him, but he can even measure it.

The Partovi twins, Hadi and his brother Ali, currently the founder and CEO of Neo, a community of young engineers and the world’s top programmers, were jointly investing in startup founders for 17 years (since 2018, they have decided to focus on individual investments), but only in those who passed their coding test. It started with the founders of Dropbox, Partovi explains. “The best tech companies don’t hire a single technical person without putting them through a lot of tests, so why would an investor consider giving hundreds of thousands of dollars without even one test to show that they can do something?” he says. “Most VCs don’t do this because they themselves don’t know the technology, so they just think whether they like the idea or not, and they just take it for granted that a person can do it. If you look at the companies that have succeeded, the idea often isn’t unique, it’s the execution.” He points out that Google was not the first search engine company, Facebook was not the first social networking platform, and Microsoft was not the first company building an operating system- but what set all three of them apart was having the strongest engineers on board.

The Partovi brothers know this from their own entrepreneurial experience. Partovi may come across as being humble, quiet, and almost reticent, but he is a man who was part of the team that founded and sold Tellme Networks, a voice recognition software developer, to Microsoft for US$800 million in 2007. A decade earlier, in 1998, Ali Partovi was a co-founder of LinkExchange, an internet advertising company, that also got acquired by Microsoft for $265 million. The brothers’ website has a page listing their 34 ongoing investments, which include Airbnb, Classpass, and Uber, and 23 successful exits: Dropbox (IPO), Facebook (IPO), and Zappos (acquired by Amazon), to name just a few. If you scroll down this page, you will also find a list of 10 of their unsuccessful investments, and Partovi is open to say that there had been a few bruises before the brothers developed their investment muscle. “I did invest in a bad idea when I liked the person, but if I look at all my investments, the worst ones were the cases where I liked the idea but I didn’t like the entrepreneur, and also there are investment decisions that I chose not to invest even though I liked the entrepreneur,” he says. “And, I’ve made other mistakes too, such as when one of my college classmates wrote to me in 1998, saying that he had just joined a group of friends from his graduate program to start a company, and he was like, ‘They are the smartest people I know.’ I remember thinking that nobody needs another search engine, and that I wouldn’t invest in this company, that he was just the first employee, and that it was going to be a complete failure. Turned out that the company was Google, and he was their first employee and the Chief Technology Officer. He was also in the top of my class in computer science at Harvard. So, if I could go back and invest in all the best computer scientists I had graduated with, I would have made a lot more money, although I have done well, but I wouldn’t have missed the opportunities like this one.”

A key element of his stressing the importance of the engineering talent is that it was a key factor in how the Partovi brothers came to be where they are today. Born in Tehran, Iran, the twins taught themselves to code on a Commodore 64, which has fueled their passion for programming ever since. The family fled to the US in 1984, following the Iranian Revolution in 1979. Upon earning a master’s degree in computer science from Harvard University, Hadi Partovi rose up the executive ranks at Microsoft, before he went about launching his own startups. And now, he believes that every young person around the world deserves to be propelled forward in life by learning this specific skill. “This is a story about opportunity, and how we can expand who has access to that opportunity, what the jobs of the future will look like, and how we can ensure that everyone gets an opportunity,” Partovi says, on why he advocates computer science training, and why Code.org provides coding curriculum for schools around the country. “In the world of accelerating technological change, the most important thing everybody can learn is how to adapt to new technology. Many schools teach technology, but they teach kids how to use it, whereas we want to teach them how to create technology. And learning to create technology is important, not only because it leads to an opportunity, and not only because of the future of the job market, but because for kids, it’s fun and it teaches them creativity. Creativity is such a natural human desire, something that drives adults, and especially youth, but it doesn’t really exist in the school system.”

