Taylor Swift wears a golden tulle gown by Lebanese designer Elie Saab during her Eras world tour. Photo: Instagram / Elie Saab World
Taylor Swift wears a golden tulle gown by Lebanese designer Elie Saab during her Eras world tour. Photo: Instagram / Elie Saab World
Taylor Swift wears a golden tulle gown by Lebanese designer Elie Saab during her Eras world tour. Photo: Instagram / Elie Saab World
Taylor Swift wears a golden tulle gown by Lebanese designer Elie Saab during her Eras world tour. Photo: Instagram / Elie Saab World

Taylor Swift stuns on stage in golden Elie Saab ballgown


Sophie Prideaux
  • English
  • Arabic

All eyes are on Taylor Swift as she continues to embark on her long-awaited Eras world tour, and the star is pulling out all the wardrobe stops for the occasion.

Swift is known to turn to designers from the Middle East to dress her for big occasions, and this tour is no different.

On Friday night during the first of three shows at New Jersey's MetLife Stadium, the star took to the stage in a gold tulle dress by Lebanese designer Elie Saab, one of Swift's go-to favourites.

The star wore the dreamy gown featuring a ruched neckline and intricate corset detailing as she performed power balled Enchanted. The dress is from the designer's Haute Couture Autumn Winter 2020 collection.

And its not the first time Swift has chosen Saab during her much anticipated tour. The Shake it Off singer appeared on stage in a floral couture gown by Saab last month as she performed in Tampa, Florida.

Featuring long sleeves and heavy embellishment, the skirt of the delicate mesh gown was adorned with dozens of delicate 3D petals.

Swift has also chosen Saab to dress her for several red carpet moments, including the 2015 Grammy Awards, when she wore a custom teal ombre metallic gown, which featured a short front and caped long train skirt.

She also turned to the designer for the 2013 Country Music Awards in Nashville. For that occasion, she chose a classic satin gown in deep red with a full skirt, featuring floral embellishment.

Saab is not the only Lebanese designer Swift has championed during her Eras tour wardrobe.

At one of the tour’s March stops in Glendale, Arizona, Swift appeared in a custom-made glittering gown by Zuhair Murad.

The pink princess-cut dress featured thin straps, a full skirt and intricate bead work that covered the dress, making the waist the focal point.

Murad also created a custom midnight blue embellished bodysuit for the tour, which Swift wore on stage in Las Vegas.

Swift is a long-time fan of Murad. For the 2012 Grammys, she wore a nude dress with gold embellishing from the brand’s 2011 haute couture collection. Murad also created several custom embellished catsuits for her 1989 world tour in 2015.

The star has shown love to other designers from the region in the past, too. In the 2014 music video for hit Blank Space, Swift wore a white pencil dress by Lebanese designer Georges Chakra in one scene.

Swift has also chosen Lebanese designer Reem Acra for several occasions, including bridesmaid duties for the wedding of her childhood best friend Brit Maack’s wedding in 2016.

The dress had an intricate lacework top and a flowing blush pink skirt.

She also wore a dress by the designer for the Winter Whites Gala in London in 2014. That gown featured an gold embellished top and flowing white skirt.

