• The Pool of Abraham and Rizvaniye Mosque in the city of Sanliurfa. Turkey's south-eastern cities are home to beautiful architecture. All photos: Getty
    The Pool of Abraham and Rizvaniye Mosque in the city of Sanliurfa. Turkey's south-eastern cities are home to beautiful architecture. All photos: Getty
  • Mevlid-i Halil Camii mosque in Sanliurfa
    Mevlid-i Halil Camii mosque in Sanliurfa
  • The Asi river flowing through Hatay city centre
    The Asi river flowing through Hatay city centre
  • Habibi Neccar Mosque in Hatay
    Habibi Neccar Mosque in Hatay
  • The city of Gaziantep
    The city of Gaziantep
  • A market street in Gaziantep
    A market street in Gaziantep
  • The Haci Yusuf Mosque in Malatya
    The Haci Yusuf Mosque in Malatya
  • Views from Malatya City Centre in Eastern Anatolia
    Views from Malatya City Centre in Eastern Anatolia
  • The inner yard of the Ulu Camii (The Great Mosque) in Diyarbakır
    The inner yard of the Ulu Camii (The Great Mosque) in Diyarbakır

Turkey earthquake before and after: How heritage sites look after devastation


Taylor Heyman
  • English
  • Arabic

Follow the latest on the earthquake in Turkey

Ancient heritage sites have been destroyed by the earthquake that shook Turkey and Syria on Monday morning.

Many buildings in both countries, which host a wealth of archaeological, cultural and historical treasures, have sustained severe damage.

Concerns are growing that a far greater extent of destruction will become visible once rescue parties access cut-off areas.

Turkey's Roman-era Gaziantep Castle was one of the first monuments to be photographed after the earthquake. Initial images showed rubble strewn across the ramparts with a large section of the outer wall destroyed.

Gaziantep is 80km from Kahramanmaras, the earthquake's epicentre. Many parts of the city, which has a population of two million, were levelled by the quake, which has killed more than 5,000 people.

Subsequent images showed most of the complex still standing.

State news agency Anadolu reported damage to the ancient structure's eastern and southern bastions.

The site was used as an observation station in the Hittite Empire, then later built upon by the Romans in the second and third centuries. Byzantine emperor Justinian I expanded the fortifications and built a dry moat.

The building now hosts the Gaziantep Defence and Heroism Panoramic Museum.

The nearby 17th-century Sirvani Mosque also sustained considerable damage, with its dome and eastern wall partially collapsing.

Aftershocks were impeding rescue and conservation attempts.

Yeni Cami Mosque in the centre of Malatya was severely damaged. The mosque was built on the site of the Haciyusuf Mosque, which was destroyed by an earthquake in 1984, the Daily Sabah reported.

It was restored and reopened last year.

Unesco, the UN's cultural agency, said several buildings had collapsed at the Diyarbakir Fortress and Hevsel Gardens Cultural Landscape, a World Heritage site the organisation has described as “an important centre of the Roman, Sassanid, Byzantine, Islamic and Ottoman periods”.

Other places on the World Heritage List not far from the epicentre could also be affected, such as Gobekli Tepe, Nemrut Dag and Tell of Arslantepe.

“Unesco is mobilising its experts to establish a precise inventory of the damage with the aim of rapidly securing and stabilising these sites,” the organisation said.

One ray of hope amid the devastation may be the coming together of international organisations to rebuild and protect cultural heritage, as happened after the 2020 Beirut blast and during the ongoing Ukraine war, Stephen Stenning, the British Council's Global Director of Culture in Action, told The National.

“This natural disaster will create a whole new level of need to look at the intangible cultural heritage of the peoples affected by the earthquake and also the sites and tangible heritage around it. There is more international co-operation on the area of cultural protection than there has been in the past, but there is the need for a lot more in the future.

“Things like this really draw attention and in a way help with that mission of a collective focus on the need to protect cultural heritage.”

Endangered Syrian sites hit again

In Syria, still more destruction.

Unesco said it was “particularly concerned” about the ancient city of Aleppo, which was already on the List of World Heritage in Danger.