Since launching in 2013, Code.org has created the most broadly used curriculum platform for K-12 computer science in the United States. Its computer science classes have reached 30% of American students, while its Hour of Code initiative, a global campaign offering a one-hour introduction to computer science, has reached 10% of students around the world. Furthermore, the Code.org team informs that the nonprofit has more than 100 international partners and supports 63 languages in 180+ countries, with students having created 35 million projects on the platform. Importantly, they also state that 48% of Code.org students are underrepresented minorities. In addition to all of this, Partovi is a firm believer that among the future codingskilled founders tackling the world’s biggest problems, we will see many more women than today. According to a teacher survey by Code.org, 46% of users on the company’s Code.org Studio are female. “There is a misconception that this is for boys not for girls, which is totally not true,” Partovi says. “When girls reach 13 or 14, and if they haven’t tried computer science yet, there are too many other things to do and a pressure to be cool, and that this is not cool for them, because of that social stereotype that this is for boys. So, as a girl, if at 13, you haven’t tried it yet, you have to go against that social stereotype. However, for a boy, the social stereotype is that this is for you, that’s fine. It’s hard to go against the social stereotype for anybody, but it is especially hard for a 13-year-old, when you’ve just started learning how to be secure yourself.” To illustrate, Partovi mentions that Google search results for “software engineers” will mainly show the images of men, whereas the results for “students coding” will show men and women in almost equal numbers.

When it comes to other misconceptions about learning computer science, Partovi mentions the notions people falsely have about its scope and complexity. “I’ve probably made this worse, because of the name of our non-profit, but computer science is more than coding,” he says. “Code.org is about a whole bunch of fields that all are technical, and they are all part of computer science, and I believe that all of them belong in primary and secondary education. Just like you think of science, science has biology and chemistry and physics; you don’t teach just one of them.” Partovi adds, “The other misconception is that this is just for rocket scientists. People imagine that computer science is as hard as calculus, but they don’t realize that six-year-olds can start learning it. If you think about math, first grade math is easy, but 12th grade math could be more difficult, and university math is extra hard. Computer science is the same, the first-grade level of stuff is very easy.”

Code.org founder and CEO Hadi Partovi speaking about the importance of teaching computer science in schools.
Source: Code.org

For all these reasons, Partovi, despite coming across as a quiet man, is ready to make some noise with the recent announcement of the single largest expansion of Code.org’s computer science curriculum. Code.org’s Computer Science (CS) Fundamentals course, geared toward primary school, will be translated into the 10 most widely spoken languages in the non-profit’s database – Chinese (traditional and simplified), French, Italian, Japanese, Korean, Polish, Portuguese, Spanish and Turkish- while it will also offer a new offline version of CS Fundamentals to empower schools in low- and no-bandwidth environments to teach computer science to all students.

Expanding into the MENA region is on Partovi’s agenda too. He says, “There are already 500,000 students and about 20,000 teachers in the Arab world using Codeiorg, despite it, for now, being only in English language and only on internet connected computers, meaning that we haven’t done almost any work to overcome the obstacles in the region, we haven’t properly transitioned into Arabic, we don’t yet support use on disconnected computers, we don’t yet work well on smartphones and tablets. Most of the students are in private schools or international schools, because they are using it in English, but it shows that the interest in what we do is already high.”

Region by region, Partovi hopes to achieve Code.org’s mission of changing the educational system, making computer science a permanent part of school curricula. “The education establishment especially doesn’t recognize that this is a field that is as fundamental as mathematics or science,” Partovi says. “Everybody understands that technology is the future, nobody needs to be explained that, and nobody needs to be explained that there is money in technology, and that it is changing everything. What people don’t realize is that when you start learning the alphabet, you can also simultaneously start learning computer science. Nobody questions why we are teaching math or science, but what they do question is whether they should teach computer science. They are not even asking whether they should also teach computer science.”

