Sales moved fast at this year’s Art Dubai, with works traded during the VIP preview on Tuesday and others gone by the second day of the fair.
Private foundation and collectors – many from Dubai – made the bulk of the purchases, with some major international collectors coming into the UAE despite an exceptionally busy art calendar over the past month.
A large sale within hours of the preview opening was the El Anatsui wall-based The Bend in the River (2022), which Dubai's Efie Gallery sold for $600,000 to a collector also in the emirate.
El Anatsui, a Ghanaian artist who lives in Nigeria, currently has the Turbine Hall commission at Tate Modern, for which he has suspended his signature bottle-cap curtains from the ceiling of the museum, cloaking the institutions in emblems of trade. Regionally, he also has a monumental maze-work in the Diriyah Biennale in Riyadh.
Efie itself is a relative newcomer to the Dubai scene, with a focus on works from Africa (the founders are from Ghana). Among other sales was an editioned print from the Ethiopian artist Aida Muluneh for $7,500 to a collector in Ghana.
Many Dubai gallerists were also all smiles by the second day of the fair.
Green Art Gallery, in Alserkal Avenue, sold both their works by Afra Al Dhaheri, in the range of $9,000. The wall-mounted sculptures are part of the artist’s series focusing on the structure of a painting’s canvas, which the Abu Dhabi artist has been experimenting with over the past year.
Al Dhaheri is head of sculpture at Zayed University and part of a young generation of UAE artists taking up leadership positions in the art world. The gallery also sold their works by the elder French-Lebanese artist Chaouki Choukini, who will be in the curated show of the Venice Biennale this year.
Green Art’s neighbour, The Third Line, sold out their works by Sara Naim, in the range of $8,000 to $10,000. Like Al Dhaheri, Naim is well-known to the art world in the emirates, recently transforming excerpts of photographs into odd and welcoming curvaceous sculptures.
And Tabari Artspace, an established DIFC gallery that formerly concentrated on Arab masters, has seen their new embrace of younger artists pay off. They dedicated their booth to seven young female artists from the Middle East, selling three large-scale paintings by Lebanese artist Tagreed Darghouth at $35,000 each, as well as mosaic works by Chafa Ghaddar (a new medium for the artist, who is best known for her modernised al fresco techniques) and a neon work by Palestinian artist Aya Haider.
Lawrie Shabibi sold their work by Shaikha Al Mazrou, a pillow-like fibreglass sculpture, within the VIP preview. The works by the NYUAD professor are highly sought after (one is also in the Dubai Collection exhibition at the fair) and the angular blue sculpture went in the range of $30,000 to $50,000 to a prominent UAE collection, as did a work by Peruvian artist Ishmael Randall Weeks. The Dubai gallery also sold a work by Mandy El-Sayegh, a new recruit to the gallery, for $60,000. She recently has her first Dubai solo show in their Alserkal Avenue space.
Visiting gallerists also did well. The Moroccan gallery Comptoir des Mines made several sales, with Fatiha Zemmouri’s Tay Al Ard (2022) selling to a Lebanese collector for $60,000 – a good price for the elder artist, who works with earthen material. A suite of her works was one of the great surprises of last year’s Islamic Arts Biennale in Jeddah. Comptoir des Mines had a strong showing all around; they also sold works by Moroccan artists Sara Ouhaddou, Mustapha Akram, and Khadija Jayi at the preview, with prices ranging from $18,000 to $44,000.
Almine Rech, the well-known London gallery, sold a work by Umar Rashid for a range of $20,000 to $30,000 and one by French artist Thu-Van Tran for between $30,000 to $45,000.
The curated modern section this year explored relationships between Soviet socialist republics and artists from the Global South – an interesting research subject that did not translate fully into the more scattered format of an art fair.
Here the best booth was that of Meem Gallery, which played to its traditional strengths of Iraq modern art with a twin booth of paintings – by Dia Al Azzawi, Marwan, and others – and an archival and drawing section, notably including a suite of Baghdadiyat drawings by Jewad Selim, priced each at $6,000. Meem reported sales across both booths, from Azzawi, young Iraqi artist Adel Abidin, Kurdish artist Walid Siti and half-Danish, half-Syrian artist Zhivago Duncan, as well as institutional interest in the major paintings.