Aleppo's Directorate of Archaeology was inspecting the damage to its citadel and other sites in the city. Photos show a wide crack on one of the citadel's towers.

Parts of the building have collapsed and artefacts inside have been damaged. The National Museum has cracks on its outer face.

Parts of the dome of the minaret of the Ayyubid mosque inside the citadel fell away, while the entrance to the fort has been damaged, including the entrance to the Mamluk tower, the Directorate General of Antiquities and Museums said on Facebook.

Aleppo was Syria's prewar commercial centre and considered one of the world's longest continuously inhabited cities, with markets, mosques, caravanserais and public baths, but a brutal siege imposed on rebels left it disfigured.

Even before the earthquake, buildings in Aleppo often collapsed due to poor infrastructure after more than a decade of civil war and little oversight to ensure the safety of new construction projects.

Information was still filtering out of some Syrian governorates, where communications infrastructure was damaged. In Homs, the government said it was aware of the ancient city of Palmyra and damage to the minarets of Qusayr's grand mosque.

In Hama, the historic facades in ancient neighbourhoods such as Bashoura collapsed. Shmemis Castle, site of the building and rebuilding of fortifications since the first century, has also sustained damage.

The original structure was built on top of an extinct volcano. It was first destroyed by an earthquake, then again by Mongol and Tatar forces in 1260 and 1401, respectively. The current site resembles little more than ruins with partially preserved walls, but even these were damaged by Monday's disaster.

Many of the buildings that collapsed or were damaged in the quake had largely survived 12 years of war in Syria.