Code.org founder and CEO Hadi Partovi teaching students. 
Source: Code.org

However, some of Silicon Valley’s most prominent leaders did not need much persuasion- so far, Code.org has been backed by Amazon, Microsoft, Facebook, the Bill and Melinda Gates Foundation, PricewaterhouseCoopers, Infosys Foundation USA, and many others. Furthermore, Partovi recently helped Pope Francis to write a line of code for an app, during an event organized by the Scholas Occurrentes foundation in Vatican City. “Computer science belongs in primary and secondary schools as a fundamental thing, not just for the students who want to become coders, but for those who want to become lawyers, nurses, farmers, because understanding technology is going to be important,” Partovi concludes. “It’s because building the creativity that computer science teaches will be important, and learning the digital skills that will be required in every career will be important. The biggest obstacle for us is this education administrative mindset. Individual teachers and parents recognize this, but nobody thinks that this should be a part of schools. They want their own child to learn to code, and they don’t think about why schools are not teaching it.”

Reading:

Advertisements
UAE plans $163 billion spend on sustainable energy

UAE plans $163 billion spend on sustainable energy

The UAE will invest Dh600 billion ($163 billion) until 2050 to meet the growing energy demand and ensure the sustainable growth of the economy, said the Dubai Electricity and Water Authority (Dewa) in a new report.

The UAE has taken early steps to bid farewell to the last barrel of oil, and achieve a balance between development and maintaining a clean, healthy, and safe environment. The UAE Energy Strategy 2050 aims to achieve an energy mix that combines renewable and clean energy sources to balance economic requirements and environmental goals.

The Dubai Clean Energy Strategy 2050

Dubai has become an international pioneer in developing the clean and renewable energy sector. It has developed a number of techniques and practices to enhance the efficiency of the energy sector while rationalising consumption and finding alternative solutions to conventional energy. This supports the sustainable development of the Emirate.

The Dubai Clean Energy Strategy 2050, which was launched by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, aims to provide seven per cent of Dubai’s total power output from clean energy by 2020. This target will increase to 25 per cent by 2030 and 75 per cent by 2050. Dubai is the only city in the region to have launched such a promising strategy, with set goals and timelines that map the future of energy until 2050.
The strategy consists of five main pillars: infrastructure, legislation, funding, building capacities and skills, and having an environment-friendly energy mix. The infrastructure pillar includes initiatives such as the Mohammad bin Rashid Al Maktoum Solar Park, which is the largest single-site solar energy project in the world, with a planned total production capacity of 5,000 megawatts (MW) by 2030, and a total investment of Dh50 billion.

Dubai to be the city with the lowest carbon footprint in the world by 2050

“We are working to achieve the ambitious vision of our wise leadership within the framework of federal and local strategies, including the UAE Vision 2021, the UAE Centennial 2071, and Dubai Plan 2021. Our strategies and business plans are inspired by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Rule of Dubai, for the Emirate to be the city with the lowest carbon footprint in the world by 2050,”said Saeed Mohammed Al Tayer MD & CEO of Dewa.

The Mohammed bin Rashid Al Maktoum Solar Park is one of the key projects to achieve this vision. Since its launch, the solar park’s projects see considerable interest from international developers, reflecting the confidence of international investors in the projects that are supported by Dubai Government,” he added.
“We are proud that the solar park, which bears the name of an exceptional personality who is leading the sustainable development of Dubai, was recognised as one of the UAE Pioneers, an achievement that the late Sheikh Zayed bin Zayed Al Nahyan would have been proud of.
“Naming the solar park as one of the UAE pioneers drives us to continue our efforts to achieve the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, which guides us in all our projects and initiatives and achieve the objectives of the Dubai Clean Energy Strategy 2050, which aims to produce 75 per cent of Dubai’s total power output from clean energy by 2050,” Al Tayer concluded.

TradeArabia News Service

More Middle East billionaires during 2018-2023

More Middle East billionaires during 2018-2023

11 per cent growth will be seen in Middle East billionaires during 2018-2023.

