Kuwaiti-Palestinian artist Tarek Al-Ghoussein dies aged 60 in New York


Saeed Saeed
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Kuwaiti-Palestinian artist and academic Tarek Al-Ghoussein has died aged 60 in New York.

The news was announced by Dubai’s Third Line Gallery on Sunday. "It is with a heavy heart that we announce the sudden passing of Tarek Al-Ghoussein yesterday in New York City," reads the statement, posted to Instagram.

“Our thoughts and prayers are with his family. We will deeply miss our friend and artist, may his soul rest in eternal peace."

No cause of death has been announced.

'We're in shock'

New York University Abu Dhabi Arts Centre also released a statement on Twitter. As a professor of visual arts at NYU Abu Dhabi, Al-Ghoussein taught subjects such as photography and documentary photography.

“We're in shock," read the statement. "It’s a huge loss for the arts in the UAE, across the region and the world, but also personally for so many individuals at NYU AD."

Noura Al Kaabi, UAE Minister of Culture and Youth, also paid tribute to the ambitious artist, whose work was firmly rooted in the UAE.

"Our sincerest condolences to his family, loved ones and the NYU Abu Dhabi community,” she said on Instagram.

Barjeel Art Foundation founder, Sultan Al Qassemi, also paid his respects on Twitter.

“Tarek was an accomplished academic and artist, whose work was collected by regional institutions like the Sharjah Art Foundation and global museums like Guggenheim New York," he said.

Who was Tarek Al-Ghoussein?

Born in Kuwait to Palestinian parents, Al-Ghoussein was educated in the US, before settling in the UAE 25 years ago.

“Tarek’s work explored the boundaries between landscape photography, self-portraiture and performance art,” the Third Line statement said.

"Evocative photographs depicting abandoned spaces and objects examined both personal and general associations with the Middle East.

“He captured images of places and objects that would soon cease to exist, preserving the narrative of the spaces and their former inhabitants.

"Often inserting himself into the landscape images, as the ever-present protagonist.”

Odysseus: a legacy of work in Abu Dhabi

For the last seven years, Al-Ghoussein had been working on Odysseus, an epic photographic exhibition where he attempted to visually document all of the 214 islands off the coast of Abu Dhabi.

Al-Ghoussein exhibited images from approximately 30 islands in 2021 at The Third Line, including desolated towns such as Al Mousnoua, located 10 minutes off the main Abu Dhabi coast.

In a review for The National, writer Alexandra Chaves praised Al-Ghoussein for highlighting important issues with Odysseus.

“Through his images, the artist navigates ideas of place and habitation, as well as how we build and deconstruct spaces.

“While the fate of Odysseus remains unclear, the existing works that constitute the series will continue to raise these questions.”

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First Person
Richard Flanagan
Chatto & Windus 

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.

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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.

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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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The Internet
Hive Mind
four stars

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Updated: June 14, 2022, 8:46 AM