In Art Dubai Digital, the mood was light – literally. The fair changed the layout to open up the room towards the sea-facing windows, and the booths felt both buzzy and more established, with more physical objects on show and a youthful atmosphere as people were encouraged to interact with works.
Phygital or not, things moved. Within minutes of the opening, the Morrow collective, a Dubai organisation that just celebrated its 10th anniversary, sold out their Brian Brinkman edition for a total of 5ETH (Ethereum), which is about $17,000.
Unit London, a star of last year’s Digital section, sold Krista Kim’s 1005 v1 at the preview for 12.5ETH (about $42,600) – a figure that puts the Digital works up there with the higher end of the contemporary galleries’ offerings, and proves again that the section has been a good bet for the fair.
Results
4pm: Maiden (Dirt) Dh165,000 1,600m
Winner: Moshaher, Pat Dobbs (jockey), Doug Watson (trainer).
4.35pm: Handicap (D) Dh165,000 2,200m
Winner: Heraldic, Richard Mullen, Satish Seemar.
5.10pm: Maiden (Turf) Dh165,000 1,600m
Winner: Rua Augusta, Harry Bentley, Ahmad bin Harmash.
5.45pm: Handicap (D) Dh190,000 1,200m
Winner: Private’s Cove, Mickael Barzalona, Sandeep Jadhav.
6.20pm: Handicap (T) Dh190,000 1,600m
Winner: Azmaam, Jim Crowley, Musabah Al Muhairi.
6.55pm: Handicap (D) Dh190,000 1,400m
Winner: Bochart, Richard Mullen, Satish Seemar.
7.30pm: Handicap (T) Dh190,000 2,000m
Winner: Rio Tigre, Mickael Barzalona, Sandeep Jadhav.
Know before you go
- Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
- If you’re driving, make sure your insurance covers Oman.
- By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
- Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
- Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.
SPEC%20SHEET
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Company profile
Name: Fruitful Day
Founders: Marie-Christine Luijckx, Lyla Dalal AlRawi, Lindsey Fournie
Based: Dubai, UAE
Founded: 2015
Number of employees: 30
Sector: F&B
Funding so far: Dh3 million
Future funding plans: None at present
Future markets: Saudi Arabia, potentially Kuwait and other GCC countries
if you go
The flights
Air France offer flights from Dubai and Abu Dhabi to Cayenne, connecting in Paris from Dh7,300.
The tour
Cox & Kings (coxandkings.com) has a 14-night Hidden Guianas tour of Guyana, Suriname and French Guiana. It includes accommodation, domestic flights, transfers, a local tour manager and guided sightseeing. Contact for price.
Two-step truce
The UN-brokered ceasefire deal for Hodeidah will be implemented in two stages, with the first to be completed before the New Year begins, according to the Arab Coalition supporting the Yemeni government.
By midnight on December 31, the Houthi rebels will have to withdraw from the ports of Hodeidah, Ras Issa and Al Saqef, coalition officials told The National.
The second stage will be the complete withdrawal of all pro-government forces and rebels from Hodeidah city, to be completed by midnight on January 7.
The process is to be overseen by a Redeployment Co-ordination Committee (RCC) comprising UN monitors and representatives of the government and the rebels.
The agreement also calls the deployment of UN-supervised neutral forces in the city and the establishment of humanitarian corridors to ensure distribution of aid across the country.
Our legal advisor
Rasmi Ragy is a senior counsel at Charles Russell Speechlys, a law firm headquartered in London with offices in Europe, the Middle East and Hong Kong.
Experience: Prosecutor in Egypt with more than 40 years experience across the GCC.
Education: Ain Shams University, Egypt, in 1978.
