The Yas Marina Hotel designed by Hani Rashid's architectural firm boasts the world's largest programmable LED-lighting display.
The Yas Marina Hotel designed by Hani Rashid's architectural firm boasts the world's largest programmable LED-lighting display.

Design on track



"Driving past Yas Island, I thought it would be beautiful to create something that feels like a mirage on the horizon," says Hani Rashid, the New York-based architect behind the Yas Marina Hotel in Abu Dhabi. The 500-room complex was unveiled last week and is due to open in October. It straddles the capital's Formula 1 racing track and also sits at the mouth of the island's yachting marina. The hotel was designed by Asymptote, one of the world's most progressive design and architecture firms, which was founded by Rashid in 1988 with his wife and fellow architect Lise Anne Couture.

Their previous works have included the HydraPier Pavilion, an elegant glass-and-steel lakeside building in The Netherlands, as well as the advanced trading floor of the New York Stock Exchange, a design that included both physical and virtual elements. Currently under construction is Asymptote's crystalline World Business Center, a 600-metre skyscraper in Busan, South Korea, which is set to become one of Asia's tallest buildings. However, when the 85,000-square-metre Yas Marina Hotel is opened, it will be Asymptote's largest completed project."It's meant to look like billowing sails or cloth, sitting above the dunes of the desert or the sea," says Rashid.

Comprised of two 10-storey towers, the hotel and connecting bridge are entirely covered by a giant netlike "grid shell", which is made up of around 5,600 glass panels. "It's like a diamond glass encasing that flows over the building like a cloud," he says. "Each of the diamond-shaped pieces of glass are set slightly off-angle, so they produce a kind of shimmering skin. The angles of the glass pieces reflect the sky in a very artistic way.

"I wanted something that plays against the light of the sky and the atmosphere of the place," he says. "I didn't just want to design a couple of hotel towers, sitting there like normal buildings. I wanted something almost musical." Rashid is known for more than just his design flair and a metaphor for every occasion. He is also part of a famous family. His younger brother is Karim Rashid, an award-winning industrial designer, known for his love of plastics. With a "democratic" design philosophy, Karim creates interiors, fashion, furniture, lighting and art that is accessible both artistically and financially.

Their late father was also a man with a strong visual sense, the Egyptian abstract painter Mahmoud Rashid. Studying in Paris in the 1960s, Mahmoud fell in love with a teacher from England, where the family originally settled before moving to Canada while the boys and daughter Soraya were still at school. "Coming from two cultures, British and Egyptian, [my father] told me that if I ever went into architecture, I should pay attention to the history and the culture and background of the place where I'm working," says Rashid. "I really don't want to just export American architecture."

Asymptote was originally commissioned to design two contemporary art pavilions in Abu Dhabi by the Guggenheim Foundation for the cultural district of Saadiyat Island. "When we designed the pavilions, I worked hard on trying to produce something that made sense in the region," he says. "I wanted something that has a deeper appeal than superficial aesthetics or artificial history - it couldn't be Disneyland."

After impressing developers with the pavilions, Asymptote was asked to enter a competition by Aldar Properties to design the Yas Island hotel. The architects began studying ancient crafts, jewels and ornamentation from the Middle East in search of inspiration. Aspects of Bedouin culture and desert life were of particular influence to the New York designers. "We took inspiration from beautiful tents and carpets," says Rashid. "We tried to extract from all that history something that would be very contemporary, but at the same time, resonate with something authentic."

In keeping with the Gulf's fondness for customisation and things that shine, the building's grid shell is also fitted with the world's largest programmable LED lighting and image sequence display. On UAE National Day, for example, the 217-metre shell could be illuminated in the colours of the national flag. Fine art will be accommodated in the building, with a new gallery situated in the bridge connecting the hotel's two main towers. It is expected to feature a rotating exhibition of contemporary works. And, of course, no Gulf hotel would be complete without high-end apartments. The giant presidential suites will feature original artworks and exclusive furnishings from New York's Museum of Modern Art. They will also have lap pools, private lifts and a full kitchen.

"Initially, we designed all of the hotel's interiors, but there was some trepidation on the part of the people that would manage them. They wanted something a little more conventional," says Rashid. As a result, the British interior design firm Jestico + Whiles and the New York outfit Richardson Sadeki created much of the hotel's interior. "However, we had some beautiful ideas for the lobbies and the hallways and the ballrooms, which came back to us," he says. "So a lot of the public interiors are by my firm and the rooms are by another."

