Jeremy Rees, chief executive of ExCeL, said 'it has been a challenging and unprecedented year'. Courtesy of ExCeL London
Jeremy Rees, chief executive of ExCeL, said 'it has been a challenging and unprecedented year'. Courtesy of ExCeL London
Jeremy Rees, chief executive of ExCeL, said 'it has been a challenging and unprecedented year'. Courtesy of ExCeL London
Jeremy Rees, chief executive of ExCeL, said 'it has been a challenging and unprecedented year'. Courtesy of ExCeL London

Abu Dhabi-owned ExCeL: 'Covid-19 is the toughest situation the venue's ever faced'


Alice Haine
  • English
  • Arabic

The Covid-19 pandemic is the “toughest situation” London’s Abu Dhabi-owned ExCeL exhibition centre has ever faced, according to its chief executive, as the venue expects a surge in post-pandemic business.

ExCeL London, which is owned by Abu Dhabi National Exhibitions Company (ADNEC), was transformed into Britain’s first coronavirus field hospital in April to help the country cope with a surge in coronavirus cases.

"It has been a challenging and unprecedented year, and like every other global exhibition and convention centre it has been the toughest situation that ADNEC and ExCeL have ever faced," Jeremy Rees, chief executive of ExCeL, told The National.

“As 2020 draws to a close, we find ourselves at a pivotal moment with vaccines starting to be rolled out across the world. In 2021, our focus will be getting our business safely back on track, motivating our team and taking strategic decisions that will create a sustainable future for us and our customers.”

The global events industry has been hammered by the Covid-19 crisis, as major exhibitions and conferences were cancelled to help curb the spread of the virus. For the UK events industry, which generates £70 billion ($94.78bn) of economic impact and employs more than 700,000 people across 25,000 businesses, the closure of several key events was a major loss.

ExCeL, London’s largest international exhibition and convention centre, typically hosts 400 events a year. Courtesy of ExCeL London
ExCeL, London’s largest international exhibition and convention centre, typically hosts 400 events a year. Courtesy of ExCeL London

ADNEC, a subsidiary of ADQ, acquired ExCeL, London’s largest international exhibition and convention centre, in 2008, with the venue typically hosting 400 events a year, attracting 4 million visitors and 40,000 exhibiting companies.

Events at ExCeL generate £4.5bn for the UK economy, support 37,600 jobs and drive 25 per cent of London’s inbound business tourists, according to Mr Rees.

“The organised events we host are a huge catalyst for trade. They drive billions of pounds worth of import and export activity and actively support the government's industrial strategy," he said.

“There will understandably be an impact due to Covid-19 and like countless other businesses we will need to adapt but I believe we can do so successfully. Whilst face-to-face events may be disrupted in the short term, I have no doubt that they will become more, not less, important in the future and there is every reason to be positive."

  • The new NHS Nightingale Hospital, built to fight against the spread of coronavirus, in London. Courtesy: Reuters
    The new NHS Nightingale Hospital, built to fight against the spread of coronavirus, in London. Courtesy: Reuters
  • Contractors and members of the armed forces help to build the new NHS Nightingale Hospital. Courtesy: Reuters
    Contractors and members of the armed forces help to build the new NHS Nightingale Hospital. Courtesy: Reuters
  • Vital use is being made of the spacious exhibition centre. Courtesy: Reuters
    Vital use is being made of the spacious exhibition centre. Courtesy: Reuters
  • Members of the Queen's Ghurka Engineers Regiment have been enlisted for the task of turning an exhibition space into a medical facility. Courtesy EPA
    Members of the Queen's Ghurka Engineers Regiment have been enlisted for the task of turning an exhibition space into a medical facility. Courtesy EPA
  • A member of the Queen's Ghurka Engineers Regiment helps to build the new NHS Nightingale Hospital. Courtesy Reuters
    A member of the Queen's Ghurka Engineers Regiment helps to build the new NHS Nightingale Hospital. Courtesy Reuters
  • Members of the Queen's Ghurka Engineers Regiment, 36 Engineer Regiment, help to build the new NHS Nightingale Hospital. REUTERS
    Members of the Queen's Ghurka Engineers Regiment, 36 Engineer Regiment, help to build the new NHS Nightingale Hospital. REUTERS
  • Soldiers from 1 Royal Anglian Regiment gt to work on constructing the emergency hospital. Courtesy EPA
    Soldiers from 1 Royal Anglian Regiment gt to work on constructing the emergency hospital. Courtesy EPA
  • Soldiers from 1 Royal Anglian Regiment arrive at the Excel Centre to build the new NHS Nightingale Hospital. Courtesy Reuters
    Soldiers from 1 Royal Anglian Regiment arrive at the Excel Centre to build the new NHS Nightingale Hospital. Courtesy Reuters
  • Soldiers from 1 Royal Anglian Regiment assist with the construction of the new NHS Nightingale Hospital. Courtesy Reuters
    Soldiers from 1 Royal Anglian Regiment assist with the construction of the new NHS Nightingale Hospital. Courtesy Reuters
  • Members of the Queen's Ghurka Engineers Regiment lend a vital helping hand to efforts to tackle the coronavirus pandemic. Courtesy Reuters
    Members of the Queen's Ghurka Engineers Regiment lend a vital helping hand to efforts to tackle the coronavirus pandemic. Courtesy Reuters
  • ExCel London is being transformed into a 4,000-bed field hospital. Courtesy: Reuters
    ExCel London is being transformed into a 4,000-bed field hospital. Courtesy: Reuters
  • Soldiers from 1 Royal Anglian Regiment arrive at the Excel Centre to build the new NHS Nightingale Hospital. Courtesy Reuters
    Soldiers from 1 Royal Anglian Regiment arrive at the Excel Centre to build the new NHS Nightingale Hospital. Courtesy Reuters
  • Metropolitan Police officers stand outside the new NHS Nightingale Hospital at ExCeL London. Courtesy Getty Images
    Metropolitan Police officers stand outside the new NHS Nightingale Hospital at ExCeL London. Courtesy Getty Images

The company underwent a huge transformation in late March when it spent nine days converting the centre into the UK's first Nightingale Hospital, which was opened in April by the country's future king, Prince Charles, who had himself only just recovered from the virus.

