Afra Al Suwaidi unveiled her immersive installation at World Trade Centre Mall, Abu Dhabi. Courtesy DCT Abu Dhabi
Afra Al Suwaidi unveiled her immersive installation at World Trade Centre Mall, Abu Dhabi. Courtesy DCT Abu Dhabi
Afra Al Suwaidi unveiled her immersive installation at World Trade Centre Mall, Abu Dhabi. Courtesy DCT Abu Dhabi
Afra Al Suwaidi unveiled her immersive installation at World Trade Centre Mall, Abu Dhabi. Courtesy DCT Abu Dhabi

Artists brighten up Abu Dhabi’s malls with Art Space initiative


Alexandra Chaves
  • English
  • Arabic

Simrin Mehra-Agarwal’s work is a like dense forest – drawings of branches, leaves, tentacle shapes and other organic forms twist into each other to make her complex composition. Now on view at Al Ain’s Al Jimi Mall, her piece is one of three exhibits shown as part of this year’s Art Space initiative by the Department of Culture and Tourism - Abu Dhabi.

Launched in November 2020, Art Space acts as a platform for artists to showcase their works in the capital's retail spaces. The goal is to widen each artist’s audience, while more adding artistic elements to emirate's various commercial areas.

Simrin Mehra-Agarwal is exhibiting her work at Al Jimi Mall. Courtesy DCT Abu Dhabi
Simrin Mehra-Agarwal is exhibiting her work at Al Jimi Mall. Courtesy DCT Abu Dhabi

This year, Mehra-Agarwal was chosen for the initiative along with established Emirati painter and sculptor Abdulrahim Salim and emerging artist Afra Al Suwaidi.

Salim's Formations, a series of abstract paintings referencing the maheerah, or muse, is on display at Yas Mall. His canvasses are filled with soft sweeps of colour, as though figures and forms are emerging from a haze. Born in 1955, Salim grew up between Sharjah and Dubai. He completed his fine arts degree at Cairo University and returned to the UAE to become an educator and an early member of the UAE's art scene.

The paintings at Yas Mall are an extension of Salim’s solo exhibition at the capital’s Cultural Foundation that runs until February. Titled Between Serenity and Chaos, the show is composed of six chapters that consider the artist’s subjects and thematic narratives throughout his practice.

A painting by Abdulrahim Salim, on view at Yas Mall, Abu Dhabi. Courtesy DCT Abu Dhabi
A painting by Abdulrahim Salim, on view at Yas Mall, Abu Dhabi. Courtesy DCT Abu Dhabi

Al Suwaidi, who recently exhibited her work for Abu Dhabi Art 2020 as part of the fair’s commissions programme, has unveiled her immersive installation at World Trade Centre Mall, Abu Dhabi. Titled Slumber, the exhibit includes collages and sculptures, as well as objects such as toys, candy and foam. Behind these playful motifs, the Emirati artist tackles on a serious issue in this work, infusing a whimsical setting with dark overtones that hint at trauma and tackle the mistreatment of children.

Afra Al Suwaidi, one of the artists chosen for Art Space. Courtesy DCT Abu Dhabi
Afra Al Suwaidi, one of the artists chosen for Art Space. Courtesy DCT Abu Dhabi

Her installation for Abu Dhabi Art featured similar ideas, with Al Suwaidi examining how trauma appears in everyday domestic surroundings.

Both Mehra-Agarwal and Al Suwaidi are currently resident artists at the Cultural Foundation.

In a statement, DCT Abu Dhabi’s chairman, Mohamed Khalifa Al Mubarak, said: “Art Space is a testament to our commitment to supporting Abu Dhabi-based artists, who are critical to the development of a thriving and sustainable cultural and creative ecosystem in the emirate.”

Art Space is the result of a partnership between DCT Abu Dhabi and Aldar Properties, a developer in the emirate that is behind all three malls where the works are currently presented.

The artworks will remain on view until May 2021.

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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.”