Why the number of millionaires is set to rise in UAE

By Waheed Abbas / Dubai

March 7, 2019

The number of millionaires in Dubai and Abu Dhabi will increase from 440 last year to 511 in 2023 and from 192 to 223, respectively.

The number of millionaires in the UAE increased last year and this trend will continue over the next five years as growing investment opportunities will generate more millionaires locally as well as political and economic stability will also woo rich individuals and families from foreign countries, say researchers and analysts.

According to the latest report released by global consultancy Knight Frank, the number of millionaires, or high net worth individuals, in the UAE expanded 3 per cent to 53,798 last year from 52,344 in the previous year. The numbers are projected to grow 14 per cent to 61,292 by 2023. Similarly, the number of ultra-high net worth individuals (UHNWIs) – who own more than $30-million wealth – in the UAE grew from 672 in 2017 to 693 last year and will reach 799 by 2023.

The study predicted that the number of UHNWIs in Dubai and Abu Dhabi will increase from 440 last year to 511 in 2023 and from 192 to 223, respectively.

Issam Kassabieh, senior financial analyst at Menacorp, believes that the ultra-rich will continue to flock to the UAE in coming years.

“At the moment, Dubai is attractive for foreigners. Now, it is a place not just for good investments returns but also to stay for long term. Government is focusing on key sector so that the cash comes in and stays in the country through different measures such as longer visas and ease of doing business initiatives,” Kassabieh said.

“The UAE is an attractive place for foreign investors – financial markets are at an early stage and have a long way to go. Real estate was the first to anchor the economy and that brought foreign investors here. Going forward, the focus will be on more diverse sectors. Also, the ease of doing business chart shows the UAE is first in the region and also competitive globally,” he added.

“Dubai offers a full package – good quality of life, healthcare, education and investment opportunities. All these complement each other and attracts high net worth individuals to this country. In addition to that, diversity of population plays a big role in this,” said Kassabieh.

Knight Frank data revealed that Dubai and Abu Dhabi will witness higher growth in UNHWIs as compared to Manama and Riyadh.

Raju Menon, chairman and managing partner, Kreston Menon, said the number of millionaires will undoubtedly continue growing in the UAE in coming years.

“Whatever the business challenges or revenue decline the companies are facing today, it is temporary. We need to look at long-term of 5 to 10 years. Millionaires should grow here in the UAE because money is available here so the investment avenues will be opened. The UAE’s economy offer big opportunities,” he said.

Menon believes that most of the new millionaires will be homegrown mainly in retail, trading, healthcare, real estate, services and shipping sectors. 

Iyad Abu Hweij, Managing Director of Allied Investment Partners, said the UAE, home to over 9.4 million residents, remains an attractive destination for HNWIs in the region.

With investor and business friendly policies, world class infrastructure and a stable outlook, HNWIs are expected to continue to grow in numbers in the country over the next coming years. Such policies and initiatives have played an important role in bolstering the confidence of investors and attracting Foreign Direct Investments in the UAE, which in turn creates jobs for a highly talented workforce,”  Abu Hweij said

Additionally, the UAE, viewed as a regional startup hub and a digital leader, continues to boast more startups than any other country in the region. Naturally, such startups attract more venture capital and private equity investments locally than anywhere else regionally, he added.

“The UAE continues to provide solid investment opportunities for investors locally and globally, which, along with a rapidly developing financial services sector, has played a catalyst like role for the growth of HNWIs in the country.”

Regional performance

The number of millionaires in the Middle East with wealth below $30 million grew three per cent from 446,384 in 2017 to 459,937 last year. The number is projected to grow 18 per cent to 541,311 by 2023. Similarly, the ultra-high net worth individuals with more than $30m assets grew four per cent year-on-year to 8,301 last year. It’s estimated that the number will grow 20 per cent over the next five years to 9,997.

According to Knight Frank forecast, the number of billionaires in the region will grow from 89 last year to 99 by 2023.

