A detail from Break of the Atom and Vegetal Life by Fahr El-Nissa Zeid that is estimated to fetch between Dh11-14.7 million. Courtesy Christie's
A detail from Break of the Atom and Vegetal Life by Fahr El-Nissa Zeid that is estimated to fetch between Dh11-14.7 million. Courtesy Christie's
A detail from Break of the Atom and Vegetal Life by Fahr El-Nissa Zeid that is estimated to fetch between Dh11-14.7 million. Courtesy Christie's
A detail from Break of the Atom and Vegetal Life by Fahr El-Nissa Zeid that is estimated to fetch between Dh11-14.7 million. Courtesy Christie's

A developing scene


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Ever since it set up shop in Dubai in 2006, Christie’s Middle East has been breaking records in the region. But its forthcoming sale looks set to smash its previous achievements.

With three parts – including a new online-only section and the return of the watches, which have been absent from the market here since 2010 – this is the biggest sale the auction house has hosted in the ­region.

It also contains the highest-priced lot ever to go under the hammer – Break of the Atom and Vegetal Life, a 1962 five-metre oil on canvas by Fahr El-Nissa Zeid that is estimated to fetch between US$3-4 million (Dh11-14.7m). The artist is the only woman from the Arab world to have cemented her name in the abstract art movement.

And if this painting is not enough to get one excited, there are plenty more on offer. Also in the sale are sister artworks to the two most prominent pieces Christie’s Middle East has ever sold.

Oh Persepolis II, a polished bronze monolith that commemorates the ceremonial capital of the Achaemenid Empire, is a monumental work that took Parviz Tanavoli 23 years to complete. The influential Iranian sculptor made Christie’s history in 2008 when The Wall (Oh Persepolis) sold for $2.8m, a price that is still the current world auction record for any Middle Eastern artist.

Abdulnasser Gharem, the former government worker whose 2011 work Dome sold for $842,500, establishing him as the most highly valued living Saudi artist, will present The Capitol Dome, a work created in 2012.

The five-metre sculpture is a 13:1 scale replica of the Capitol dome in Washington, propped up by a miniature version of Thomas Crawford’s 19th-century statue of the armed goddess Freedom who has a rope around her neck. Questioning the very notion of freedom and liberty in a politically unstable world, Gharem’s piece is almost certain to bring him yet more accolades.

“We have really high price tags this season because we have some really special pieces,” explains Hala Khayyat, the associate director and head of sales at Christie’s Middle East. “Gharem’s work for example is a foundational, institutional piece and the others are so important.”

Khayyat also points out the other highlights of Part One of the sale, set to take place on October 29.

They include a Safwan Dahoul ­triptych that comments on the social situation in Syria as well as following the artist’s consistent theme of dreams; Home Sweet Home by Farhad Moshiri, whose pop art makes a comment on the superficial layers of western culture clashing with the fundamentalism present in his native Iran; and La Lutte de l’Existence by the modern Lebanese artist Paul Guiragossian.

The latter, Khayyat explains, was acquired from the personal collection of the late artist’s family and is a veritable bargain at $600,000. “The reality is that if this piece doesn’t sell, it goes back to the family and no one will get it for less than a million,” she says. “There are only 15 of this size in the world.”

These are just some of the 30 most valuable works in the first part of the sale. Part Two, set to take place the following day, will add 112 works. The third part, the online sale, has 53 lots, completing the auction house’s 15th sale season in Dubai, not including the 50 watches in the sale open to the public at the Jumeirah Emirates Towers Hotel.

Also running concurrently with the auctions is a Christie’s Education four-day programme titled Introduction to the International Art ­Market. It is the first time that the educational arm of the auction house has come to Dubai, offering an exceptional opportunity to anyone interested in furthering their knowledge.

“This is actually a reply to a great demand that we have been receiving for the past six years,” says Khayyat. “Every time we have the sale, people come in and ask if we do courses on art history, so we are happy to introduce this programme.”

There are international speakers talking on subjects such as the structure of the art world, the power of the collector, how to value art and the “isms” of modern art, as well as studio visits and a gallery tour.

Khayyat says she attended a similar course in 2007 that changed her life. “Before that I was so into art but I had no direction. If people are really interested in buying, then eventually they need education.”

This season is the biggest and brightest yet for Christie’s and signifies what Khayyat calls a natural progression.

“After we have been doing sales for a few years, now we feel confident that there is a demand and there is traffic and people coming through so it is time to invest in them.”

• Christie’s Modern and Contemporary Arab, Iranian and Turkish Art takes place at the Jumeirah Emirates Towers Hotel on October 29 and 30 at 7pm. Christie’s Watch sale will take place on October 29 at 8pm and the online sale will run from Thursday until November 11

In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

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The specs

Engine: four-litre V6 and 3.5-litre V6 twin-turbo

Transmission: six-speed and 10-speed

Power: 271 and 409 horsepower

Torque: 385 and 650Nm

Price: from Dh229,900 to Dh355,000

Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
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COMPANY PROFILE

Company name: Letstango.com

Started: June 2013

Founder: Alex Tchablakian

Based: Dubai

Industry: e-commerce

Initial investment: Dh10 million

Investors: Self-funded

Total customers: 300,000 unique customers every month

The distance learning plan

Spring break will be from March 8 - 19

Public school pupils will undergo distance learning from March 22 - April 2. School hours will be 8.30am to 1.30pm

Staff will be trained in distance learning programmes from March 15 - 19

Teaching hours will be 8am to 2pm during distance learning

Pupils will return to school for normal lessons from April 5

What are the influencer academy modules?
  1. Mastery of audio-visual content creation. 
  2. Cinematography, shots and movement.
  3. All aspects of post-production.
  4. Emerging technologies and VFX with AI and CGI.
  5. Understanding of marketing objectives and audience engagement.
  6. Tourism industry knowledge.
  7. Professional ethics.
The bio

Job: Coder, website designer and chief executive, Trinet solutions

School: Year 8 pupil at Elite English School in Abu Hail, Deira

Role Models: Mark Zuckerberg and Elon Musk

Dream City: San Francisco

Hometown: Dubai

City of birth: Thiruvilla, Kerala

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

Essentials

The flights

Emirates and Etihad fly direct from the UAE to Geneva from Dh2,845 return, including taxes. The flight takes 6 hours. 

The package

Clinique La Prairie offers a variety of programmes. A six-night Master Detox costs from 14,900 Swiss francs (Dh57,655), including all food, accommodation and a set schedule of medical consultations and spa treatments.

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If you go...

Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.

Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50

The specs: 2019 Aston Martin DBS Superleggera

Price, base: Dh1.2 million

Engine: 5.2-litre twin-turbo V12

Transmission: Eight-speed automatic

Power: 725hp @ 6,500pm

Torque: 900Nm @ 1,800rpm

Fuel economy, combined:  12.3L / 100km (estimate)

THE BIO

Born: Mukalla, Yemen, 1979

Education: UAE University, Al Ain

Family: Married with two daughters: Asayel, 7, and Sara, 6

Favourite piece of music: Horse Dance by Naseer Shamma

Favourite book: Science and geology

Favourite place to travel to: Washington DC

Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.

The Bio

Name: Lynn Davison

Profession: History teacher at Al Yasmina Academy, Abu Dhabi

Children: She has one son, Casey, 28

Hometown: Pontefract, West Yorkshire in the UK

Favourite book: The Alchemist by Paulo Coelho

Favourite Author: CJ Sansom

Favourite holiday destination: Bali

Favourite food: A Sunday roast

The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
The specs

Engine: 8.0-litre, quad-turbo 16-cylinder

Transmission: 7-speed auto

0-100kmh 2.3 seconds

0-200kmh 5.5 seconds

0-300kmh 11.6 seconds

Power: 1500hp

Torque: 1600Nm

Price: Dh13,400,000

On sale: now

Who has lived at The Bishops Avenue?
  • George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
  • Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
  • Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
  • Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills. 
Hunting park to luxury living
  • Land was originally the Bishop of London's hunting park, hence the name
  • The road was laid out in the mid 19th Century, meandering through woodland and farmland
  • Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds

 

Summer special