From Arabic calligraphy to tributes to the UAE’s Mission to Mars, the Murals exhibition at Al Qattara Arts Centre in Al Ain reflects on the country’s fast-changing growth.
Presented by the centre to mark its 10-year anniversary, it features 12 artists from the UAE commissioned to explore the country's heritage and history, as well as its embrace of modernity, through large-scale works.
The second exhibition on view is titled Common Ground, which takes a broader look at Gulf history, specifically the links between the UAE and Saudi Arabia.
Seven Emirati artists – Ahmad Saeed Al Areef Al Dhaheri, Ghanem Younes, Khalid Al Tamimi, Maryam Al Suwaidi, Roudha Al Shamsi, Saoud Al Dhaheri, and Sarah Aladayleh – consider the social, cultural and economic commonalities of the two countries, while highlighting the nuances as well.
The range of the works includes installations of textiles, clay, video and mixed media. Common Ground was previously shown at Abu Dhabi’s Cultural Foundation in early 2020, where it was conceived as a response to Saudi prince Sultan bin Fahad’s The Red Palace exhibition.
“For years, we have offered a family-friendly venue where arts and culture can be discovered and practiced by the Abu Dhabi community and visitors to Al Ain,” Ahmed Mohammed Barzaiq, head of Al Qattara Arts Centre, said.
"With these extraordinary works by a variety of talented local artists, we honour the thriving cultural scene of the emirate, and the past, present and future of our great country. The artworks are a must-see, and I invite the public to visit us and enjoy this visual celebration."
Since it was established in 2011, Al Qattara Arts Centre has put together public programming across visual art, film and craft, showcasing artists living and working in the UAE. Apart from its galleries, the centre also has dedicated areas for archaeological and heritage-focused shows and studios for art classes and workshops.
Earlier this year, the centre held a film programme that screened Emirati and Israeli short films. Organised by the Department of Culture and Tourism – Abu Dhabi, which manages the centre, and Image Nation and Jerusalem Sam Spiegel Film & Television School, a total of eight short films were screened as part of the project, including Ostora by Faisal Al Shiryani, Feeding 500 by Rafed Al Harethi, Portrait of my Family by Omri Dekel-Kadosh and Blessed by Prague Benbenisty.
For Ramadan, the centre operates on weekdays from 9am to 4pm and will be closed on Friday and Saturday. Entrance to Al Qattara Arts Centre is free.
More information is at abudhabiculture.ae
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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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4. Tom Dumoulin (NED) Jumbo-Visma, at 14s
5. Tadej Pogacar (SLO) UAE-Team Emirates, at 18s
6. Joao Almeida (POR) UAE-Team Emirates, at 22s
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4.50pm Land Rover – Handicap (TB) Dh95,000 (T) 2,400m
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6pm Jaguar F-Pace SVR – Handicap (TB) Dh87,500 (D) 1,600m
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How to join and use Abu Dhabi’s public libraries
• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.
• Libraries are free to visit and visitors can consult books, use online resources and study there. Most are open from 8am to 8pm on weekdays, closed on Fridays and have variable hours on Saturdays, except for Qasr Al Watan which is open from 10am to 8pm every day.
• In order to borrow books, visitors must join the service by providing a passport photograph, Emirates ID and a refundable deposit of Dh400. Members can borrow five books for three weeks, all of which are renewable up to two times online.
• If users do not wish to pay the fee, they can still use the library’s electronic resources for free by simply registering on the website. Once registered, a username and password is provided, allowing remote access.
• For more information visit the library network's website.
Our family matters legal consultant
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