Globally, the number of millionaires with less than $30 million assets are projected to expand from 19.6 million in 2018 to 23.4 million by 2023, an increase of 19 per cent. While ultra rich will increase 22 per cent during 2018 to 2023 from 198,342 to 241,053.

waheedabbas@khaleejtimes.com

$1.5 billion wholesale Dubai Food Park

$1.5 billion wholesale Dubai Food Park

The UAE, after first announcing its intent back in July, has unveiled a $1.5 billion wholesale Dubai Food Park (DFP) to be spread over an area of about 4.5 million m².  And it will be the first destination totally dedicated to serving the food sector in the Middle East. The DFP will feature a central wholesale market and will also provide food safety and inspection together with various other related governmental services. It is  mainly aimed at meeting the demand of the food sector of not only the UAE but of all the Gulf region.
Dubai where up to 80% discounts at its usual summer Big Clearance Sale could be grabbed as per Khaleej Times in not only its streets shops and numerous malls but in Three expansive halls of its World Trade Centre.
We republish this article published on July 12, 2017 by Al Bawaba  for a further spread of Dubai’s entrepreneurial dynamism and enthusiasm. Trade and retail have always been the engine of the UAE’s since its inception but still is tied to its hydrocarbons products exports related revenues. The volatility elements of these are perhaps the underlying factors that are the root cause of not only the future introduction of taxation but also of whipping this retail and wholesale alike in the country.

Dubai Launches $1.5 Billion Food Park in Wholesale City

 

The Dubai Food Park will occupy around 48 million square feet and play a vital role in supporting food security in the UAE. (WAM)

Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has launched the Dh5.5 billion ($1.5 billion) Dubai Food Park to be developed at Dubai Wholesale City.

Sheikh Mohammed attended a briefing by Abdulla Al Habbai, chairman of Dubai Holding, and senior officials from Dubai Holding. The briefing highlighted key features of the park that is positioned as an attractive environment for business operators and investors in the food sector to facilitate access to new markets and global investments.

A first-of-its-kind in the region, the Dubai Food Park will occupy around 48 million square feet and play a vital role in supporting food security in the UAE. It will benefit from Dubai’s world-class infrastructure in land, marine and air transport and establish the emirate’s position as a leading regional hub for food trade and re-export of foodstuffs.

The park will offer all categories of food-related services, including modern infrastructure and ancillary services. Food trade makes up 11 percent of the UAE’s gross domestic product, with estimates for the food industry to grow by 70 percent to Dh23 billion by 2030.

The park will provide a range of government services, including customs, clearance, licensing, food safety and supervision all under one roof. Providing a full suite of services will help boost the growth of food companies and reduce supply chain costs.

Al Habbai said the development projects by Dubai Holding support Dubai’s economic diversification. “The Dubai Food Park has been established to meet the growing demand of the food sector in the UAE and the region, triggered by population growth and development of the tourism sector,” he said.

“There is an increased need for specialised logistical services that ease supply chain costs, as well as for more dedicated spaces to accommodate the fast-growing operations of food companies in Dubai,” he added.

The Dubai Food Park includes a central wholesale market that serves the retail, hospitality and food service sectors, a logistics area, an area for complementary services such as packing, repacking and processing, and a dedicated area for handling packaged goods. It will also host employees’ accommodation, in addition to hotels, financial services, a centre for integrated government services and recycling organic waste.

Dr. Amina Al Rustamani, group CEO of Tecom Group, said the Dubai Food Park is set to bolster Dubai’s status as a regional hub in the food sector.

“These services will reduce paperwork and allow companies to focus on providing quality products at par with global standards, benefiting from 11 million sqft as a free zone for re-export activities. The park will also play a pivotal role in enhancing food security and revitalising the growth of the food sector in the region and the world.”

Abdulla Belhoul, CEO of Dubai Wholesale City, said the park is designed to meet the highest global standards to ensure efficiency of operations and ease of procedures. He said the park will be a model one-stop destination for governmental, administrative and logistical services related to the food sector.