Turkey and Syria reel from earthquake — in pictures

  • A child being rescued from the rubble in this screengrab obtained from social media, in Bisnia in Syria. Reuters
    A child being rescued from the rubble in this screengrab obtained from social media, in Bisnia in Syria. Reuters
  • A rescued boy is given water in a bottle cap in Hatay, Turkey. Reuters
    A rescued boy is given water in a bottle cap in Hatay, Turkey. Reuters
  • A woman carries a box of food in Kahramanmaras, Turkey. Reuters
    A woman carries a box of food in Kahramanmaras, Turkey. Reuters
  • 'We were screaming for help until people came to help us and they took us to the hospital', said Hamid from Homs who was injured in a building collapse. Matt Kynaston / The National
    'We were screaming for help until people came to help us and they took us to the hospital', said Hamid from Homs who was injured in a building collapse. Matt Kynaston / The National
  • Palestinians attend a vigil to exress solidarity with the people of Turkey and Syria in Khan Yunius in the southern Gaza Strip. AFP
    Palestinians attend a vigil to exress solidarity with the people of Turkey and Syria in Khan Yunius in the southern Gaza Strip. AFP
  • A collapsed building in Hatay, Turkey after a major earthquake struck southern Turkey and northern Syria on February 6. EPA
    A collapsed building in Hatay, Turkey after a major earthquake struck southern Turkey and northern Syria on February 6. EPA
  • A Syrian man cries as he sits on the rubble of a collapsed building in the rebel-held town of Jindayris. AFP
    A Syrian man cries as he sits on the rubble of a collapsed building in the rebel-held town of Jindayris. AFP
  • A man carries a girl who was rescued from the rubble of a collapsed building in Hatay. EPA
    A man carries a girl who was rescued from the rubble of a collapsed building in Hatay. EPA
  • Members of the Turkish community in Berlin gather humanitarian aid. EPA
    Members of the Turkish community in Berlin gather humanitarian aid. EPA
  • A Turkish soldier in front of a collapsed building in Hatay. EPA
    A Turkish soldier in front of a collapsed building in Hatay. EPA
  • The rubble of buildings in the village of Besnaya in Syria's Idlib province. AFP
    The rubble of buildings in the village of Besnaya in Syria's Idlib province. AFP
  • Russian rescuers search for survivors in the town of Jableh in Syria's Latakia province. AFP
    Russian rescuers search for survivors in the town of Jableh in Syria's Latakia province. AFP
  • A photo taken with a drone shows an aerial view over collapsed buildings after an earthquake in Hatay, Turkey. EPA
    A photo taken with a drone shows an aerial view over collapsed buildings after an earthquake in Hatay, Turkey. EPA
  • Destruction in Hatay city centre. AP
    Destruction in Hatay city centre. AP
  • Members of the Turkish community in Berlin collect aid to support victims. Reuters
    Members of the Turkish community in Berlin collect aid to support victims. Reuters
  • An injured man is carried to an ambulance after being rescued from the rubble in Hatay. Reuters
    An injured man is carried to an ambulance after being rescued from the rubble in Hatay. Reuters
  • A man carries an aid box in Hatay. Getty
    A man carries an aid box in Hatay. Getty
  • Bags of wood for fires are distributed in Hatay Turkey. Getty
    Bags of wood for fires are distributed in Hatay Turkey. Getty
  • A man trapped in rubble waits while debris is removed in Hatay. AFP
    A man trapped in rubble waits while debris is removed in Hatay. AFP
  • Residents look for their relatives in Hatay. AFP
    Residents look for their relatives in Hatay. AFP
  • Rescuers look for survivors under the rubble of collapsed buildings in Kahramanmaras, close to the quake's epicentre. AFP
    Rescuers look for survivors under the rubble of collapsed buildings in Kahramanmaras, close to the quake's epicentre. AFP
  • Emergency personnel search for victims at the site of a collapsed building in the city of Iskenderun. EPA
    Emergency personnel search for victims at the site of a collapsed building in the city of Iskenderun. EPA
  • Muhammet Ruzgar, five, is carried by rescuers from the site of a damaged building in Hatay. Reuters
    Muhammet Ruzgar, five, is carried by rescuers from the site of a damaged building in Hatay. Reuters
  • A newborn found attached by her umbilical cord to her mother and pulled alive from the rubble of a home in northern Syria receives care at a clinic in Afrin. AFP
    A newborn found attached by her umbilical cord to her mother and pulled alive from the rubble of a home in northern Syria receives care at a clinic in Afrin. AFP
  • Women grieve in Hatay, Turkey. Reuters
    Women grieve in Hatay, Turkey. Reuters
  • Smoke billows at the site of a collapsed building in Iskenderun, Turkey. Getty
    Smoke billows at the site of a collapsed building in Iskenderun, Turkey. Getty
  • An Iraqi plane offloads aid at Damascus airport in Syria. Reuters
    An Iraqi plane offloads aid at Damascus airport in Syria. Reuters
  • Two people cry near rubble in Turkey's Hatay province. Reuters
    Two people cry near rubble in Turkey's Hatay province. Reuters
