Churches, palaces, a fortress and theatre – these are on the list of Europe’s heritage sites that are facing ruin.
Europa Nostra, a heritage organisation in Europe, has announced the shortlist for its 7 Most Endangered Programme 2021. A total of 12 sites have been included, of which seven will be selected for next year's programme.
There's the Palazzo Ca'Zenobio in Venice, Italy, a 17th-century example of late Baroque architecture, its interiors filled with frescoes and stuccoes by notable artists. Once a college run by Armenian monks for 146 years, it closed in 1997 and has since deteriorated.
Scroll through our gallery above to see some of the sites on the endangered heritage list.
In Greece, a cluster of five islands in the southern part of the Aegean Sea is being transformed into an industrial zone by the Greek government, which hopes to install wind turbines that will supply energy to various parts of the country. Such machines will not only affect the landscape, according to Europa Nostra, but will also "have effects on the morphological and climatic elements of the islands, endangering both flora and fauna".
Meanwhile, the steam operated Achensee Cog Railway in Tyrol, Austria, has been in use for more than 130 years. It still uses equipment from 1889, including steam locomotives, passenger carriages and its engine house. Earlier this year, the railway went bankrupt, though the subsidies owed by the provincial government have not yet been doled out. Certain groups have now called for the preservation of the railway.
Also on the list is a fortress along the Silk Road in Georgia; a hermitage built into Spain’s Cantabrian limestone mountains; and a 1974 Brutalist building in Macedonia. These sites are in form of disrepair following neglect or lack of funding to preserve them.
In a statement, Europa Nostra said that the list is created “on the basis of the outstanding heritage significance and cultural value of each of the sites, as well as on the basis of the serious danger that they are facing". The sites were chosen by an advisory panel of experts in archaeology, architecture, conversation and history, among others.
Since 2013, the organisation has biannually released the 7 Most Endangered List in an attempt to draw attention to threatened heritage sites, with damages caused by neglect or poor planning. Though Europa Nostra does not provide funding to conserve the sites, it does help ring alarm bells for structures that might be forgotten or overlooked.
By gaining attention from authorities and the public through the list, Europa Nostra hopes to government agencies, as well as heritage experts come together to instigate “rescue missions to the selected sites and help formulate a feasible action plan for them.”
The 12 shortlisted sites are:
- Achensee Steam Cog Railway, Tyrol, Austria
- Modern Theatre, Sofia, Bulgaria
- Cemetery Complex of Mirogoj, Zagreb, Croatia
- Church Of Saint-Denis, Hauts-de-France, France
- Narikala Fortress, Tbilisi, Georgia
- Green Space System, Cologne, Germany
- Five Southern Aegean Islands, Greece
- The Giusti Garden, Verona, Italy
- The Ca' Zenobio Palace, Venice, Italy
- Decani Monastery, Kosovo
- Central Post Office, Skopje, North Macedonia
- San Juan De Socueva Chapel and Hermitage, Cantabria, Spain
The final 7 Most Endangered List for 2021 will be announced in March.
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This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
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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.”
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About Karol Nawrocki
• Supports military aid for Ukraine, unlike other eurosceptic leaders, but he will oppose its membership in western alliances.
• A nationalist, his campaign slogan was Poland First. "Let's help others, but let's take care of our own citizens first," he said on social media in April.
• Cultivates tough-guy image, posting videos of himself at shooting ranges and in boxing rings.
• Met Donald Trump at the White House and received his backing.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills