Sheikh Khaled bin Mohamed meets famed architect Frank Gehry at Guggenheim Abu Dhabi site


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Frank Gehry – the architect behind the Guggenheim Museum in Bilbao and the Louis Vuitton Foundation in Paris – met key Abu Dhabi officials at the Guggenheim Abu Dhabi museum site on Saadiyat Island.

Gehry was welcomed by Sheikh Khaled bin Mohamed bin Zayed, member of Abu Dhabi Executive Council and chairman of the Abu Dhabi Executive Office, and Mohamed Khalifa Al Mubarak, chairman of the Department of Culture and Tourism – Abu Dhabi.

Sheikh Khaled bin Mohamed bin Zayed, second from left, architect Frank Gehry, second from right, and senior officials of DCT – Abu Dhabi and the Solomon R Guggenheim Foundation, at the Guggenheim Abu Dhabi museum site on Saadiyat Island. Photo: Abu Dhabi Media Office
Sheikh Khaled bin Mohamed bin Zayed, second from left, architect Frank Gehry, second from right, and senior officials of DCT – Abu Dhabi and the Solomon R Guggenheim Foundation, at the Guggenheim Abu Dhabi museum site on Saadiyat Island. Photo: Abu Dhabi Media Office

Also in attendance were William Mack and Wendy Fisher, chairman and president of the board of trustees of the Solomon R Guggenheim Foundation.

During the visit, Sheikh Khaled discussed the progress of the Guggenheim Abu Dhabi and reiterated the project’s goals of cultivating cultural exchange and transforming Abu Dhabi into a hub for culture and creativity.

The museum, designed by Gehry, was initially announced in 2006. Though its opening has faced delays along the way, the institution has been working on building its collection and, over the last year, has put together various virtual programmes.

Gehry’s design responds to the museum’s unique seafront location, with its three sides flanked by the Arabian Gulf. The building is planned at 30,000 square metres, which will be the largest facility for the Solomon R Guggenheim Foundation once completed. The gallery space will measure about 12,000 square metres.

Inspired by Middle Eastern design, including courtyards and wind towers, the various galleries will be linked by bridges around a central courtyard. Gehry has also envisioned various spaces for exhibition galleries, an education and research space, a conservation laboratory, a cultural centre and one for art and technology.

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Frank Gehry's impressive structures

  • The Dancing House, also called 'Fred and Ginger', by architects Vlado Milunic and Frank Gehry, in Prague, Czech Republic. All Photos: Alamy Stock Photo
    The Dancing House, also called 'Fred and Ginger', by architects Vlado Milunic and Frank Gehry, in Prague, Czech Republic. All Photos: Alamy Stock Photo
  • Frank Gehry's Cleveland Clinic Lou Ruvo Centre for Brain Health, in Las Vegas, Nevada, USA
    Frank Gehry's Cleveland Clinic Lou Ruvo Centre for Brain Health, in Las Vegas, Nevada, USA
  • Hotel Marques de Riscal, designed by architects Frank Owen and Frank Gehry, in Elciego, Alava, Basque Country, Spain
    Hotel Marques de Riscal, designed by architects Frank Owen and Frank Gehry, in Elciego, Alava, Basque Country, Spain
  • Louis Vuitton Foundation art museum and cultural centre, designed by Frank Gehry, in Paris, France
    Louis Vuitton Foundation art museum and cultural centre, designed by Frank Gehry, in Paris, France
  • Guggenheim Museum in Bilbao, Basque Country, Spain
    Guggenheim Museum in Bilbao, Basque Country, Spain
  • Walt Disney Concert Hall in Los Angeles, California
    Walt Disney Concert Hall in Los Angeles, California
  • Sculpture Peix D'or, Hotel Arts Barcelona, Mapfre Tower, in Barcelona, Spain
    Sculpture Peix D'or, Hotel Arts Barcelona, Mapfre Tower, in Barcelona, Spain
If you go

The flights

There are direct flights from Dubai to Sofia with FlyDubai (www.flydubai.com) and Wizz Air (www.wizzair.com), from Dh1,164 and Dh822 return including taxes, respectively.

The trip

Plovdiv is 150km from Sofia, with an hourly bus service taking around 2 hours and costing $16 (Dh58). The Rhodopes can be reached from Sofia in between 2-4hours.

The trip was organised by Bulguides (www.bulguides.com), which organises guided trips throughout Bulgaria. Guiding, accommodation, food and transfers from Plovdiv to the mountains and back costs around 170 USD for a four-day, three-night trip.

 

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

RESULT

Shabab Al Ahli Dubai 0 Al Ain 6
Al Ain: Caio (5', 73'), El Shahat (10'), Berg (65'), Khalil (83'), Al Ahbabi (90' 2)

Mubalada World Tennis Championship 2018 schedule

Thursday December 27

Men's quarter-finals

Kevin Anderson v Hyeon Chung 4pm

Dominic Thiem v Karen Khachanov 6pm

Women's exhibition

Serena Williams v Venus Williams 8pm

Friday December 28

5th place play-off 3pm

Men's semi-finals

Rafael Nadal v Anderson/Chung 5pm

Novak Djokovic v Thiem/Khachanov 7pm

Saturday December 29

3rd place play-off 5pm

Men's final 7pm

LAST-16 EUROPA LEAGUE FIXTURES

Wednesday (Kick-offs UAE)

FC Copenhagen (0) v Istanbul Basaksehir (1) 8.55pm

Shakhtar Donetsk (2) v Wolfsburg (1) 8.55pm

Inter Milan v Getafe (one leg only) 11pm

Manchester United (5) v LASK (0) 11pm 

Thursday

Bayer Leverkusen (3) v Rangers (1) 8.55pm

Sevilla v Roma  (one leg only)  8.55pm

FC Basel (3) v Eintracht Frankfurt (0) 11pm 

Wolves (1) Olympiakos (1) 11pm 

MATCH INFO

Schalke 0

Werder Bremen 1 (Bittencourt 32')

Man of the match Leonardo Bittencourt (Werder Bremen)

WHAT ARE NFTs?

     

 

    

 

   

 

Non-fungible tokens (NFTs) are tokens that represent ownership of unique items. They allow the tokenisation of things such as art, collectibles and even real estate.

 

An NFT can have only one official owner at one time. And since they're minted and secured on the Ethereum blockchain, no one can modify the record of ownership, not even copy-paste it into a new one.

 

This means NFTs are not interchangeable and cannot be exchanged with other items. In contrast, fungible items, such as fiat currencies, can be exchanged because their value defines them rather than their unique properties.

 

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.”

MATCH INFO

Newcastle 2-2 Manchester City
Burnley 0-2 Crystal Palace
Chelsea 0-1 West Ham
Liverpool 2-1 Brighton
Tottenham 3-2 Bournemouth
Southampton v Watford (late)

Wicked: For Good

Director: Jon M Chu

Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater

Rating: 4/5

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Updated: September 29, 2021, 8:07 AM