Perhaps the masterstroke of the building's design is that it is neither wholly modern nor traditional. As well as attempting to incorporate some of the Middle East's historical flavour, Rashid says he was also influenced by the concept of speed and state-of-the-art engineering. "We wanted to combine the spirit of auto racing and the elegance of a Formula 1 car," he says. "It's a statement about land speed and also the freedom of sailing and the power of the wind. The building's skin almost seems to be held up by air."

Rashid says winning the project was a particularly sweet victory for him because of his own interest in motor sport. "I am an avid fan of Formula 1 and I also have a great interest in technology and speed. As a kid I loved rally cars, then when I got to school I began to look at the way cars were formed," he says. "I am also very keen on racing road bikes." The architect says the project was also an opportunity to experiment with new technologies and methodologies, including some of those used to produce the Airbus A380, the largest passenger airliner in the world, and also the luxury Wally yachts.

"A lot of the teaching that I have been doing at universities [including Harvard, Princeton and Columbia] has centred around high performance architecture," he says. "So I even took some of my students to go and see the Renault wind tunnel, which is used for their Formula 1 cars, to see how speed affects design with the assistance of computing." Without state-of-the-art computer modelling, designing the hotel's grid shell would not have been possible: "It could never have been produced five years ago the way we did it without that technology."

With a wide knowledge of art, design and technology, Rashid and his brother seem to be 21st-century renaissance men. But the architect says he and his brother were encouraged to be creative from an early age. "Whereas most kids would be doing more normal things, my dad would make us draw a lot and do mini-exercises to try to make things. "Karim and I grew up with a healthy competition, our father was a fantastic influence on both of us," he says. "In fact, he believed correctly that my brother would work with graphic imagery and that I would be a sculptor, or someone who works with the three-dimensional form. We certainly went in those directions."

Rashid's mother, Joyce, a teacher with literary training, is talked about less than his father. However, the architect believes that her influence on the pair should not be overlooked. "Growing up in a family which included a European-educated Arab painter and a literary British mother made me very focused on aesthetics, but with an intellectual backup," he says. "There were some very interesting conversations between the two when it came to politics, about the West and the East."

However their differences also created conflict, something that Rashid believes was partly responsible for his family's move across the Atlantic. "Both of them were quite uncomfortable in each other's worlds and that's how we ended up in the States," he says. So it is ironic that the unusual mix of perspectives and skills that drove Hani Rashid's family overseas, should also lead him towards a career in architecture, the very thing that has brought him back to the Middle East.

ogood@thenational.ae

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 specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)

At Eternity’s Gate

Director: Julian Schnabel

Starring: Willem Dafoe, Oscar Isaacs, Mads Mikkelsen

Three stars

The specs

Engine: four-litre V6 and 3.5-litre V6 twin-turbo

Transmission: six-speed and 10-speed

Power: 271 and 409 horsepower

Torque: 385 and 650Nm

Price: from Dh229,900 to Dh355,000

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

UAE currency: the story behind the money in your pockets
Cinco in numbers

Dh3.7 million

The estimated cost of Victoria Swarovski’s gem-encrusted Michael Cinco wedding gown

46

The number, in kilograms, that Swarovski’s wedding gown weighed.

1,000

The hours it took to create Cinco’s vermillion petal gown, as seen in his atelier [note, is the one he’s playing with in the corner of a room]

50

How many looks Cinco has created in a new collection to celebrate Ballet Philippines’ 50th birthday

3,000

The hours needed to create the butterfly gown worn by Aishwarya Rai to the 2018 Cannes Film Festival.

1.1 million

The number of followers that Michael Cinco’s Instagram account has garnered.

The Travel Diaries of Albert Einstein The Far East, Palestine, and Spain, 1922 – 1923
Editor Ze’ev Rosenkranz
​​​​​​​Princeton

NO OTHER LAND

Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
UAE currency: the story behind the money in your pockets
The smuggler

Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple. 
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.

Khouli conviction

Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.

For sale

A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.

- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico

- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000

- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950

The specs

Engine: Four electric motors, one at each wheel

Power: 579hp

Torque: 859Nm

Transmission: Single-speed automatic

Price: From Dh825,900

On sale: Now

Queen

Nicki Minaj

(Young Money/Cash Money)