Art from the Middle East experienced unprecedented growth this year. Proof of this is auction houses Sotheby’s and Christie’s dedicating several exhibitions and sales to Arab artists, spanning decades and a variety of mediums.
Some of the most expensive works were sold by Christie’s at its Modern and Contemporary Middle Eastern Art auction in October, which included highlights from the Dalloul Collection, regarded as one of the most significant assortments of Arab art in the world. One work from the sale, by modern Egyptian painter Mahmoud Said, which had an estimated price of $470,000, fetched more than $1 million.
At a Sotheby’s sale in April, which paid tribute to Beirut, a painting by Lebanese modernist artist Aref El Rayess sold for more than $500,000. Here are the five most expensive sales of the year.
5. The Desert by Aref El Rayess ($487,620)
Considered one of the most important Lebanese modernist artists whose works span five decades and multiple mediums including painting, sculpture and illustration, El Rayess’s The Desert sold in October by Christie's.
The work, created in 1988, was part of El Rayess’s celebrated desert series, which he made after leaving Lebanon for Saudi Arabia due to the civil war. While this work and the series touch on themes of loneliness and isolation, reflecting El Rayess’ feelings after leaving his homeland, he also captured the essence and beauty of the desert landscape.
His stylisation of the dune and the clouds in combination with the soft yet vibrant colours not only portrays the changing light of the landscape, but he skilfully depicts its beauty, vastness and even a spiritual dimension of the desert.
4. Head by Marwan ($491,400)
This reported self-portrait of the celebrated Syrian artist Marwan Kassab-Bachi, known simply as Marwan, was painted in 1973 and sold by Christie’s at a record price for the artist as part of the Modern and Contemporary Middle Eastern Art sale.
Belonging to a series from the 1970s, this large-scale, vertical painting depicts a stylised face emerging from the left side of the frame gazing serenely at the viewer. The features are depicted through a bold array of colours and expressive but sensual gestures.
This work and the series it belongs to is considered an important one in the artist’s oeuvre. It acts as a bridge from his earlier works of surrealism and figuration, where viewers see one of his first experimentations of using a particularly complex technique of morphing faces into images of landscapes and eventually, later in his career, focusing on abstraction.
3. A World of Petrol by Aref El Rayess ($565,694)
This is a highly symbolic and political piece by El Rayess and was sold by Sotheby’s. The work was part of A Love Letter to Beirut: Arts and Culture, 1960s to 2020s, an exhibition and auction that showcased Lebanon’s cultural heritage and its influence on Arab artists.
Combining symbolism, expressive realism and leaning towards abstraction, El Rayess explores the impact of petroleum on Arab countries. He depicts both the prosperity and destruction brought by the oil industry, through various symbols and images. In the work, El Rayess incorporates folkloric and mystic motifs where influences from his time living in Senegal are referenced in the African-inspired masks as well as his use of geometric shapes and tribal colour palettes.
In the foreground, a body of liquid, reminiscent of petrol, flows across the lower section of the painting, with an outstretched red arm holding a fire torch in the foreground. There are many dual meanings the viewer can extrapolate from these images, including hope and liberation as well as control and power. This work is particularly significant as it was displayed at the 1974 Baghdad Arab Art Biennale, the first Arab Art Biennale, and the first in the Iraqi capital.
2. Bi nur al-iman, nara al-s'adah by Mohammed Al Saleem ($819,000)
This work by the pioneering Saudi artist was painted in 1990 at a pivotal moment during his career. It was also sold by Christie's in October as part of the contemporary sale.
Al Saleem is credited as one of the founders of Saudi Arabia’s modern art scene, with his work fusing abstract and figurative techniques while bridging the gap between contemporary visual dialogue within traditional and heritage motifs.
The English translation of this work is "In the Light of Faith, We See Happiness", which suggests an exploration of themes that include spiritual enlightenment and joy derived from religious beliefs. Al Saleem reinterprets the Saudi landscape, stylising the horizon of the desert and replacing it with Arabic calligraphy.
The painting also exemplifies Al Saleem’s style which he called Horizonism. Through this style, Al Saleem gave the Saudi landscape a meditative quality while experimenting with calligraphic elements and creating a visual language that fuses tradition and modernity.
1. Vue de la plage a Cassata en Grece by Mahmoud Said ($1.09 million)
Egyptian artist Mahmoud Said painted this in 1964, months before his death aged 67. It was also part of Christie’s Modern and Contemporary Middle Eastern Art sale and is the most expensive sold at auction by an Arab artist this year. It is widely considered to be his masterpiece.
Said combined his influence and appreciation of the techniques of the Old Master Paintings of Europe with his use of light influenced by Egypt as well as other Mediterranean countries he often visited, such as Lebanon and Greece. The English translation, "View of the beach in Cassata in Greece", indicates as such.
This unique combination of melding influences and styles offered Said the freedom to create his own artistic language, which was characterised by his use and mastery of composition, colour and light. These three elements are very much present in this work.
It blends western artistic techniques with his Egyptian sensibility, producing a simplified scene with a decorative composition that is rich in colours and light.
TECH%20SPECS%3A%20APPLE%20WATCH%20SERIES%208
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OPINIONS ON PALESTINE & ISRAEL
Another way to earn air miles
In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.
An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.
“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.
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.”
WISH
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The specs: 2018 Genesis G70
Price, base / as tested: Dh155,000 / Dh205,000
Engine: 3.3-litre, turbocharged V6
Gearbox: Eight-speed automatic
Power: 370hp @ 6,000rpm
Torque: 510Nm @ 1,300rpm
Fuel economy, combined: 10.6L / 100km
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Essentials
The flights
Emirates, Etihad and Malaysia Airlines all fly direct from the UAE to Kuala Lumpur and on to Penang from about Dh2,300 return, including taxes.
Where to stay
In Kuala Lumpur, Element is a recently opened, futuristic hotel high up in a Norman Foster-designed skyscraper. Rooms cost from Dh400 per night, including taxes. Hotel Stripes, also in KL, is a great value design hotel, with an infinity rooftop pool. Rooms cost from Dh310, including taxes.
In Penang, Ren i Tang is a boutique b&b in what was once an ancient Chinese Medicine Hall in the centre of Little India. Rooms cost from Dh220, including taxes.
23 Love Lane in Penang is a luxury boutique heritage hotel in a converted mansion, with private tropical gardens. Rooms cost from Dh400, including taxes.
In Langkawi, Temple Tree is a unique architectural villa hotel consisting of antique houses from all across Malaysia. Rooms cost from Dh350, including taxes.
The specs
Price, base / as tested Dh12 million
Engine 8.0-litre quad-turbo, W16
Gearbox seven-speed dual clutch auto
Power 1479 @ 6,700rpm
Torque 1600Nm @ 2,000rpm 0-100kph: 2.6 seconds 0-200kph: 6.1 seconds
Top speed 420 kph (governed)
Fuel economy, combined 35.2L / 100km (est)
UAE currency: the story behind the money in your pockets
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Credits
Produced by: Colour Yellow Productions and Eros Now
Director: Mudassar Aziz
Cast: Sonakshi Sinha, Jimmy Sheirgill, Jassi Gill, Piyush Mishra, Diana Penty, Aparshakti Khurrana
Star rating: 2.5/5
Two products to make at home
Toilet cleaner
1 cup baking soda
1 cup castile soap
10-20 drops of lemon essential oil (or another oil of your choice)
Method:
1. Mix the baking soda and castile soap until you get a nice consistency.
2. Add the essential oil to the mix.
Air Freshener
100ml water
5 drops of the essential oil of your choice (note: lavender is a nice one for this)
Method:
1. Add water and oil to spray bottle to store.
2. Shake well before use.