Index furniture fair in Dubai shines light on local talent

Interior design event Index kicks off today at Dubai World Trade Centre. Decor-shopping, design talks and live craft-making aside, the three-day fair includes a dedicated exhibition for local furniture and lighting designers in collaboration with Tashkeel. The Tanween Collection presents the works of nine artists from Dubai who drew their inspiration from the UAE's culture and heritage. Here are four fixtures we'd love to bring into our homes.

Host by Alya Al Eghfeli

This table lamp captures the movement of the coffee-serving ritual while alluding to the UAE's culture of hospitality. The interactive fixture allows users to control the light intensity by moving a slider in the same direction as coffee is poured. The lamp is the brainchild of Emirati interior designer Al Eghfeli, who was selected to participate in the 16th International Architecture Exhibition of La Biennale Di Venezia last year.

Zea by Hamza Omari

This table lamp, described as a "desert aquarium", is inspired by sand, once an omnipresent entity in domestic spaces. The light source is revealed or concealed based on the ebb and flow of the granules contained within, a trick achieved by using modern parametric CAD technology and rapid prototyping. Canada-born industrial designer Omari designed the first version of Dubai Design Week's Abwab pavilion in 2015.

Insight Out by Myrtille Ronteix

The ceiling light is directly inspired by French artisan designer Ronteix's personal experience in the region. "Insight Out symbolises the mix of my culture and that of the UAE – the warm welcome I've received and the enlightenment it has given me," says the artist. "It is a representation of the fire around which the Bedouins gather to tell stories and share dinner. The lamp has a modern exterior that gently wraps the traditional inner handmade element. When the two outer cylinders are separated, the light switches on, revealing the inner Emirati craftsmanship … the woven palm creations by desert craftswomen, which demonstrate the strong heritage of this land."

Fattoum by Studio Muju

The floor lamp pays homage to Bedouin Sadu weaving, an ancient artform included on Unesco's list of Intangible Cultural Heritage of Humanity, but that is still at risk of dying out. The shade acts as a loom with lengths of yarn stretched and stitched into traditional patterns, giving the visual effect of the weaving process being frozen in time. Studio Muju artists Mentalla Said and Jumana Taha particularly wanted to achieve a juxtaposition of delicate handwoven fabric and raw, rough concrete.

Coral Sun by Zuleika Penniman

The table lamp, originally created for Design Days Dubai 2016, evokes the use of coral rock in the construction of dwellings in the UAE. All the coral rocks have been repurposed from derelict buildings, and no two lamps have the same patterns within. Jeweller Penniman says that the complex web of polyps and colonies in the structure of the rock allowed it to be sliced to a thickness of only a few millimetres. As light passes through the thin slices of coral, the rock appears lace-like, almost translucent.

See these and other pieces of furniture at the Index Exhibition from Tuesday, September 17 to Thursday, September 19, at Dubai World Trade Centre

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The specs

Engine: 6.2-litre V8

Transmission: ten-speed

Power: 420bhp

Torque: 624Nm

Price: Dh325,125

On sale: Now

TEACHERS' PAY - WHAT YOU NEED TO KNOW

Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:

- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools

- average salary across curriculums and skill levels is about Dh10,000, recruiters say

- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance

- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs

- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills

- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month

- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues

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.”

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat

UAE SQUAD FOR ASIAN JIU-JITSU CHAMPIONSHIP

Men’s squad: Faisal Al Ketbi, Omar Al Fadhli, Zayed Al Kathiri, Thiab Al Nuaimi, Khaled Al Shehhi, Mohamed Ali Al Suwaidi, Farraj Khaled Al Awlaqi, Muhammad Al Ameri, Mahdi Al Awlaqi, Saeed Al Qubaisi, Abdullah Al Qubaisi and Hazaa Farhan

Women's squad: Hamda Al Shekheili, Shouq Al Dhanhani, Balqis Abdullah, Sharifa Al Namani, Asma Al Hosani, Maitha Sultan, Bashayer Al Matrooshi, Maha Al Hanaei, Shamma Al Kalbani, Haya Al Jahuri, Mahra Mahfouz, Marwa Al Hosani, Tasneem Al Jahoori and Maryam Al Amri

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