Bubble Land Series: 2024-2025 by Naeemeh Kazemi can be seen at Leila Heller Gallery in Dubai. Photo: Alserkal Avenue
Bubble Land Series: 2024-2025 by Naeemeh Kazemi can be seen at Leila Heller Gallery in Dubai. Photo: Alserkal Avenue
Bubble Land Series: 2024-2025 by Naeemeh Kazemi can be seen at Leila Heller Gallery in Dubai. Photo: Alserkal Avenue
Bubble Land Series: 2024-2025 by Naeemeh Kazemi can be seen at Leila Heller Gallery in Dubai. Photo: Alserkal Avenue

What to see at Alserkal Art Week in April, from exhibitions to public discussions


Saeed Saeed
  • English
  • Arabic

Dubai’s arts district, Alserkal Avenue, has announced a week-long programme of exhibitions and public discussions in April.

Alserkal Art Week will run from April 13 to 20 under the theme A Wild Stitch. The programme “gathers voices challenging the single grand narrative, carefully threading space for multiplicity, hybridity and alternative perspectives that refuse to be neatly stitched into place”.

Among the highlights is Vanishing Points, a mixed-media exhibition inspired by South Asian cityscapes, at Concrete. The show will include photography, video, painting, and a site-specific installation. Works by Emirati artist Nujoom Al Ghanem and Indian artist Shilpa Gupta will be displayed throughout Alserkal Avenue. Curated by writer Fatos Ustek, Al Ghanem’s photography explores the connection between identity and the surrounding physical landscape, while Gupta’s sculptures take inspiration from the desert and the sea.

A diverse selection of regional and international galleries will present exhibitions centred on themes of displacement, resilience, and identity. I Am Soil. My Tears Are Water, a solo exhibition by Cuban artist Magdalena Campos-Pons at Efie Gallery, is a reflection on ancestral memory shaped by colonial histories across Latin America, Africa, and the Middle East. Meanwhile, Iraqi-Palestinian artist Sama Alshaibi will present a photographic series capturing Baghdad’s shifting landscapes at Ayyam Gallery.

Alserkal Art week will run from April 13 to 20 in Alserkal Avenue, Dubai. Photo: Alserkal Avenue
Alserkal Art week will run from April 13 to 20 in Alserkal Avenue, Dubai. Photo: Alserkal Avenue

Leila Heller Gallery is staging Iranian artist Reza Derakshani’s first solo exhibition in five years. I Paint Your Grace, I Paint Your Pain, I Paint Your Love is a meditation on memory and personal transformation. The programme also includes Majlis Talks, a series of public discussions in which participants will debate “unrealistic questions and impossible positions” within the UAE’s arts scene.

Alserkal Avenue will also host the Hong Kong Film Festival, from Saturday until March 28 at Cinema Akil. Presented by the Asian Film Awards Academy, the festival screens a selection of films spanning romantic fantasy, classic cinema and action genres. This year’s programme features newly released titles alongside timeless classics of Hong Kong cinema.

Among the films showing is An Abandoned Team, starring Lawrence Cheng, Amy Lo and Jay Fung, and Montages of a Modern Motherhood, starring Hedwig Tam, Patra Au and Chun Yip Lo. In the classics slot is 1993's The Bride with White Hair, a beloved film in the wuxia (adventures of martial artists) genre, the film follows a young man who is set to succeed to his clan’s throne, as he battles the powers of evil while falling in love with a female warrior.

French business

France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.

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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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