• Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, visits the Holy See Pavilion at Expo 2020 Dubai. All photos: Ministry of Presidential Affairs
    Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, visits the Holy See Pavilion at Expo 2020 Dubai. All photos: Ministry of Presidential Affairs
  • Sheikh Mohamed is shown exhibits in the Holy See Pavilion.
    Sheikh Mohamed is shown exhibits in the Holy See Pavilion.
  • Sheikh Mohamed inside the Holy See Pavilion, which is named after the governing body of the Roman Catholic Church.
    Sheikh Mohamed inside the Holy See Pavilion, which is named after the governing body of the Roman Catholic Church.
  • Manuscripts, including some dating back to the early ninth century, are among the artefacts on display at the pavilion.
    Manuscripts, including some dating back to the early ninth century, are among the artefacts on display at the pavilion.
  • Sheikh Mohamed is briefed on the exhibits during his tour.
    Sheikh Mohamed is briefed on the exhibits during his tour.
  • Sheikh Mohamed visits the Russian Pavilion.
    Sheikh Mohamed visits the Russian Pavilion.
  • Sheikh Mohamed is shown exhibits inside the Russian Pavilion.
    Sheikh Mohamed is shown exhibits inside the Russian Pavilion.
  • The Russia Pavilion celebrates the country's culture and heritage, as well as its innovations in industry and advanced technology.
    The Russia Pavilion celebrates the country's culture and heritage, as well as its innovations in industry and advanced technology.
  • Sheikh Mohamed bin Zayed visits the Oman Pavilion.
    Sheikh Mohamed bin Zayed visits the Oman Pavilion.
  • Sheikh Mohamed praised all participating nations for enriching the Expo experience.
    Sheikh Mohamed praised all participating nations for enriching the Expo experience.
  • Sheikh Mohamed is shown exhibits inside the Oman Pavilion.
    Sheikh Mohamed is shown exhibits inside the Oman Pavilion.
  • The Oman Pavilion draws inspiration from one of the nation's most beloved natural resources, the frankincense tree.
    The Oman Pavilion draws inspiration from one of the nation's most beloved natural resources, the frankincense tree.

Expo 2020

Sheikh Mohamed bin Zayed visits Holy See pavilion at Expo 2020 Dubai

The Crown Prince of Abu Dhabi also explored the pavilions of Russia and Oman during trip

The National

October 20, 2021

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Follow the latest updates on Expo 2020 Dubai here

Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, toured Expo 2020 Dubai on Wednesday.

Sheikh Mohamed visited the pavilions of Oman and Russia during his visit to the world's fair.

He also explored the Holy See pavilion, which is named after the governing body of the Roman Catholic Church.

One of the many intriguing attractions at Expo, it is home to precious manuscripts more than 1,000 years old that have left the Vatican archives for the first time to be displayed.

One of the manuscripts, which dates to the early ninth century, was written on parchment made from animal skin and displays theories on astronomy written in Arabic.

Sheikh Mohamed was briefed on the treasure trove of fascinating material during his tour.

The pavilion is also home to a recreation of Michelangelo’s The Creation of Adam. The original image adorns the ceiling of the Sistine Chapel in Vatican City.

Themed “Deepening the Connection”, the pavilion underlines the importance of fostering channels of dialogue and fraternal bonds between people of all cultures and religions across the globe.

The pavilion of the UAE's neighbour, Oman, draws inspiration from one of the nation's most beloved natural resources, the frankincense tree.

  • Monsignor Thomasz Trafny, deputy commissioner general of the Holy See Pavilion. All photos: Antonie Robertson / The National
    Monsignor Thomasz Trafny, deputy commissioner general of the Holy See Pavilion. All photos: Antonie Robertson / The National
  • Precious manuscripts more than 1,000 years old have left the Vatican’s secret archive for the first time to be displayed at the Holy See pavilion at Expo 2020 Dubai.
    Precious manuscripts more than 1,000 years old have left the Vatican’s secret archive for the first time to be displayed at the Holy See pavilion at Expo 2020 Dubai.
  • The documents are on show at the Holy See Pavilion, which is named after the governing body of the Roman Catholic Church.
    The documents are on show at the Holy See Pavilion, which is named after the governing body of the Roman Catholic Church.
  • The pavilion is also home to a recreation of Michaelangelo’s 'The Creation of Adam'. The original image adorns the ceiling of the Sistine Chapel in Vatican City.
    The pavilion is also home to a recreation of Michaelangelo’s 'The Creation of Adam'. The original image adorns the ceiling of the Sistine Chapel in Vatican City.
  • This manuscript is believed to have been recovered from the House of Wisdom in Baghdad, a large library established in the eighth century.
    This manuscript is believed to have been recovered from the House of Wisdom in Baghdad, a large library established in the eighth century.

Meanwhile, the Russia pavilion celebrates the country's culture and heritage, its innovations in industry and advanced technology and its future plans for economic prosperity.

Sheikh Mohamed praised all participating nations for enriching the Expo experience as the UAE hosts the landmark event in the Middle East for the first time.

He was accompanied during his trip by Sheikh Hamdan bin Mohamed, Sheikh Mohammed bin Hamad, chairman of Abu Dhabi Airports, Yousef Al Otaiba, Minister of State and the UAE's long-standing ambassador to the US, and Mohamed Al Mazrouei, Undersecretary of the Crown Prince Court of Abu Dhabi.

During his visit to the sprawling site on Wednesday, Sheikh Mohamed held talks with Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai.

The two leaders met in the grand surroundings of the UAE pavilion, described by Sheikh Mohammed as an “architectural masterpiece” with “unique cultural value".

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Company: Justmop.com

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Sector: Technology and home services

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Size: 55 employees and 100,000 cleaning requests a month

Funding:  The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups. 

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Company name: Suraasa

Started: 2018

Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker

Based: India, UAE and the UK

Industry: EdTech

Initial investment: More than $200,000 in seed funding

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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.”

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Updated: October 21, 2021, 6:13 AM