On Saturday, the Venice Architectural Biennale returns with a striking theme, challenging participants to imagine what the future might hold. The UAE has returned for a fifth time, with a project inspired by the Hajar mountains, exploring how arid climates can be reimagined as sources of abundance.
The La Biennale di Venezia, also known as the Venice Biennale, is a long-established platform for the arts, dating back to 1895. Since then, the festival has grown to include elements of music, cinema, theatre and dance. In 1980, the first International Architecture Exhibition officially took place and has since been held every other year. The event has become an important platform for architects to display their solutions to humanistic and technological issues affecting contemporary society.
The UAE, which has over the years developed a distinct and evolving architectural identity, first joined international architects and pavilions at the 14th edition of the Venice Architecture Biennale in 2014. The debut national pavilion for the UAE, Lest We Forget: Structures of Memory in the United Arab Emirates was created in response to the theme, Absorbing Modernity: 1914-2014.
Curated by Michele Bambling in collaboration with the research team of architects Adina Hempel and Marco Sosa, the UAE’s first official offering to the biennale presented an archive of architectural and urban development in the UAE.
With a strong emphasis on the 1970s and1980s, the exhibition examined how public and residential architecture, built within the rapid expanding urban context of the country, shaped and established the UAE’s architectural language and its emergence on the international stage.
The exhibition featured pull-out drawers, in a large dark room, for viewers to examine. The drawers contained detailed drawings and photographs of the UAE’s architectural history.
It was one of the first instances where an international audience was able to see and understand the UAE’s architectural history beyond the image of a country whose glass sky scrapers rose in the middle of the desert seemingly overnight.
Since 2014, the UAE has actively presented its architectural perspective at the biennale in thorough, relevant and nuanced exhibitions. In 2016, the UAE presented Transformations: The Emirati National House, curated by Yasser Elsheshtawy, author and at the time associate professor of architecture at UAE University. The exhibition explored the transformative aspect of the housing model of Emirati national homes, known as Sha’abi’ [folk] houses.
Lifescapes Beyond Bigness was the UAE’s National Pavilion exhibition in 2018. The exhibition highlighted the play between built environments and informal social life, based on scenes of everyday life in the UAE – through four human-scale urban landscapes that included images, technical drawings, maps and three-dimensional models.
Due to Covid-19, the 2020 edition of the Venice Biennale was postponed to the following year. The 2021 exhibition, curated by Wael Al Awar and Kenichi Teramoto, was entitled Wetland and presented an environmentally friendly, salt-based cement alternative capable of reducing the construction industry’s impact on the climate.
Wetland won the Golden Lion Award for Best National Participation that year and was described by the Biennale jury as, “a bold experiment that encourages us to think about the relationship between waste and production on a local and global scale and opens us to new construction possibilities between craft and high technology".
This year's Venice Biennale runs from Saturday until November 26, and the UAE Pavilion is curated by Faysal Tabbarah, associate dean and associate professor of architecture at the American University of Sharjah.
MATCH INFO
Manchester City 4 (Gundogan 8' (P), Bernardo Silva 19', Jesus 72', 75')
Fulham 0
Red cards: Tim Ream (Fulham)
Man of the Match: Gabriel Jesus (Manchester City)
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Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Museum of the Future in numbers
- 78 metres is the height of the museum
- 30,000 square metres is its total area
- 17,000 square metres is the length of the stainless steel facade
- 14 kilometres is the length of LED lights used on the facade
- 1,024 individual pieces make up the exterior
- 7 floors in all, with one for administrative offices
- 2,400 diagonally intersecting steel members frame the torus shape
- 100 species of trees and plants dot the gardens
- Dh145 is the price of a ticket
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What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
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MATCH INFO
Uefa Champions League, last 16, first leg
Ajax v Real Madrid, midnight (Thursday), BeIN Sports
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Winners
Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)
Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)
Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)
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Vicky López (Barcelona / Spain)
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Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)
Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)
Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)
Women’s Coach of the Year
Sarina Wiegman (England)
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.”