Martin Sabbagh profile
Job: CEO JCDecaux Middle East
In the role: Since January 2015
Lives: In the UAE
Background: M&A, investment banking
Studied: Corporate finance
MATCH INFO
Watford 2 (Sarr 50', Deeney 54' pen)
Manchester United 0
INDIA SQUAD
Virat Kohli (capt), Rohit Sharma, Shikhar Dhawan, KL Rahul, Vijay Shankar, MS Dhoni (wk), Kedar Jadhav, Dinesh Karthik, Yuzvendra Chahal, Kuldeep Yadav, Bhuvneshwar Kumar, Jasprit Bumrah, Hardik Pandya, Ravindra Jadeja, Mohammed Shami
MATCH INFO
CAF Champions League semi-finals first-leg fixtures
Tuesday:
Primeiro Agosto (ANG) v Esperance (TUN) (8pm UAE)
Al Ahly (EGY) v Entente Setif (ALG) (11PM)
Second legs:
October 23
The biog
Mission to Seafarers is one of the largest port-based welfare operators in the world.
It provided services to around 200 ports across 50 countries.
They also provide port chaplains to help them deliver professional welfare services.
The specs: 2018 Maserati Ghibli
Price, base / as tested: Dh269,000 / Dh369,000
Engine: 3.0-litre twin-turbocharged V6
Transmission: Eight-speed automatic
Power: 355hp @ 5,500rpm
Torque: 500Nm @ 4,500rpm
Fuel economy, combined: 8.9L / 100km
THE DRAFT
The final phase of player recruitment for the T10 League has taken place, with UAE and Indian players being drafted to each of the eight teams.
Bengal Tigers
UAE players: Chirag Suri, Mohammed Usman
Indian: Zaheer Khan
Karachians
UAE players: Ahmed Raza, Ghulam Shabber
Indian: Pravin Tambe
Kerala Kings
UAE players: Mohammed Naveed, Abdul Shakoor
Indian: RS Sodhi
Maratha Arabians
UAE players: Zahoor Khan, Amir Hayat
Indian: S Badrinath
Northern Warriors
UAE players: Imran Haider, Rahul Bhatia
Indian: Amitoze Singh
Pakhtoons
UAE players: Hafiz Kaleem, Sheer Walli
Indian: RP Singh
Punjabi Legends
UAE players: Shaiman Anwar, Sandy Singh
Indian: Praveen Kumar
Rajputs
UAE players: Rohan Mustafa, Ashfaq Ahmed
Indian: Munaf Patel
Golden Shoe top five (as of March 1):
Harry Kane, Tottenham, Premier League, 24 goals, 48 points
Edinson Cavani, PSG, Ligue 1, 24 goals, 48 points
Ciro Immobile, Lazio, Serie A, 23 goals, 46 points
Mohamed Salah, Liverpool, Premier League, 23 goals, 46 points
Lionel Messi, Barcelona, La Liga, 22 goals, 44 points
Dhadak
Director: Shashank Khaitan
Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana
Stars: 3
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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Match info
Uefa Champions League Group F
Manchester City v Hoffenheim, midnight (Wednesday, UAE)
PROFILE OF SWVL
Started: April 2017
Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh
Based: Cairo, Egypt
Sector: transport
Size: 450 employees
Investment: approximately $80 million
Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
RESULTS
1.45pm: Maiden Dh75,000 1,200m
Winner: Lady Parma, Richard Mullen (jockey), Satish Seemar (trainer).
2.15pm: Maiden Dh75,000 1,200m
Winner: Tabernas, Connor Beasley, Ahmed bin Harmash.
2.45pm: Handicap Dh95,000 1,200m
Winner: Night Castle, Connor Beasley, Satish Seemar.
3.15pm: Handicap Dh120,000 1,400m
Winner: Mystique Moon, Sam Hitchcott, Doug Watson.
3.45pm: Handicap Dh80,000 1,400m
Winner: Mutawakked, Szczepan Mazur, Musabah Al Muhairi.
4.15pm: Handicap Dh90,000 1,800m
Winner: Tafaakhor, Sandro Paiva, Ali Rashid Al Raihe.
4.45pm: Handicap Dh80,000 1,950m
Winner: Cranesbill, Fabrice Veron, Erwan Charpy.
Countries recognising Palestine
France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra
More from Neighbourhood Watch:
The bio
Job: Coder, website designer and chief executive, Trinet solutions
School: Year 8 pupil at Elite English School in Abu Hail, Deira
Role Models: Mark Zuckerberg and Elon Musk
Dream City: San Francisco
Hometown: Dubai
City of birth: Thiruvilla, Kerala
MATCH INFO
Liverpool v Manchester City, Sunday, 8.30pm UAE
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Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now