Rami Farook, the owner of Traffic gallery in Dubai, with one of the pieces from his personal collection, 'Vandalism Is What Idealism Does' by local artist Ubik.
Rami Farook, the owner of Traffic gallery in Dubai, with one of the pieces from his personal collection, 'Vandalism Is What Idealism Does' by local artist Ubik.

Dubai's art scene buzzes



Follow the artists, goes the adage, to those in search of the next Bohemia. It's a few years since the first galleries started opening amid the old iron mongers, carpentry warehouses, car showrooms and-out-of-town supermarkets of Dubai's Al Quoz district, and the place may still seem like an industrial wasteland, but its transformation into the happening focus of a burgeoning art scene continues apace.

The Third Line gallery first identified the area's potential five years ago and since then, other galleries including Meem and Carbon 12, and art-centre hangouts for "collectives" such as Jam Jar and Shelter, have flocked to install themselves on the hard shoulders of its desolate highways.

Tonight, the Emirati art dealer Rami Farook launches the flagship headquarters of his art gallery, Traffic, on Umm Suqeim road, a four-warehouse compound opening on to a terrace and garden.

And following the success of the Abu Dhabi Art fair, he's marking his arrival with a full-scale bash, and even flying in the rapper The Narcicyst, from Canada to perform.

It was Farook's growing collection, now amounting to more than 200 pieces, that prompted the move, and the new premises are intended as much to house that collection as to provide a commercial exhibition space and business HQ.

"We simply outgrew the old space, both in terms of the business transition I was making, and the direction I was taking personally," he says.

"The move to Al Quoz was natural. There ceilings are higher, and the rents are lower. We'll have double the space, and the terrace and garden are ideal for sculpture."

The premises comprise four warehouses now converted into immaculate exhibition spaces. A lounge, reception area, bookstore and cafe lead on to two galleries, with a third and fourth warehouses serving as offices and private viewing rooms. The new galleries will provide the breadth and scope to show his own collection, while allowing him to invite other collectors to show their work.

"I've felt for some time that I wanted to share my collection in public," says Farook. "I've got so much in storage that I haven't been able to enjoy, and I wanted to make the space available to other collectors."

Farook divides his work into nine categories, including Arab, European and Asian contemporary art, as well as more traditional work, and new media such as street art. "I think of it as a body of work, and I wanted that body to be strong as a whole. I hope to help artists develop, particularly those not from the region, or whose work hasn't been presented properly in the past."

The opening show, entitled The State, is loaded with polemical charge, gathering the work of artists from 10 countries, including Russia, Iran and Cuba, and referencing the September 11 attacks, worldwide perceptions of Islam, and regional upheaval.

"It fits the current climate in terms of what's happened since 9/11, with the war on terror, and the conflicts and internal struggles we've seen in the Middle East," he says.

"We're not activists, but we're aiming to document the times we're living in."

The Traffic booth at the Abu Dhabi Art fair posed a visual dialogue between two artists: the Dubai-based American James Clar, and Abdulnasser Gharem, a lieutenant colonel in the Saudi Arabian army. Works by both will figure at the opening.

Farook also used the fair to expand his own collection, picking up a piece by next year's Abraaj Capital prize-winning artist Shezad Dawood from the London gallery Paradise Row.

Tonight's show will feature another Dawood entitled Nation of Islam, a solid gold knuckle-duster set with fake diamonds spelling the word "Allah".

"It touches on notion of Islamic fanaticism, and current global perceptions of Islam," says Farook.

The centrepiece, Mounir Fatmi's Save Manhattan III, comprises 90 speakers shaped to resemble the pre-9/11 New York skyline, with the speakers playing sounds recorded on the city's streets. It previously formed part of the 2007 Venice biennale. "You get a real feel of being in New York before that day," says Farook.

Another focal point is a photographic piece by Sama Alshaibi, which at first glance appears to depict the minarets of mosques, but on closer inspection turns out to be a missile silo. Somewhat incongruously however, the image was in fact shot at a US military facility in Arizona. "It plays on issues surrounding politics and religion, such as Switzerland's recent banning of minarets," says Farook. "What's fun about this piece is you realise it's not at all what it seems."

Mona Hatoum's porcelain sculpture Witness is another key attraction, inspired by the monument in Beirut's Martyr's Square commemorating Lebanese nationalists hung by the Ottomans in the First World War.

Meanwhile, the show's commercial exhibits by the Iranian artist Hesam Rahmanian are selling like hotcakes. "Two-thirds have gone already, so we must be doing something right," he says.

* Timur Moon

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

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.”

At a glance

Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.

 

Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year

 

Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month

 

Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30 

 

Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse

 

Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth

 

Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

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Transmission: 7-speed PDK auto or 6-speed manual
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On sale: Available to order now
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A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5

Ibrahim's play list

Completed an electrical diploma at the Adnoc Technical Institute

Works as a public relations officer with Adnoc

Apart from the piano, he plays the accordion, oud and guitar

His favourite composer is Johann Sebastian Bach

Also enjoys listening to Mozart

Likes all genres of music including Arabic music and jazz

Enjoys rock groups Scorpions and Metallica 

Other musicians he likes are Syrian-American pianist Malek Jandali and Lebanese oud player Rabih Abou Khalil

In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

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Price, base / as tested: Dh74,900 / Dh85,900

Engine: 937cc

Transmission: Six-speed gearbox

Power: 110hp @ 9,000rpm

Torque: 93Nm @ 6,500rpm

Fuel economy, combined: 5.9L / 100km

RESULTS

5pm Maiden (PA) Dh70,000 (Dirt) 1,400m

Winner AF Nashrah, Tadhg O’Shea (jockey), Ernst Oertel (trainer)

5.30pm Maiden (PA) Dh70,000 (D) 1,400m

Winner Mutaqadim, Riccardo Iacopini, Ibrahim Al Hadhrami.

6pm Maiden (PA) Dh70,000 (D) 1,600m

Winner Hameem, Jose Santiago, Abdallah Al Hammadi.

6.30pm Maiden (PA) Dh70,000 (D) 1,600m

Winner AF Almomayaz, Sandro Paiva, Ali Rashid Al Raihe.

7pm Handicap (PA) Dh70,000 (D) 1,800m

Winner Dalil Al Carrere, Fernando Jara, Mohamed Daggash.

7.30pm Handicap (TB) Dh70,000 (D) 1,000m

Winner Lahmoom, Royston Ffrench, Salem bin Ghadayer.

8pm Handicap (PA) Dh70,000 (D) 1,000m

Winner Jayide Al Boraq, Bernardo Pinheiro, Khalifa Al Neyadi.

Moon Music

Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5