• Damien Hirst, 'The Miraculous Journey' (2013). All photos: Qatar Museums
    Damien Hirst, 'The Miraculous Journey' (2013). All photos: Qatar Museums
  • Faraj Daham, 'The Ship' (2022).
    Faraj Daham, 'The Ship' (2022).
  • Louise Bourgeois, 'Maman' (2012).
    Louise Bourgeois, 'Maman' (2012).
  • Simone Fattal, 'Gates to the Sea' (2019).
    Simone Fattal, 'Gates to the Sea' (2019).
  • Shouq Al Mana, 'Egal' (2022).
    Shouq Al Mana, 'Egal' (2022).
  • Richard Serra, '7' (2011).
    Richard Serra, '7' (2011).
  • Kaws, 'Small Lie' (2018).
    Kaws, 'Small Lie' (2018).
  • Martin Creed, '1361' (2019).
    Martin Creed, '1361' (2019).
  • Shua’a Ali, 'Milestones' (2022).
    Shua’a Ali, 'Milestones' (2022).
  • Katharina Fritsch, 'Hahn' (2013).
    Katharina Fritsch, 'Hahn' (2013).

Jeff Koons, Kaws and the famous artists taking over Doha's streets ahead of the World Cup


Razmig Bedirian
  • English
  • Arabic

Qatar Museums is ramping up its public art initiative in the lead-up to the Fifa World Cup 2022.

More than 40 artworks will be put up across public spaces in Doha in the next few months. This is part of a programme to turn the Qatari capital into an open-air museum. Many of the new works are by heavyweights from the artworld including Yayoi Kusama, Simone Fattal, Jeff Koons and Kaws.

Once installed, Doha will be home to more than 100 public pieces.

Japanese artist Kusama will be presenting several temporary works in the area outside the Museum of Islamic Art. These include My Soul Blooms Forever, a monumental collection of vibrant stainless steel flowers, as well as her polka-dot sculpture Dancing Pumpkin.

Koons, who is famous for his balloon animal sculptures, has created a colossal stainless steel sculpture of a dugong. The work, which is 21 metres tall and 31 metres wide, pays homage to the endangered animal, which can be found in Qatar’s waters. The sculpture by the US artist will be placed at Al Masrah Park.

Iraqi sculptor Ahmed Al Bahrani will also present work in tribute to the vulnerable marine animal with his Dugong Family installation.

Kaws already has work installed in the country, including 'Small Lie' seen here at the main airport in Doha. Photo: Qatar Museums
Kaws already has work installed in the country, including 'Small Lie' seen here at the main airport in Doha. Photo: Qatar Museums

US artist Kaws has created a site-specific work that will be displayed at the Dadu Garden, which is scheduled to open this year. The artwork, titled The Promise, features the companion figures the artist is renowned for. Qatar also has one of Kaws’s largest Small Lie sculptures as a centerpiece of Hamad International Airport.

Lebanese artist Fattal will be presenting three conical sculptures of blue granite with Maqam I, Maqam II, Maqam III. The works, which are named after the modes used in traditional Arabic music, allude to the shape of dunes.

A giant blue cockerel sculpture titled Hahn by German artist Katharina Fritsch will be displayed at the Sheraton Grand Doha Resort and Convention Hotel

“The addition of 40 new works of public art is a milestone,” said Al-Mayassa bint Hamad bin Khalifa Al Thani, president of the Qatar Museum. “Public art is one of our most significant forms of cultural exchange, where we present the works of artists of all nationalities and origins.”

When the works are installed, Doha will have one of the most sprawling public art programmes in the region. The Qatari capital, however, already has dozens of impressive works decorating its cityscape. Here are five to know:

'The Miraculous Journey'

Damien Hirst's 'The Miraculous Journey' (2013). Photo: Qatar Museums
Damien Hirst's 'The Miraculous Journey' (2013). Photo: Qatar Museums

This series of 14 bronze sculptures by English artist Damien Hirst trace the development of a fetus all the way to birth. The works, which culminate with a 14-metre-tall figure of a baby boy, are lined in front of Sidra Medical Centre, a hospital for women and children.

“Everyone talks about life’s journey, but we have a whole journey before we’re born,” Hirst has said about the work.

'Milestones'

Shua’a Ali's 'Milestones' (2022). Photo: Qatar Museums
Shua’a Ali's 'Milestones' (2022). Photo: Qatar Museums

Qatari artist Shua’a Ali's Milestones features the artist’s idiosyncratic stacked rock and stone formations, but in a more colossal scale and with the addition of cinderblocks and ropes.

The work, which reflects upon Ali’s blending of European post-war expressionism with references to local heritage, is located on Grand Hamad Street.

'7'

Richard Serra's '7' (2011). Photo: Qatar Museums
Richard Serra's '7' (2011). Photo: Qatar Museums

US artist Richard Serra’s 7 looms 24 meters above MIA Park and is made up of seven plates organised in seven sides. The arrangement and the title of the work alludes to the spiritual significance of the number in Islamic culture.

The work’s design reflects upon the Ghazni minaret in Afghanistan. It was constructed over a period of three years and took one million man hours.

'Gates to the Sea'

Simone Fattal's 'Gates to the Sea' (2019). Photo: Qatar Museums
Simone Fattal's 'Gates to the Sea' (2019). Photo: Qatar Museums

Fattal’s Gates to the Sea alludes to the rock carvings found in archaeological sites across Qatar.

The petroglyphs depict boats and fish scales and are symbolic of the nation’s inextricable relationship with the sea.

The sculpture’s location near the entrance to the National Museum of Qatar conveys a connection between the present and the past.

'The Ship'

Faraj Daham's 'The Ship' (2022). Photo: Qatar Museums
Faraj Daham's 'The Ship' (2022). Photo: Qatar Museums

Another work reflecting on Qatar’s connection to the sea is The Ship by Qatari artist Faraj Daham. Made of wood and concrete, and standing 10 meters high, the sculpture is a restrained representation of the traditional shipping boat.

Etching on the concrete plinth it stands on features abstract depictions of fishing nets.

The sculpture is installed on the grounds of Al Janoub Stadium.

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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.”

Company profile

Date started: December 24, 2018

Founders: Omer Gurel, chief executive and co-founder and Edebali Sener, co-founder and chief technology officer

Based: Dubai Media City

Number of employees: 42 (34 in Dubai and a tech team of eight in Ankara, Turkey)

Sector: ConsumerTech and FinTech

Cashflow: Almost $1 million a year

Funding: Series A funding of $2.5m with Series B plans for May 2020

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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While you're here
Financial considerations before buying a property

Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.

“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says. 

Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.

Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier. 

What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

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Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

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Director Hansal Mehta

Stars: Kangana Ranaut, Soham Shah, Esha Tiwari Pandey

Three stars

Updated: August 13, 2022, 4:55 AM