Alana Hadid, whose father Mohamed is Palestinian, will become the company's creative director. Getty Images
Alana Hadid, whose father Mohamed is Palestinian, will become the company's creative director. Getty Images
Alana Hadid, whose father Mohamed is Palestinian, will become the company's creative director. Getty Images
Alana Hadid, whose father Mohamed is Palestinian, will become the company's creative director. Getty Images

Watermelon Pictures: Alana Hadid to lead new Palestinian film company


Evelyn Lau
  • English
  • Arabic

Alana Hadid, the older half-sister of models Bella and Gigi, is joining the newly launched Watermelon Pictures as creative director.

Described as a Palestinian-owned independent film distribution, production and financing company, it will focus on “cultural representation and social advocacy” as well as aim to amplify the voices of underrepresented directors around the world.

“Our goal is to provide a safe haven for excluded voices striving for creative resistance,” said Hadid. “Through our film releases, we aim to educate and inspire audiences worldwide to stand up against injustice.”

A company statement added: “The Watermelon Pictures brand embodies the vibrancy and resilience of Palestinian culture, symbolised by the iconic fruit that shares its colours with the Palestinian flag."

Watermelon Pictures' debut film will be a documentary called Walled Off, directed by Vin Arfuso. It focuses on The Walled Off Hotel, a Palestinian-managed boutique in Bethlehem that is financed and designed by street artist Banksy. Through its narrative, the documentary delves into the daily realities of the Palestinian residents and highlights the importance of creative resistance as a form of protest.

The movie is co-produced by Hadid’s brother, American-Palestinian model and musician Anwar Hadid, Pink Floyd’s Roger Waters – whose political views, including those on Israel, have stoked controversy in recent years – and Kweku Mandela, grandson of former South African president Nelson Mandela.

The film will be released in select theatres and digital platforms on May 3.

Who is Alana Hadid?

Mohamed Hadid with daughter Alana. Getty Images.
Mohamed Hadid with daughter Alana. Getty Images.

Alana is one of two daughters from Mohamed Hadid’s first marriage to Mary Butler. She was born in July 1985 in Washington DC, and is known for being a great supporter of her half-siblings Bella, Gigi and Anwar, as well as her older sister Marielle.

She is a fashion designer and co-owner of an eyewear store. Alana also made her runway debut last year at Copenhagen Fashion Week by opening the Saks Potts show.

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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.”

Updated: April 06, 2024, 10:04 AM