See Taylor Swift’s style evolution

  • Taylor Swift, in an embellished LBD, arrives at the American Music Awards in Los Angeles, California, on November 18, 2007. EPA
    Taylor Swift, in an embellished LBD, arrives at the American Music Awards in Los Angeles, California, on November 18, 2007. EPA
  • Taylor Swift, in Sandy Spika, arrives at the Grammy Awards at the Staples Centre in Los Angeles, California, on February 10, 2008. EPA
    Taylor Swift, in Sandy Spika, arrives at the Grammy Awards at the Staples Centre in Los Angeles, California, on February 10, 2008. EPA
  • Taylor Swift, in a navy mini dress, arrives for the Grammy Awards nominations in Los Angeles, California, on December 3, 2008. EPA
    Taylor Swift, in a navy mini dress, arrives for the Grammy Awards nominations in Los Angeles, California, on December 3, 2008. EPA
  • Taylor Swift, in Kaufman Franco, arrives at the Brit Awards at Earl's Court on February 18, 2009 in London, England. Getty Images
    Taylor Swift, in Kaufman Franco, arrives at the Brit Awards at Earl's Court on February 18, 2009 in London, England. Getty Images
  • Taylor Swift, in a chiffon-sleeved dress, attends the Echo Music Awards at the O2 Arena on February 21, 2009 in Berlin, Germany. Getty Images
    Taylor Swift, in a chiffon-sleeved dress, attends the Echo Music Awards at the O2 Arena on February 21, 2009 in Berlin, Germany. Getty Images
  • Taylor Swift, in Rachel Gilbert, attends the Sydney premiere of '17 Again' on March 11, 2009 in Sydney, Australia. Getty Images
    Taylor Swift, in Rachel Gilbert, attends the Sydney premiere of '17 Again' on March 11, 2009 in Sydney, Australia. Getty Images
  • Taylor Swift, in Kaufman Franco, arrives at the Grammy Awards at the Staples Centre in Los Angeles, California, on January 31, 2010. EPA
    Taylor Swift, in Kaufman Franco, arrives at the Grammy Awards at the Staples Centre in Los Angeles, California, on January 31, 2010. EPA
  • Taylor Swift, in a gold mini, holds her award for 'Album of the Year' at the Academy of Country Music Awards in Las Vegas, Nevada, on April 5, 2009. EPA
    Taylor Swift, in a gold mini, holds her award for 'Album of the Year' at the Academy of Country Music Awards in Las Vegas, Nevada, on April 5, 2009. EPA
  • Taylor Swift, in Roberto Cavalli, attends the Roberto Cavalli show during Milan Fashion Week on September 27, 2010 in Milan, Italy. Getty Images
    Taylor Swift, in Roberto Cavalli, attends the Roberto Cavalli show during Milan Fashion Week on September 27, 2010 in Milan, Italy. Getty Images
  • Taylor Swift, in Roberto Cavalli, attends the Roberto Cavalli party as part of Paris Fashion Week on September 29, 2010 in Paris, France. Getty Images
    Taylor Swift, in Roberto Cavalli, attends the Roberto Cavalli party as part of Paris Fashion Week on September 29, 2010 in Paris, France. Getty Images
  • Taylor Swift, in a lace skater dress, attends BBC Radio 1's Teen Awards at Hammersmith Apollo, on November 14, 2010 in London, England. Getty Images
    Taylor Swift, in a lace skater dress, attends BBC Radio 1's Teen Awards at Hammersmith Apollo, on November 14, 2010 in London, England. Getty Images
  • Taylor Swift, in Collette Dinnigan, arrives at the American Music Awards in Los Angeles, California, on November 21, 2010. EPA
    Taylor Swift, in Collette Dinnigan, arrives at the American Music Awards in Los Angeles, California, on November 21, 2010. EPA
  • Taylor Swift, in Elie Saab, arrives for the Academy of Country Music Awards at the MGM Grand Hotel and Casino in Las Vegas, Nevada, April 3, 2011. EPA
    Taylor Swift, in Elie Saab, arrives for the Academy of Country Music Awards at the MGM Grand Hotel and Casino in Las Vegas, Nevada, April 3, 2011. EPA
  • Taylor Swift, in J Mendel, arrives at the Met Gala in New York on May 2, 2011. EPA
    Taylor Swift, in J Mendel, arrives at the Met Gala in New York on May 2, 2011. EPA
  • Taylor Swift, in Reem Acra, arrives for the American Music Awards held at the Nokia Theatre in Los Angeles, California, on November 20, 2011. EPA
    Taylor Swift, in Reem Acra, arrives for the American Music Awards held at the Nokia Theatre in Los Angeles, California, on November 20, 2011. EPA
  • Taylor Swift, in Zuhair Murad, arrives for the Grammy Awards at the Staples Centre in Los Angeles, California, on February 12, 2012. EPA
    Taylor Swift, in Zuhair Murad, arrives for the Grammy Awards at the Staples Centre in Los Angeles, California, on February 12, 2012. EPA
