The ‘museum of the future’ won’t just be judged on the quality of its art


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Over the next few years, the UAE will become home to three highly anticipated world-class museums – the Louvre Abu Dhabi, the Zayed National Museum and the Guggenheim Abu Dhabi. These destinations promise to transform the cultural offering of the UAE and to attract audiences from all over the world.

With these new museums, the UAE is aiming to compete with world-class institutions in Europe, the United States and elsewhere.

There is great recognition in the region of the importance of culture as a key driver for the service industries and as an exciting offering for the local community.

Culture can transform entire communities and bridge social divides. There is also a belief that culture drives the expansion of creative industries in the region – a belief backed up by the fact that such industries thrive in cities like Berlin and London.

As founder of the inaugural Leading Culture Destinations Awards, I constantly ask myself about the role of museums today. What are consumers looking for? And what do the cultural institutions in the UAE need to do to compete on the global stage?

The entire sector is undergoing transformation. So government bodies and cultural industry executives not only have to answer these questions, but they will also have to work out how museums will impact the socioeconomic landscape of the region.

Partnerships with major international museums such as the Louvre and the Guggenheim will create a world-class curatorial programme in the UAE, but it is essential to reach out to the local art community in order to make that proposition unique.

International blockbuster shows can be seen all around the world, but the local aspect is the part that makes the experience unique for cultural travellers. The French architect Jean Nouvel, who designed the Louvre Abu Dhabi, has also said as much: “A museum should belong to a town and its people and its history”.

Local culture is perhaps the key experience for international travellers to understand the history of the place they visit.

The UAE is in the perfect location to create an intersection between many cultures. In a world of political and social unrest, cultural destinations can be one of the keys to engaging different sections of society and to breaking down existing barriers.

But a revolution within arts and cultural institutions worldwide means they are now not only places to see exhibitions, but also places to socialise and shop in.

For consumers, culture is not just a learning experience, but is also very much a part of their lifestyle.

As well as sell-out exhibitions, the MoMA in New York and the Louvre in Paris now offer great restaurant and shopping destinations, nurturing the social aspect of the museum visit, transforming themselves into social hubs.

In Paris, New York and Berlin, young creative industry professionals go on their lunch breaks to museums to have a bite. Similarly, the Southbank Centre in London, an arts centre on the Thames, offers every year numerous festivals, shops and almost 20 restaurants.

That a museum can turn into a shopping destination becomes clear for any traveller who has been to MoMA around Christmas time, where the queues in the museum shop are as long as in any top department store, offering products with great creativity and artistic storytelling.

Consumers also seek out cultural institutions for their architectural prowess, which the UAE’s new museums promise to compete on, with international architects including Foster + Partners, Frank Gehry and Jean Nouvel designing some of the most anticipated cultural buildings.

Bringing culture to new destinations requires a holistic approach to engage with lifestyle saturated consumers. Museums have a unique opportunity to position themselves in the hearts of travellers since culture rarely goes out of fashion. But the balance of the offering and the willingness to engage with the local community are both key to the success of the museum of the future.

Florian Wupperfeld is co-founder of the online travel guide (leading culturedestinations.com) and the inaugural Leading Culture Destinations Awards, which will be announced next month

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

Seemar’s top six for the Dubai World Cup Carnival:

1. Reynaldothewizard
2. North America
3. Raven’s Corner
4. Hawkesbury
5. New Maharajah
6. Secret Ambition

Info

What: 11th edition of the Mubadala World Tennis Championship

When: December 27-29, 2018

Confirmed: men: Novak Djokovic, Rafael Nadal, Kevin Anderson, Dominic Thiem, Hyeon Chung, Karen Khachanov; women: Venus Williams

Tickets: www.ticketmaster.ae, Virgin megastores or call 800 86 823

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Zidane's managerial achievements

La Liga: 2016/17
Spanish Super Cup: 2017
Uefa Champions League: 2015/16, 2016/17, 2017/18
Uefa Super Cup: 2016, 2017
Fifa Club World Cup: 2016, 2017

Western Region Asia Cup Qualifier

Results

UAE beat Saudi Arabia by 12 runs

Kuwait beat Iran by eight wickets

Oman beat Maldives by 10 wickets

Bahrain beat Qatar by six wickets

Semi-finals

UAE v Qatar

Bahrain v Kuwait

 

MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

MATCH INFO

Syria v Australia
2018 World Cup qualifying: Asia fourth round play-off first leg
Venue: Hang Jebat Stadium (Malacca, Malayisa)
Kick-off: Thursday, 4.30pm (UAE)
Watch: beIN Sports HD

* Second leg in Australia scheduled for October 10

What should do investors do now?

What does the S&P 500's new all-time high mean for the average investor? 

Should I be euphoric?

No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.

So what happened?

It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.

"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."

Should I buy? Should I sell?

Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.

"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.

All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.

Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.

Will the rally last?

No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.

"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."

UAE tour of Zimbabwe

All matches in Bulawayo
Friday, Sept 26 – UAE won by 36 runs
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I

COMPANY%20PROFILE
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