ADNEC did not charge any rent and offered to cover running costs at the site, and Mr Rees said the company was extremely “proud to have played a role” in supporting the UK government, NHS and frontline workers.

“It was an enormous privilege to make our facilities available to help the national effort in combatting coronavirus and helping to save lives,” he said.

The plan to transform the venue into the world’s largest field hospital with a capacity of up to 4,000 beds had the full support of ADNEC, with work starting the day after the agreement was made with the UK government.

“Our engineers, security officers, cleaners, riggers and traffic management team – more accustomed to hosting the world’s leading events – worked alongside the NHS, the military, as well as event industry contractors, to transform ExCeL into NHS Nightingale London,” said Mr Rees.

“An incredible team of 360 people worked round the clock to install the first 500 beds, fully equipped with ventilators and oxygen."

ADNEC offered similar support in the UAE, turning its group centres in Abu Dhabi and Al Ain into a field hospital and the Covid-19 Prime Assessment Centre. Adnec is now hosting the UAE's Department of Health for the Abu Dhabi Covid-19 vaccination campaign.

Looking ahead to 2021, Mr Rees said the “desire to get back to business is overwhelmingly strong”, and he expects the events industry to not only return to pre-pandemic levels but exceed previous targets.

Events already lined up include the World Travel Market, ICE Totally Gaming, corporate events for tech giants such as Google and Amazon Web Services and world-renowned medical congresses.

From next year, it will also host the ABB FIA Formula E Championship, which complements Abu Dhabi’s hosting of Formula One.

“Looking ahead, the biggest driver for us is that our customers want to run safe, successful, organised events. We will be supporting them in their aspirations to get back to business and begin their and our recovery as soon as possible,” Mr Rees said.

ExCeL's location by the Royal Docks in London is one of the venue's chief assets, he added, because the UK capital remains extremely attractive to event organisers.

"It’s a place that people genuinely want to visit and do business in," he said. "The city is open for business, with a time zone and language that enables trade on a truly global scale. When you bring your event to London, you are instantly within easy reach of a talent pool of 14 million people, working in world-leading sectors, from technology and fintech to finance and life sciences."

A view of ExCeL London. Jeremy Rees expects the events industry to not only return to pre-pandemic levels but also exceed previous targets. Courtesy of ExCeL London
A view of ExCeL London. Jeremy Rees expects the events industry to not only return to pre-pandemic levels but also exceed previous targets. Courtesy of ExCeL London

With more than 100,000 square metres of flexible space, making it the largest event space in London, ExCeL has plenty to offer event organisers, however, Mr Rees said the team will not rest on its laurels and is exploring how to diversify its business further, such as expanding its property portfolio.

"As demand to run large-scale events in London remains high, work is also under way to add significant capacity to the ExCeL site, which will ensure we remain a major player on the world stage for business events and congresses," he said.

When the Crossrail line eventually opens, it will help the centre transport thousands of visitors across London to its venue within 15 minutes.

"We have ambitious plans for growth beyond our core business. Our vision is to make ExCeL more of a destination, attracting new audiences, by working with globally recognised brands to deliver world-class entertainment and attractions," he said.

Another focus will be on sustainability and protecting the environment, something ExCeL has already put in motion, installing new water fountains last year and unveiling a #NoPlastic campaign.

"This year, we switched 100 per cent of our electricity supply to renewable sources, while our gas supply has been carbon offset," Mr Rees said.

"I believe we have every reason to be optimistic about the future and that within time, and when it is safe to do so, London will once again be a world-leading destination for meetings and events."

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.

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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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%3Cp%3EFirst%20ODI%20-%20Sunday%2C%20June%204%20%0D%3Cbr%3ESecond%20ODI%20-%20Tuesday%2C%20June%206%20%0D%3Cbr%3EThird%20ODI%20-%20Friday%2C%20June%209%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3EMatches%20at%20Sharjah%20Cricket%20Stadium.%20All%20games%20start%20at%204.30pm%0D%3Cbr%3E%0D%3Cbr%3E%3Cstrong%3EUAE%20squad%3C%2Fstrong%3E%0D%3Cbr%3EMuhammad%20Waseem%20(captain)%2C%20Aayan%20Khan%2C%20Adithya%20Shetty%2C%20Ali%20Naseer%2C%20Ansh%20Tandon%2C%20Aryansh%20Sharma%2C%20Asif%20Khan%2C%20Basil%20Hameed%2C%20Ethan%20D%E2%80%99Souza%2C%20Fahad%20Nawaz%2C%20Jonathan%20Figy%2C%20Junaid%20Siddique%2C%20Karthik%20Meiyappan%2C%20Lovepreet%20Singh%2C%20Matiullah%2C%20Mohammed%20Faraazuddin%2C%20Muhammad%20Jawadullah%2C%20Rameez%20Shahzad%2C%20Rohan%20Mustafa%2C%20Sanchit%20Sharma%2C%20Vriitya%20Aravind%2C%20Zahoor%20Khan%0D%3C%2Fp%3E%0A
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