  • Taylor Swift, in J Mendel, arrives at the MTV Video Music Awards in Los Angeles, California, USA, on September 6, 2012. EPA
    Taylor Swift, in J Mendel, arrives at the MTV Video Music Awards in Los Angeles, California, USA, on September 6, 2012. EPA
  • Taylor Swift, in Elie Saab, attends the Elie Saab show as part of Paris Fashion Week on October 3, 2012 in Paris, France. Getty Images
    Taylor Swift, in Elie Saab, attends the Elie Saab show as part of Paris Fashion Week on October 3, 2012 in Paris, France. Getty Images
  • Taylor Swift, in a scarlet midi, at Westfield London on November 6, 2012 in London, England. Getty Images
    Taylor Swift, in a scarlet midi, at Westfield London on November 6, 2012 in London, England. Getty Images
  • Taylor Swift, in J Mendel, attends the MTV EMAs at Festhalle Frankfurt on November 11, 2012 in Frankfurt, Germany. Getty Images
    Taylor Swift, in J Mendel, attends the MTV EMAs at Festhalle Frankfurt on November 11, 2012 in Frankfurt, Germany. Getty Images
  • Taylor Swift, in Elie Saab, arrives at the Aria Awards at the Sydney Entertainment Centre on November 29, 2012 in Sydney, Australia. Getty Images
    Taylor Swift, in Elie Saab, arrives at the Aria Awards at the Sydney Entertainment Centre on November 29, 2012 in Sydney, Australia. Getty Images
  • Taylor Swift, in a white mini, attends the 40 Principales Awards at Palacio de los Deportes on January 24, 2013 in Madrid, Spain. Getty Images
    Taylor Swift, in a white mini, attends the 40 Principales Awards at Palacio de los Deportes on January 24, 2013 in Madrid, Spain. Getty Images
  • Taylor Swift, in Elie Saab, attends the NRJ Music Awards at Palais des Festivals on January 26, 2013 in Cannes, France. Getty Images
    Taylor Swift, in Elie Saab, attends the NRJ Music Awards at Palais des Festivals on January 26, 2013 in Cannes, France. Getty Images
  • Taylor Swift, in J Mendel, arrives for the Grammy Awards in Los Angeles, California, USA, on February 10, 2013. EPA
    Taylor Swift, in J Mendel, arrives for the Grammy Awards in Los Angeles, California, USA, on February 10, 2013. EPA
  • Taylor Swift, in Elie Saab, attends the Brit Awards at the 02 Arena on February 20, 2013 in London, England. Getty Images
    Taylor Swift, in Elie Saab, attends the Brit Awards at the 02 Arena on February 20, 2013 in London, England. Getty Images
  • Taylor Swift, in J Mendel, attends the Met Gala in New York on May 6, 2013. EPA
    Taylor Swift, in J Mendel, attends the Met Gala in New York on May 6, 2013. EPA
  • Taylor Swift, in a shirt and shorts, at the Capital Summertime Ball at Wembley Arena on June 9, 2013 in London, England. Getty Images
    Taylor Swift, in a shirt and shorts, at the Capital Summertime Ball at Wembley Arena on June 9, 2013 in London, England. Getty Images
  • Taylor Swift, in Herve Leger, arrives at the MTV Video Music Awards at the Barclays Centre in Brooklyn, New York, on August 25, 2013. EPA
    Taylor Swift, in Herve Leger, arrives at the MTV Video Music Awards at the Barclays Centre in Brooklyn, New York, on August 25, 2013. EPA
  • Taylor Swift, in Julien Macdonald, arrives for the American Music Awards held at the Nokia Theatre in Los Angeles, California, on November 24, 2013. EPA
    Taylor Swift, in Julien Macdonald, arrives for the American Music Awards held at the Nokia Theatre in Los Angeles, California, on November 24, 2013. EPA
  • Taylor Swift, in Reem Acra, arrives at Centrepoint's Winter Whites Gala at Kensington Palace in London on November 26, 2013. EPA
    Taylor Swift, in Reem Acra, arrives at Centrepoint's Winter Whites Gala at Kensington Palace in London on November 26, 2013. EPA
  • Taylor Swift, in Carolina Herrera, arrives at the Golden Globe Awards in Beverly Hills, California, on January 12, 2014. EPA
    Taylor Swift, in Carolina Herrera, arrives at the Golden Globe Awards in Beverly Hills, California, on January 12, 2014. EPA
  • Taylor Swift, in Gucci, arrives for the Grammy Awards held at the Staples Centre in Los Angeles, California, on January 26, 2014. EPA
    Taylor Swift, in Gucci, arrives for the Grammy Awards held at the Staples Centre in Los Angeles, California, on January 26, 2014. EPA
  • Taylor Swift, in J Mendel, arrives for the Academy of Country Music Awards at the MGM Grand Garden Arena in Las Vegas, Nevada, on April 6, 2014. EPA
    Taylor Swift, in J Mendel, arrives for the Academy of Country Music Awards at the MGM Grand Garden Arena in Las Vegas, Nevada, on April 6, 2014. EPA
  • Taylor Swift, in Oscar de la Renta, arrives for the Met Gala in New York on May 5, 2014. EPA
