SHARJAH // It may not be as ancient as Egypt's pyramids, or attract as many visitors as the Taj Mahal, but fans of Sharjah's Heritage Area say it is every bit as worthy of recognition.
The age-old stories and myths of both the emirate and the country are bound up in its old streets and buildings built of coral and gypsum, but residents say far more needs to be done to keep such stories alive.
"Emiratis have a rich heritage but people have to know this," says Ali Al Abdan, a resident and heritage researcher in the area.
"Draw any comparison between this neighbourhood and Souq Al Waqif in Qatar and you realise immediately that what is required here is good and sustainable marketing to have this neighbourhood with all its historical sites recognised internationally.
One such site is the Souq Al Arsa, one of the neighbourhood's major landmarks.
Built more than 200 years ago, the souq is the oldest in the country and can be seen as an early predecessor of the free zones that continue to drive much of the nation's commerce today.
But while the idea of free trade may have been given a modern twist, the old souq remains much as it always has, selling traditional goods in traditional showrooms.
Antique items made of copper, silver and wood stand beside jewellery, pearls, herbs and dates, while wise old men sit sipping from their cups at the Al Arsa Coffee Shop.
Of a slightly less mature vintage is the Bait Al Naboodah (The House of Al Naboodah). Built in 1845 by the wealthy pearl merchant Obaid bin Eisa bin Ali Al Shamsi - known as Al Naboodah - and covering 1,280 square metres, the 16-room building is a classic example of a traditional Emirati home.
Built around its courtyard are rooms built of coral and gypsum. Its old washroom is referred to as "Al Adab", derived from a term meaning "etiquette".
Its majlis, which has a unique bridge or "sarbatoh", was a meeting place for merchants, sea captains and pearl divers.
Legend says it is home to a "mischievous guardian" who appears as a lady in white carrying two babies and is said to roam the house and vanish when approached.
Then there is Rolla Square, named after the first banyan tree, or "rolla" in Arabic, planted by Sheikh Sultan bin Saqer Al Qasimi in the 19th century. The tree, which grew wide and tall within a couple of years, became a popular shady spot for people waiting on cargo shipments at the nearby port.
Until recently, it was one of the biggest open spaces in the emirate, featuring dozens of banyan trees where locals could take a well-earned rest.
Plans to redevelop the square into a public park at the cost of Dh22million are part of a wider scheme called The Heart of Sharjah which will redevelop the heritage area into the largest of its kind in the Middle East.
The project aims to restore Sharjah to its 1950s heydays and transform it into a tourist and trade destination with "modern contemporary artistic touches".
"The Heart of Sharjah project aims to add attractive points of leisure and tourism that further develop the heritage of our emirate and enhance its position in the region," says Marwan Jassim Al Sarkal, the chief executive of the Sharjah Investment and Development Authority (Shurooq).
Shurooq is working with experts including the International Centre for the Study of the Preservation and Restoration of Cultural Property and the Sharjah Academy for Scientific Research to develop a method of rebuilding old houses that uses traditional techniques but provides extended durability.
The project is being undertaken in five phases scheduled to conclude in 2025. Phase one of the Old Town renovation, scheduled for completion in 2013, includes work at the Sharjah Art Foundation, rebuilding the Al Shanasiah Souq and making modifications along the Corniche.
This phase also involves rebuilding residences near Al Hisn Sharjah Fort, which once housed the emirate's ruling family, redeveloping the houses behind the Al Zahraa Mosque in Al Muraijah, and the conversion of the Al Midfaa family home into a hotel.
At the same time, many other old houses will be converted into hotels, museums, retail shops and restaurants.
Slowly, but surely, it's hoped that the work can finally succeed in bringing Sharjah Heritage Area the recognition it deserves.
ykakande@thenational.ae
THE BIO
Favourite author - Paulo Coelho
Favourite holiday destination - Cuba
New York Times or Jordan Times? NYT is a school and JT was my practice field
Role model - My Grandfather
Dream interviewee - Che Guevara
Global state-owned investor ranking by size
|
1.
|
United States
|
|
2.
|
China
|
|
3.
|
UAE
|
|
4.
|
Japan
|
|
5
|
Norway
|
|
6.
|
Canada
|
|
7.
|
Singapore
|
|
8.
|
Australia
|
|
9.
|
Saudi Arabia
|
|
10.
|
South Korea
|
More coverage from the Future Forum
The biog
Hometown: Cairo
Age: 37
Favourite TV series: The Handmaid’s Tale, Black Mirror
Favourite anime series: Death Note, One Piece and Hellsing
Favourite book: Designing Brand Identity, Fifth Edition
Dubai World Cup factbox
Most wins by a trainer: Godolphin’s Saeed bin Suroor(9)
Most wins by a jockey: Jerry Bailey(4)
Most wins by an owner: Godolphin(9)
Most wins by a horse: Godolphin’s Thunder Snow(2)
Heather, the Totality
Matthew Weiner,
Canongate
Unresolved crisis
Russia and Ukraine have been locked in a bitter conflict since 2014, when Ukraine’s Kremlin-friendly president was ousted, Moscow annexed Crimea and then backed a separatist insurgency in the east.
Fighting between the Russia-backed rebels and Ukrainian forces has killed more than 14,000 people. In 2015, France and Germany helped broker a peace deal, known as the Minsk agreements, that ended large-scale hostilities but failed to bring a political settlement of the conflict.
The Kremlin has repeatedly accused Kiev of sabotaging the deal, and Ukrainian officials in recent weeks said that implementing it in full would hurt Ukraine.
UAE currency: the story behind the money in your pockets
Key features of new policy
Pupils to learn coding and other vocational skills from Grade 6
Exams to test critical thinking and application of knowledge
A new National Assessment Centre, PARAKH (Performance, Assessment, Review and Analysis for Holistic Development) will form the standard for schools
Schools to implement online system to encouraging transparency and accountability
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 bio
Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.
Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.
Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.
Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.
Uefa Nations League: How it works
The Uefa Nations League, introduced last year, has reached its final stage, to be played over five days in northern Portugal. The format of its closing tournament is compact, spread over two semi-finals, with the first, Portugal versus Switzerland in Porto on Wednesday evening, and the second, England against the Netherlands, in Guimaraes, on Thursday.
The winners of each semi will then meet at Porto’s Dragao stadium on Sunday, with the losing semi-finalists contesting a third-place play-off in Guimaraes earlier that day.
Qualifying for the final stage was via League A of the inaugural Nations League, in which the top 12 European countries according to Uefa's co-efficient seeding system were divided into four groups, the teams playing each other twice between September and November. Portugal, who finished above Italy and Poland, successfully bid to host the finals.