  • A damaged building in Iskenderun. EPA
    A damaged building in Iskenderun. EPA
  • Rescuers search for survivors at the site of a collapsed building in Iskenderun. EPA
    Rescuers search for survivors at the site of a collapsed building in Iskenderun. EPA
  • Cennet Sucu is rescued from beneath the rubble of collapsed hospital in Iskenderun. Reuters
    Cennet Sucu is rescued from beneath the rubble of collapsed hospital in Iskenderun. Reuters
  • Security forces load Red Crescent aid on to a plane destined for Syria at a military base in Baghdad, Iraq. Reuters
    Security forces load Red Crescent aid on to a plane destined for Syria at a military base in Baghdad, Iraq. Reuters
  • People rest next to fire amid the rubble in Hatay, after a 7. 8-magnitude earthquake struck Turkey's south-east. AFP
    People rest next to fire amid the rubble in Hatay, after a 7. 8-magnitude earthquake struck Turkey's south-east. AFP
  • Rescuers board a charter plane in Cologne, Germany, as they head to Turkey to assist in the search for find survivors of the quake. Reuters
    Rescuers board a charter plane in Cologne, Germany, as they head to Turkey to assist in the search for find survivors of the quake. Reuters
  • Injured survivors wait to be treated at a field hospital in Iskenderun,Turkey. Getty
    Injured survivors wait to be treated at a field hospital in Iskenderun,Turkey. Getty
  • Residents of Turkish city Adana gather at the scene of a collapsed building. The death toll in Turkey and Syria has risen to more than 2,000 after the region's strongest quake in nearly a century. AFP
    Residents of Turkish city Adana gather at the scene of a collapsed building. The death toll in Turkey and Syria has risen to more than 2,000 after the region's strongest quake in nearly a century. AFP
  • Residents search for survivors amid the rubble of collapsed buildings in the village of Besnia, in Syria's north-western Idlib province. AFP
    Residents search for survivors amid the rubble of collapsed buildings in the village of Besnia, in Syria's north-western Idlib province. AFP
  • A rescuer carries a Syrian toddler, Raghad Ismail, away from the rubble of a building. Reuters
    A rescuer carries a Syrian toddler, Raghad Ismail, away from the rubble of a building. Reuters
  • Residents wait anxiously as rescue operations take place in Diyarbakir, Turkey. Reuters
    Residents wait anxiously as rescue operations take place in Diyarbakir, Turkey. Reuters
  • Rescue workers search for survivors under the rubble in Diyarbakir. Reuters
    Rescue workers search for survivors under the rubble in Diyarbakir. Reuters
  • Residents search for survivors in Besnia, Syria. AFP
    Residents search for survivors in Besnia, Syria. AFP
  • A Syrian man weeps as he carries the body of his son who was killed in an earthquake in the town of Jandaris. AFP
    A Syrian man weeps as he carries the body of his son who was killed in an earthquake in the town of Jandaris. AFP
  • A wounded man in Jandaris. AFP
    A wounded man in Jandaris. AFP
  • Rescue workers search for survivors in Diyarbakir, Turkey. Reuters
    Rescue workers search for survivors in Diyarbakir, Turkey. Reuters
  • A man carries a girl to safety following the earthquake, in Jandaris, Syria. Reuters
    A man carries a girl to safety following the earthquake, in Jandaris, Syria. Reuters
  • People receive treatment at Al Rahma hospital in the Syrian town of Darkush. AFP
    People receive treatment at Al Rahma hospital in the Syrian town of Darkush. AFP
  • Rescuers carry a girl from a collapsed building, in Diyarbakir, Turkey. Reuters
    Rescuers carry a girl from a collapsed building, in Diyarbakir, Turkey. Reuters
  • A survivor is extracted from the rubble in Diyarbakir. AFP
    A survivor is extracted from the rubble in Diyarbakir. AFP
  • The aftermath of the 7.8-magnitude earthquake on February 6 in Adana, Turkey. Reuters
    The aftermath of the 7.8-magnitude earthquake on February 6 in Adana, Turkey. Reuters
  • Rescuers work near the site of a collapsed building in Hama, Syria. Reuters
    Rescuers work near the site of a collapsed building in Hama, Syria. Reuters
  • Turkish sweet vendors at Dubai Waterfront Market watch earthquake updates on a phone. Victor Besa / The National
    Turkish sweet vendors at Dubai Waterfront Market watch earthquake updates on a phone. Victor Besa / The National
  • Hayri Aggül and Ismet Guven watch the latest news on the disaster. Victor Besa / The National
    Hayri Aggül and Ismet Guven watch the latest news on the disaster. Victor Besa / The National
  • Syrian President Bashar Al Assad (C) leads an emergency cabinet meeting in the capital, Damascus. EPA
    Syrian President Bashar Al Assad (C) leads an emergency cabinet meeting in the capital, Damascus. EPA
  • Hundreds of people were killed as they slept. Abd Almajed Alkarh for The National
    Hundreds of people were killed as they slept. Abd Almajed Alkarh for The National
  • Rescue teams search for survivors in Idlib, Syria. Abd Almajed Alkarh for The National
    Rescue teams search for survivors in Idlib, Syria. Abd Almajed Alkarh for The National