    Taylor Swift, in Oscar de la Renta, arrives for the Met Gala in New York on May 5, 2014. EPA
  • Taylor Swift, in Novis, arrives for the Teen Choice Awards at the Shrine Auditorium in Los Angeles, California, on August 10, 2014. EPA
    Taylor Swift, in Novis, arrives for the Teen Choice Awards at the Shrine Auditorium in Los Angeles, California, on August 10, 2014. EPA
  • Taylor Swift, in Sass & Bide, on September 4, 2014 in Hamburg, Germany. Getty Images
    Taylor Swift, in Sass & Bide, on September 4, 2014 in Hamburg, Germany. Getty Images
  • Taylor Swift, in Michael Kors, at the American Music Awards at the Nokia Theatre in Los Angeles, California, on November 23, 2014. EPA
    Taylor Swift, in Michael Kors, at the American Music Awards at the Nokia Theatre in Los Angeles, California, on November 23, 2014. EPA
  • Taylor Swift, in J Mendel, attends the afterparty for the annual Victoria's Secret fashion show at Earls Court on December 2, 2014 in London, England. Getty Images
    Taylor Swift, in J Mendel, attends the afterparty for the annual Victoria's Secret fashion show at Earls Court on December 2, 2014 in London, England. Getty Images
  • Taylor Swift, in Sachin & Babi, attends the Jingle Bell Ball at 02 Arena on December 7, 2014 in London, England. Getty Images
    Taylor Swift, in Sachin & Babi, attends the Jingle Bell Ball at 02 Arena on December 7, 2014 in London, England. Getty Images
  • Taylor Swift, in Elie Saab, arrives for the Grammy Awards held at the Staples Centre in Los Angeles, California, on February 8, 2015. EPA
    Taylor Swift, in Elie Saab, arrives for the Grammy Awards held at the Staples Centre in Los Angeles, California, on February 8, 2015. EPA
  • Taylor Swift, in Julien Macdonald, attends the Elle Style Awards on February 24, 2015 in London, England. Getty Images
    Taylor Swift, in Julien Macdonald, attends the Elle Style Awards on February 24, 2015 in London, England. Getty Images
  • Taylor Swift, in Roberto Cavalli, attends the Brit Awards at the O2 Arena on February 25, 2015 in London, England. Getty Images
    Taylor Swift, in Roberto Cavalli, attends the Brit Awards at the O2 Arena on February 25, 2015 in London, England. Getty Images
  • Taylor Swift, in Balmain, arrives for the Billboard Music Awards at the MGM Grand Hotel and Casino in Las Vegas, Nevada, on May 17, 2015. EPA
    Taylor Swift, in Balmain, arrives for the Billboard Music Awards at the MGM Grand Hotel and Casino in Las Vegas, Nevada, on May 17, 2015. EPA
  • Taylor Swift, in Ashish, arrives for the MTV Video Music Awards at the Microsoft Theatre in Los Angeles, California, on August 30, 2015. EPA
    Taylor Swift, in Ashish, arrives for the MTV Video Music Awards at the Microsoft Theatre in Los Angeles, California, on August 30, 2015. EPA
  • Taylor Swift, in Versace, arrives for the Grammy Awards ceremony at the Staples Centre in Los Angeles, California, on February 15, 2016. EPA
    Taylor Swift, in Versace, arrives for the Grammy Awards ceremony at the Staples Centre in Los Angeles, California, on February 15, 2016. EPA
  • Taylor Swift, in Alexandre Vauthier, arrives for the Vanity Fair Oscars After-Party following the Academy Awards ceremony in Hollywood, California, on February 28, 2016. EPA
    Taylor Swift, in Alexandre Vauthier, arrives for the Vanity Fair Oscars After-Party following the Academy Awards ceremony in Hollywood, California, on February 28, 2016. EPA
  • Taylor Swift, in Louis Vuitton, arrives at the Met Gala in New York on May 2, 2016. EPA
    Taylor Swift, in Louis Vuitton, arrives at the Met Gala in New York on May 2, 2016. EPA
  • Taylor Swift, in Versace, arrives for the Billboard Music Awards at the MGM Grand Garden Arena in Las Vegas, Nevada, on May 20, 2018. EPA
    Taylor Swift, in Versace, arrives for the Billboard Music Awards at the MGM Grand Garden Arena in Las Vegas, Nevada, on May 20, 2018. EPA
  • Taylor Swift, in Balmain, arrives for the American Music Awards at the Microsoft Theatre in Los Angeles, California, on October 9, 2018. EPA
    Taylor Swift, in Balmain, arrives for the American Music Awards at the Microsoft Theatre in Los Angeles, California, on October 9, 2018. EPA
  • Taylor Swift, in Rosa Bloom, at the iHeartRadio Music Awards at the Microsoft Theatre in Los Angeles, California, on March 14, 2019. EPA
    Taylor Swift, in Rosa Bloom, at the iHeartRadio Music Awards at the Microsoft Theatre in Los Angeles, California, on March 14, 2019. EPA
  • Taylor Swift, wearing J Mendel, arrives for the Time 100 Gala at the Lincoln Centre in New York on April 23, 2019. EPA
