Joumana Asseily is founder of gallery Marfa Projects. The project space was heavily destroyed by the Beirut blast. Marfa Projects
Joumana Asseily is founder of gallery Marfa Projects. The project space was heavily destroyed by the Beirut blast. Marfa Projects
Joumana Asseily is founder of gallery Marfa Projects. The project space was heavily destroyed by the Beirut blast. Marfa Projects
Joumana Asseily is founder of gallery Marfa Projects. The project space was heavily destroyed by the Beirut blast. Marfa Projects

Gallerist Joumana Asseily says she's 'living day by day' one year after Beirut explosion


Lemma Shehadi
  • English
  • Arabic

“The support we got from the international art scene helped us continue,” says Joumana Asseily, founder of Marfa Projects, a gallery and project space nestled between customs offices in the Beirut port area.

Listen to the latest podcast on the Beirut blast here

The gallery represents some of the city's leading artists, but it was completely demolished by the August 4 blast. Thankfully for Asseily and her team, the space was closed on that deadly afternoon, because of the pandemic. “I went in the next day to check on our neighbours. There was this abnormal heat. I felt like I was in a movie,” she recalls.

A year on, she is still coming to terms with the damage. “I have this huge incomprehension for what has happened, which turns to rage. I can’t stop thinking of the people who lost their lives, their homes, their jobs or parts of their bodies.”

An image of the destruction at Marfa Projects after the August 4 blast. Courtesy of Marfa Projects
An image of the destruction at Marfa Projects after the August 4 blast. Courtesy of Marfa Projects

But closing down or relocating was not an option. “I knew I wanted to be back in the port and to continue what I’d started with Marfa,” says Asseily, who spent weeks clearing debris from the space. “It took months to find the right moment to restart. It helped that the entire art world had closed, too, because of the pandemic.”

Rebuilding under Lebanon’s economic crisis has presented enormous challenges for this independent gallery. “We had no support from the government or local bodies." She says restrictions on movement and the value of the Lebanese currency also delayed their efforts. "Prices were fluctuating all the time, and we had to buy all our equipment from scratch."

The country can’t breathe without its cultural outlets
Joumana Asseily,
founder of Marfa Projects

Then, other galleries overseas reached out to support. Wrong Marfa, a gallery in Texas (not related), donated 10 per cent of proceeds from one of its sales to help rebuild the space. “I used the money to support the artists,” says Asseily. In January, a group of 20 international galleries invited Marfa to be part of a collective exhibition project. “I was so touched that they invited me – I was among the youngest gallerists there.”

This prompted the gallery to reopen in May, with the group exhibition Water, which was part of the committee’s Galleries Curate: RHE joint programme of exhibitions. Among the works in the show was Vartan Avakian's Short Wave, Long Wave, a 2010 film about the Beirut port, which was presented in an underground parking space adjacent to the gallery.

Vartan Atakian’s 'Short Wave, Long Wave', a 2010 film about the Beirut port, which was presented in an underground parking space. Courtesy of Marfa Projects
Vartan Atakian’s 'Short Wave, Long Wave', a 2010 film about the Beirut port, which was presented in an underground parking space. Courtesy of Marfa Projects

What moved Asseily most was the reaction from locals to Marfa’s reopening. “One visitor, a collector, told me that she felt alive again,” she says. “The people working in the customs offices around us came and encouraged us. They wanted us to bring the area back to life. We also got support from the bakery around the corner.”

These experiences, Asseily says, allow her to hold on to her dream of running this port venue. “It was so heartwarming; it made me want to continue.”

Today, her venture faces new challenges linked to Lebanon’s economic and political crisis. The gallery was forced to close during Eid Al Adha, owing to electricity shortages. “We’re living day by day,” she says.

Asseily is also struggling to support her artists. “For artists, the biggest challenge today is finding production material. Also, with the fuel crisis, they can’t travel far.”

Nonetheless, the gallery plans to still take part in the international art fairs circuit. Asseily is currently preparing for a solo presentation of new work by Avakian for Art Basel, as well as participations for Frieze London and Fiac, the contemporary art fair held in Paris. In October, she will launch a solo show at Marfa Projects for Stephanie Saade, an artist who left Beirut after the blast.

Asseily insists she will stay in the city. “Unless there’s no internet and we’re cut out from the world, I won’t be leaving Beirut. The country can’t breathe without its cultural outlets. If this dies, then what’s left?”

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Date started: 2015

Founder: John Tsioris and Ioanna Angelidaki

Based: Dubai

Sector: Online grocery delivery

Staff: 200

Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends

The specs: 2018 Audi RS5

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UAE currency: the story behind the money in your pockets
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Price, base: Dh5.1 million

Engine: 3.8-litre twin-turbo flat-six

Transmission: Seven-speed automatic

Power: 800hp @ 7,100pm

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Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

Our Time Has Come
Alyssa Ayres, Oxford University Press

Ms Yang's top tips for parents new to the UAE
  1. Join parent networks
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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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Like a Fading Shadow

Antonio Muñoz Molina

Translated from the Spanish by Camilo A. Ramirez

Tuskar Rock Press (pp. 310)

Updated: March 28, 2023, 1:32 PM