  • Rescue teams look for survivors under the rubble of a collapsed building in the northern Syrian city of Aleppo. AFP
    Rescue teams look for survivors under the rubble of a collapsed building in the northern Syrian city of Aleppo. AFP
  • A desperate search for survivors in Aleppo. AFP
    A desperate search for survivors in Aleppo. AFP
  • Despair in Diyarbakir, south-eastern Turkey. AFP
    Despair in Diyarbakir, south-eastern Turkey. AFP
  • An injured survivor is pulled from the rubble in Diyarbakir. AFP
    An injured survivor is pulled from the rubble in Diyarbakir. AFP
  • Relatives face an anxious wait as emergency teams search for survivors in Diyarbakir. EPA
    Relatives face an anxious wait as emergency teams search for survivors in Diyarbakir. EPA
  • Damage caused by the earthquake in Idlib, north-western Syria. Moawia Atrash for The National
    Damage caused by the earthquake in Idlib, north-western Syria. Moawia Atrash for The National
  • An injured child is plucked from the rubble of a building following the earthquake in rebel-held Azaz, Syria. Reuters
    An injured child is plucked from the rubble of a building following the earthquake in rebel-held Azaz, Syria. Reuters
  • A Syrian Civil Defence team recovering victims of the earthquake in Idlib. Moawia Atrash for The National
    A Syrian Civil Defence team recovering victims of the earthquake in Idlib. Moawia Atrash for The National
  • Tremors were felt as far away as Cyprus, Egypt and Iraq. Moawia Atrash for The National
    Tremors were felt as far away as Cyprus, Egypt and Iraq. Moawia Atrash for The National
  • Destruction in the rebel-held town of Jandaris, Syria. Reuters
    Destruction in the rebel-held town of Jandaris, Syria. Reuters
  • People search through rubble in Diyarbakir, Turkey. Reuters
    People search through rubble in Diyarbakir, Turkey. Reuters
  • A car is smashed up by fallen debris in Azaz. Reuters
    A car is smashed up by fallen debris in Azaz. Reuters
  • Damaged vehicles after the powerful earthquake in Diyarbakir. EPA
    Damaged vehicles after the powerful earthquake in Diyarbakir. EPA
  • Severe damage to a mosque in Malatya, Turkey. AP
    Severe damage to a mosque in Malatya, Turkey. AP
  • Several buildings collapsed, trapping many people underneath the rubble. AP
    Several buildings collapsed, trapping many people underneath the rubble. AP
  • Hospitals in north-eastern Syria were full of injured people. AFP
    Hospitals in north-eastern Syria were full of injured people. AFP
  • An injured man waits for treatment at Bab Al Hawa hospital in Syria's Idlib province. AFP
    An injured man waits for treatment at Bab Al Hawa hospital in Syria's Idlib province. AFP
  • A car is buried underneath the rubble of a collapsed building in Azmarin, a town in Syria's Idlib province. AP
    A car is buried underneath the rubble of a collapsed building in Azmarin, a town in Syria's Idlib province. AP
  • Rescuers search for victims as an ambulance waits. AFP
    Rescuers search for victims as an ambulance waits. AFP
  • An injured child awaits treatment at Bab Al Hawa hospital. AFP
    An injured child awaits treatment at Bab Al Hawa hospital. AFP
  • Rescuers search through the rubble for survivors. EPA
    Rescuers search through the rubble for survivors. EPA
  • The US Geological Survey said the quake began at 4.17am local time. EPA
    The US Geological Survey said the quake began at 4.17am local time. EPA
  • People at the site of a collapsed building. EPA
    People at the site of a collapsed building. EPA
  • The earthquake in Turkey caused widespread destruction. AP
    The earthquake in Turkey caused widespread destruction. AP
  • People gather around a collapsed building in Pazarcik, in Turkey's Kahramanmaras province. AP
    People gather around a collapsed building in Pazarcik, in Turkey's Kahramanmaras province. AP
  • At least 130 buildings collapsed in the Turkish city of Malatya. Reuters
    At least 130 buildings collapsed in the Turkish city of Malatya. Reuters
  • Rescuers search for victims in Diyarbakir. AFP
    Rescuers search for victims in Diyarbakir. AFP
  • Rescuers carry a victim at the site of a collapsed building in Hama, Syria. AFP
    Rescuers carry a victim at the site of a collapsed building in Hama, Syria. AFP
  • Rescuers search for survivors in Hama. AFP
    Rescuers search for survivors in Hama. AFP
  • Rescuers carry a victim pulled out from under the rubble of an eight-storey building. AFP
    Rescuers carry a victim pulled out from under the rubble of an eight-storey building. AFP
  • Damaged buildings in Hama. The aftershocks of the quake were felt in Syria and other neighbouring countries. Reuters
    Damaged buildings in Hama. The aftershocks of the quake were felt in Syria and other neighbouring countries. Reuters
  • A Syrian Civil Defence representative said the situation in the city was catastrophic. Reuters
    A Syrian Civil Defence representative said the situation in the city was catastrophic. Reuters
  • The death toll is expected to rise in Turkey and Syria. Reuters
    The death toll is expected to rise in Turkey and Syria. Reuters
Pox that threatens the Middle East's native species

