“His genius was clear to all those who met him,” says Zaki Nusseibeh of Christo.
"He was full of ideas, full of energy," the UAE's Minister of State tells The National.
The pioneering Bulgarian-born artist had dreams of building the world's largest sculpture in the UAE. He died, aged 84 on Sunday, May 31 at his home in New York City.
Christo was as enthusiastic about the mastaba project in his later years as he was when he first came to the UAE with his wife and collaborator, Jeanne-Claude, in 1979.
The project was envisioned as a 150-metre-high and 330-metre-wide pyramid structure, crafted out of 410,000 oil barrels painted in different shades of okra yellow. With an estimated cost of $350 million, the project was planned to be built out in the Liwa desert and become one of the most recognisable landmarks in the country.
“Abu Dhabi was a small community in the 1970s, so we met Christo regularly during his first visit,” Nusseibeh says.
"Christo spoke about the project even then. But it wasn’t embraced or appreciated at the time, mainly because Abu Dhabi was still concerned with building infrastructure and wasn’t yet ready to invest such sums on an art installation.”
Nusseibeh says a number of factors prevented the project from coming to fruition. “It was an ambitious large-scale project. Christo knew how to raise funds for his works and the UAE government was ready to give him a plot of land to construct the mastaba. However, due to a number of reasons, it never came to be.”
Nusseibeh and Christo stayed in touch over the decades, with Nusseibeh regularly keeping up with the late artist’s works in Germany, France and the United States.
“He started coming back regularly in the last ten years. We met regularly at my home and at my office,” Nusseibeh says, adding that Christo was still eager to see the mastaba project come to fruition.
Christo often spoke of how he wanted to complete the project in honour of his wife Jean Claude, who died in 2009.
“Christo was serious about the project. He would go out to the western parts of the country, to Dhafrah and Madinat Zayed, researching the area and conducting art workshops there,” Nusseibeh says.
Nusseibeh says Christo produced various iterations of his mastaba concept, including sketches and drawings, as well as a smaller-scale version (made of 7,506 barrels) that was showcased on the Serpentine lake in London’s Hyde Park.
“Pyramids, to him, were a symbol of man’s use of the natural resources to build civilizations. And, as this was where the story of oil was, he was keen to have the monumental version of the mastaba built here in the UAE.
"It was supposed to be a permanent fixture, unlike Christo’s other structures, which were transitory.”
Christo still left a mark on the local cultural scene, even if his monumental structure did not get built to loom over the Liwa desert in his lifetime.
The Christo and Jeanne Claude Award – presented by New York University Abu Dhabi and in partnership with the Abu Dhabi Music & Arts Foundation (ADMAF) – was established in 2012 with the aim of nurturing artistic talent in the UAE.
Nusseibeh, who was previously a member of the judging committee, says that the award is a faithful reflection of Christo’s contribution to the local cultural community.
“He was keen on supporting up-and-coming artists. He regularly held workshops with students from NYU and Zayed University.”
Nusseibeh, who last saw Christo during the artist’s retrospective exhibition in Brussels in 2017, says that the artist will be sorely missed by the UAE’s cultural community.
“We know Christo loved the UAE and we in the Emirates loved him back.”
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.”
Cultural fiesta
What: The Al Burda Festival
When: November 14 (from 10am)
Where: Warehouse421, Abu Dhabi
The Al Burda Festival is a celebration of Islamic art and culture, featuring talks, performances and exhibitions. Organised by the Ministry of Culture and Knowledge Development, this one-day event opens with a session on the future of Islamic art. With this in mind, it is followed by a number of workshops and “masterclass” sessions in everything from calligraphy and typography to geometry and the origins of Islamic design. There will also be discussions on subjects including ‘Who is the Audience for Islamic Art?’ and ‘New Markets for Islamic Design.’ A live performance from Kuwaiti guitarist Yousif Yaseen should be one of the highlights of the day.
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
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Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
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2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Where to donate in the UAE
The Emirates Charity Portal
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The General Authority of Islamic Affairs & Endowments
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
Al Noor Special Needs Centre
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Emirates Airline Foundation
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
Emirates Red Crescent
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Noor Dubai Foundation
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).
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