    Taylor Swift, wearing J Mendel, arrives for the Time 100 Gala at the Lincoln Centre in New York on April 23, 2019. EPA
  • Taylor Swift, in Raisa & Vanessa, arrives for the Billboard Music Awards at the MGM Grand Garden Arena in Las Vegas, Nevada, on May 1, 2019
    Taylor Swift, in Raisa & Vanessa, arrives for the Billboard Music Awards at the MGM Grand Garden Arena in Las Vegas, Nevada, on May 1, 2019
  • Taylor Swift, in Versace, arrives for the MTV Video Music Awards at the Prudential Centre in Newark, New Jersey, on August 26, 2019. EPA
    Taylor Swift, in Versace, arrives for the MTV Video Music Awards at the Prudential Centre in Newark, New Jersey, on August 26, 2019. EPA
  • Taylor Swift, in Julien Macdonald, arrives at the American Music Awards at the Microsoft Theatre in Los Angeles, California, on November 24, 2019. EPA
    Taylor Swift, in Julien Macdonald, arrives at the American Music Awards at the Microsoft Theatre in Los Angeles, California, on November 24, 2019. EPA
  • Taylor Swift, in Etro, arrives for the Golden Globe Awards ceremony in Beverly Hills, California, on January 5, 2020. EPA
    Taylor Swift, in Etro, arrives for the Golden Globe Awards ceremony in Beverly Hills, California, on January 5, 2020. EPA
  • Taylor Swift, in checked Carmen, attends the 2020 Sundance Film Festival in Park City, Utah on January 23, 2020. AFP
    Taylor Swift, in checked Carmen, attends the 2020 Sundance Film Festival in Park City, Utah on January 23, 2020. AFP
  • Taylor Swift, in a floral Oscar de la Renta dress, attends the 63rd Annual Grammy Awards at Los Angeles Convention Centre on March 14, 2021. AFP
    Taylor Swift, in a floral Oscar de la Renta dress, attends the 63rd Annual Grammy Awards at Los Angeles Convention Centre on March 14, 2021. AFP
  • Taylor Swift, in a black Greta Constantine Hockney bodysuit, performs onstage during the 36th Annual Rock & Roll Hall Of Fame Induction Ceremony at Rocket Mortgage Fieldhouse on October 30, 2021. AFP
    Taylor Swift, in a black Greta Constantine Hockney bodysuit, performs onstage during the 36th Annual Rock & Roll Hall Of Fame Induction Ceremony at Rocket Mortgage Fieldhouse on October 30, 2021. AFP
  • Taylor Swift, in a velvet Etro suit, attends the 'All Too Well' premiere in New York City on November 12, 2021. Getty Images
    Taylor Swift, in a velvet Etro suit, attends the 'All Too Well' premiere in New York City on November 12, 2021. Getty Images
MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

Tips on buying property during a pandemic

Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.

While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.

While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar. 

Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.

Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.

Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities. 

Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong. 

Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.

How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

Dates for the diary

To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:

  • September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
  • October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
  • October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
  • November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
  • December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
  • February 2, 2018 Bodytree will host its 4th annual yoga market.

Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital

UAE currency: the story behind the money in your pockets
Karwaan

Producer: Ronnie Screwvala

Director: Akarsh Khurana

Starring: Irrfan Khan, Dulquer Salmaan, Mithila Palkar

Rating: 4/5

The specs: 2018 Mercedes-Benz E 300 Cabriolet

Price, base / as tested: Dh275,250 / Dh328,465

Engine: 2.0-litre four-cylinder

Power: 245hp @ 5,500rpm

Torque: 370Nm @ 1,300rpm

Transmission: Nine-speed automatic

Fuel consumption, combined: 7.0L / 100km

MATCH INFO

First Test at Barbados
West Indies won by 381 runs

Second Test at Antigua
West Indies won by 10 wickets

Third Test at St Lucia
February 9-13

 

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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.”

Other acts on the Jazz Garden bill

Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.

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Updated: May 29, 2023, 9:01 AM