“Through the development of the Dubai Food Park, we seek to provide an advanced infrastructure that meets the current and future needs of this sector.”

Dubai Holding said it is currently in final stages of negotiations with leading international food companies headquartered in Dubai that are seeking further growth and expansion. The aim of these negotiations is to facilitate these companies’ plans to join the Dubai Food Park.

 

Currently, food trade makes up 11% of the UAE’s GDP and the food industry is estimated to grow by 70% to $6.3-B by Y 2030. The sector supports 18,400 blue-collar and 4,600 white collar workers and 2,500 businesses, according to government figures.

It is also hoped to support global food security and foster innovation across the sector.

“DFP has been established to meet the increased need for specialized logistical services to reduce supply chain costs,” said Mr. Belhoul.

“The park will be a one-stop destination for government, administrative and logistical services related to food wholesale, import, export and re-export.”

The wider Dubai Wholesale City is the largest wholesale hub in the world, occupying 550-M sqf that will take shape over a 10-year frame at an estimated cost of $8.2-B.

 

Green Energy in the Arab World

Green Energy in the Arab World

According to Global Risk Insights, the MENA region saw over 2 GW of new solar capacity tendered in 2016, and 2017 looks to easily surpass this level as hundreds of billions of Dollars begin to flow into green energy in the Arab world.
On April 6th, Middle Eastern nations announced an ambitious energy project to establish an Arab Common Market for electricity.
More recently Dubai like everyone in the GCC being increasingly worried about the seemingly definitive loss of the benefits of all pricey oil related revenues are therefore trying to alleviate any potential future losses with investing heavily into the latest renewables.  The Bloomberg’s article goes deeper into this latest move of Dubai’s that could be perceived as a sure sign of the end of billion Dollar grossing hydrocarbons based economy. 

Solar Plants Aim to Keep Lights on at Night

By  Anna Hirtenstein  and Mathew Carr

Solar Plants in Masdar, UAE

July 18, 2017,

Solar plants that supply electricity at competitive prices after the sun goes down are about to become a reality in the Middle East, according to one of the region’s biggest developers of power plants.

ACWA Power International Chief Executive Officer Paddy Padmanathan confirmed his company is the low bidder on a $1 billion project that will feed electricity to the grid for the Dubai Water & Electricity Authority between 4 p.m. and 10 a.m. More such plants are likely to follow because Chinese companies will start driving down the cost of equipment, he said.

The 200-megawatt Dubai contract, which runs for 25 years, will harness a two-decade old technology called concentrated-solar, or solar thermal. Unlike photovoltaics, which generate a charge directly from the sun’s power, thermal plants use mirrors to concentrate heat on water, turning it to steam to drive a turbine. The heat can be stored in molten salt to be used later. The technology to date has slipped behind PV on cost but is quickly becoming more competitive, the executive said.

“I expect concentrated-solar power, within 18 months, to be head to head with combined-cycle gas, if not more competitive,” Padmanathan said in an interview in London. “The focus has been on PV and batteries, but there’s a limit on how long they can hold a charge for. We’re proving that CSP can work through the night.”

Since it can retain heat, the plant can keep working after dark. The sun’s energy in some cases can heat molten salt to 490 degrees Celsius (914 degrees Fahrenheit), which allows operators to predict when electricity will flow.

Uncertain Outlook

While solar thermal plants are becoming cheaper, PV costs are falling too, raising questions whether the Dubai project really will be as attractive as ACWA expects, said Jenny Chase, head of solar analysis at Bloomberg New Energy Finance.

“This plant in Dubai is for delivery by 2021,” Chase said. “By then, we’re expecting solar PV and batteries to be in the same order of magnitude for cost and will be a lot more flexible than a solar thermal plant. Also, a lot of these projects are operating below what they’re meant to, such as the entire Spanish fleet and some in India as well.