Camelpox

Caused by a virus related to the one that causes human smallpox, camelpox typically causes fever, swelling of lymph nodes and skin lesions in camels aged over three, but the animal usually recovers after a month or so. Younger animals may develop a more acute form that causes internal lesions and diarrhoea, and is often fatal, especially when secondary infections result. It is found across the Middle East as well as in parts of Asia, Africa, Russia and India.

Falconpox

Falconpox can cause a variety of types of lesions, which can affect, for example, the eyelids, feet and the areas above and below the beak. It is a problem among captive falcons and is one of many types of avian pox or avipox diseases that together affect dozens of bird species across the world. Among the other forms are pigeonpox, turkeypox, starlingpox and canarypox. Avipox viruses are spread by mosquitoes and direct bird-to-bird contact.

Houbarapox

Houbarapox is, like falconpox, one of the many forms of avipox diseases. It exists in various forms, with a type that causes skin lesions being least likely to result in death. Other forms cause more severe lesions, including internal lesions, and are more likely to kill the bird, often because secondary infections develop. This summer the CVRL reported an outbreak of pox in houbaras after rains in spring led to an increase in mosquito numbers.

F1 drivers' standings

1. Lewis Hamilton, Mercedes 281

2. Sebastian Vettel, Ferrari 247

3. Valtteri Bottas, Mercedes 222

4. Daniel Ricciardo, Red Bull 177

5. Kimi Raikkonen, Ferrari 138

6. Max Verstappen, Red Bull 93

7. Sergio Perez, Force India 86

8. Esteban Ocon, Force India 56

Yahya Al Ghassani's bio

Date of birth: April 18, 1998

Playing position: Winger

Clubs: 2015-2017 – Al Ahli Dubai; March-June 2018 – Paris FC; August – Al Wahda

Dengue%20fever%20symptoms
%3Cul%3E%0A%3Cli%3EHigh%20fever%3C%2Fli%3E%0A%3Cli%3EIntense%20pain%20behind%20your%20eyes%3C%2Fli%3E%0A%3Cli%3ESevere%20headache%3C%2Fli%3E%0A%3Cli%3EMuscle%20and%20joint%20pains%3C%2Fli%3E%0A%3Cli%3ENausea%3C%2Fli%3E%0A%3Cli%3EVomiting%3C%2Fli%3E%0A%3Cli%3ESwollen%20glands%3C%2Fli%3E%0A%3Cli%3ERash%3C%2Fli%3E%0A%3C%2Ful%3E%0A%3Cp%3EIf%20symptoms%20occur%2C%20they%20usually%20last%20for%20two-seven%20days%3C%2Fp%3E%0A
MATCH INFO

Uefa Champions League quarter-final, second leg (first-leg score):

Manchester City (0) v Tottenham Hotspur (1), Wednesday, 11pm UAE

Match is on BeIN Sports

German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

War 2

Director: Ayan Mukerji

Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana

Rating: 2/5

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: February 10, 2023, 7:02 PM