Al Riwaq Art Space was credited with creating a vibrant art scene in Adliya, Bahrain, before rising rents forced it to vacate its premises in March 2018. The venue, which spearheaded the popular The Nest street festival and provided a base for local creatives, was so beloved that more than 2,000 people signed a petition against its closure, but to no avail.
Now, however, the gallery's masterminds are planning a comeback, as a new venue will open its doors in a new location, with a new vision, this year.
Manama's Yateem Centre – Bahrain's oldest mall – will be its new home, and extensive redevelopment work at the shopping complex is ongoing and nearing completion.
Al Riwaq owner Bayan Kanoo, in partnership with A M Yateem Brothers, has plans to drive the transformation of Manama, turning the city into a destination for arts and culture, locally and internationally.
The area chosen for the new development, close to the Bahrain capital's souq, is in the middle of an ambitious regeneration project that aims to regain its status as a cultural and commercial centre of the island. This scheme has already given rise to the opening of The Merchant House boutique hotel and the rejuvenation of the historical Bab Al Bahrain building.
"My hope is that the new Al Riwaq will be a place where creativity in all its forms can thrive – for all people, not only artists," Kanoo tells The National. "The goal is for art enthusiasts to further their interests, aspiring artists to develop new skills and established creators to launch careers."
The venue, which will encompass a ground floor and mezzanine area across 1,400 square metres, will open in September, with a co-working space, a 3D-printing and fabrication lab, a studio, gallery and cafe. Al Riwaq's notable concept store will also make a return, once again giving local artists a chance to sell their work to the public. There are also plans to repurpose the rooftop of Yateem Centre as a garden and park for events and pop-up markets.
Overall, it will take up a quarter of the space in the renovated mall, and will be its flagship tenant.
Al Riwaq Art Space's inaugural exhibition, Post-Fiction, will spotlight Manama's fictional narratives that have created a lasting impression on the kingdom. Tracing dominant narratives that shaped the capital, such as the British imperial legacy, trade history and urban planning, it will allow certain versions of history to be scrutinised by participating artists, which includes Abu Dhabi's Nasser Alzayani, Bahraini architects Ali Karimi and Hamed Bukhamseen, and artist and designer Mariam Alnoaimi, also from Bahrain.
Ahead of its official launch, the centre will begin a soft opening in August and introduce in-person events. These will include sessions on art appreciation and history, portfolio preparation for a variety of disciplines, film screenings and some skills-based workshops.
Giving local artists and creatives a platform through which to hone and improve their skills is what Al Riwaq Art Space is all about. “Nurturing a creative ecosystem is one of the most important ways we can make the world a better place,” says Kanoo.
Tips for SMEs to cope
- Adapt your business model. Make changes that are future-proof to the new normal
- Make sure you have an online presence
- Open communication with suppliers, especially if they are international. Look for local suppliers to avoid delivery delays
- Open communication with customers to see how they are coping and be flexible about extending terms, etc
Courtesy: Craig Moore, founder and CEO of Beehive, which provides term finance and working capital finance to SMEs. Only SMEs that have been trading for two years are eligible for funding from Beehive.
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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Asian Cup 2019
Quarter-final
UAE v Australia, Friday, 8pm, Hazza bin Zayed Stadium, Al Ain