There are 319 gigawatts of photovoltaic panels installed worldwide, compared to about 5 gigawatts of solar thermal, according to BNEF data. The mass deployment has driven down costs of solar panel equipment by about 70 percent since 2010, with the latest record set in Abu Dhabi at 2.45 cents per kilowatt-hour. In comparison, solar thermal was around 15 to 18 cents per kilowatt-hour until recently.

China hosts 80 percent of the world’s PV solar manufacturing industry. The nation’s expertise at mass production is credited with making solar panels more affordable, although companies are now reviving work on thermal technology.

More Suppliers

“There are currently just two suppliers in solar CSP,” Padmanathan said. “The others have gone bankrupt. I know of at least five Chinese companies that are starting to enter the market.”

ACWA, which is based in Riyadh, Saudi Arabia, bid 9.45 cents per kilowatt-hour, almost cutting in half the cost of concentrated-solar power. Each of the bidders were also asked to submit an alternative tender. The offtaker will choose between the bid and the alternative bid, so the price may be even lower.

ACWA has also built similar projects in Morocco’s Noor solar complex and South Africa’s desert. One in each nation are operating, with two more in Morocco and one in South Africa currently under development. ACWA is also seeking to build two more projects in Morocco in the Midelt area, which will have a joint capacity of 350 megawatts.

“I’m also hoping to build one in Saudi,” Padmanathan said. “Right now they’re tendering for solar PV and wind, but I think they’ll want a CSP project as well, especially when they see how cost competitive it can be.”

 

$1 billion project of Dubai’s Largest Indoor Theme Park

$1 billion project of Dubai’s Largest Indoor Theme Park

Of all the achievements that Dubai could claim to have realised since or after the formation of the United Arab Emirates, is this semi-loony $1 billion project of Dubai’s Largest Indoor Theme Park that is not really such a loony one.  It may however seem so at first glance but at a closer look, the city has dramatically changed since dredging of what is called its “creek”, that is a finger of the Gulf sea water coming into the desert shore land.  What followed after that is a succession of more and more amazing developments as decidedly helped by the unprecedentedly ginormous inflow of petrodollars and the accompanying expatriates to service them. 
It would be interesting to follow up on the current Qatar crisis as intimated in our Qatar crisis impacts on the rest of the MENA region and its direct effect on such a project.
We feature this article of India Times written by Anjali Bisaria and published on July 8, 2017. 

Dubai’s Largest Indoor Theme Park Costs $1 Billion & Is As Big As 28 American Football Fields

When it comes to building the world’s ‘firsts’ buildings, hotels, or artificial islands, trust Dubai to be ahead of the game, all the damn time!

For Dubai is now home to the globe’s first largest indoor theme park – IMG Worlds of Adventure. Sprawled across 1.5 million square feet with a capacity to hold 30,000 visitors at a time, the $1 billion theme park threw open its doors on August 31, 2016, reports The Independent.  

IMG WORLDS OF ADVENTURE

The size of the theme park equals 28 American football fields which also houses a 12-screen cinema complex with IMAX screen. Its opulence is Dubai’s yet another promise of becoming the country’s entertainment capital.

And by 2019, IMG Worlds of Adventures is expected to see a rise in its revenues by 78% to $837 million!

IMG WORLDS OF ADVENTURE

The park is divided into four zones – MARVEL, Cartoon Network, Lost Valley – Dinosaur Adventure, and IMG Boulevard. There are 22 rides and attractions including the Velociraptor roller-coaster that speeds up to 100 km/h in 2.5 seconds.

IMG WORLDS OF ADVENTURE

IMG WORLDS OF ADVENTURE

Apart from this, visitors can check out 25 shops and 28 restaurants and bars with prices soaring through the sky. Imagine buying a pen worth 115,000 dirhams, i.e., $31,300!

A land that also sees soaring temperatures, this indoor theme park is both a respite and a delight.

 ANJALI BISARIA

JULY 08, 2017