Mahmoud Kaabour says his film bridges the Middle East's past and present.
Mahmoud Kaabour says his film bridges the Middle East's past and present.

Film director Kaabour pays tribute to grandmothers everywhere



DUBAI // Mahmoud Kaabour's grandmother, Fatima, lives in an old neighbourhood in Beirut, a lifestyle on the verge of extinction. "She buys her groceries by throwing a hay basket from the window to the vendor," says the film director. "She waves at the nearby welding shop to close down whenever she wants to take a nap." The old family house, where the octogenarian raised her six children and grandchildren, where they celebrated Eid and hid during air raids on Lebanon's capital, is empty now except for her.

Kaabour, whose company, Veritas Films, is a twofour54 partner based in Abu Dhabi, wants to preserve that dying urban history and craft a tribute to his grandmother, and others everywhere. That, as well as preserving the oral history of his deceased grandfather, the violinist whose name the director carries, was the impetus for shooting Teta Alf Marra (Grandma, a Thousand Times). Kaabour, who has lived in the emirates since 2005, is confident that the documentary will appeal to Emiratis who value family traditions, and expatriates who endure a separation that can stretch over years as they toil far away from home.

It also offers a contrasting view of multiple generations. In one scene, Kaabour dons his grandfather's old clothes and fez. In another, he plays his grandfather's decades-old violin improvisations for his grandmother on an iPod. "I think it bridges the past of the Middle East and the present through a very human story, not to mention that affection to grandmothers is quite universal," says Kaabour. "So, regardless of where you're from, I think people will be moved and stimulated to rethink their relation with their grandmothers."

Kaabour, who directed the award-winning documentary Being Osama, about the lives of individuals named Osama living in Canada after the September 11, 2001, terrorist attacks, hopes to finish principal photography for the film this month. Then he plans to hit the festival circuit, pitching the film for the International Documentary Film Festival in Amsterdam and the Dubai Film Festival, with screenings scheduled for September.

Kaabour says his grandmother was eager to be on camera. She had appeared on reportages on the life of his uncle Ahmad Kaabour, a composer who wrote revolutionary songs on Palestine and Lebanon. But Teta is also eager to see her grandson's work. "She told me I hope you are not planning on waiting on it until after I die," he says. Kaabour paid for the film mostly from his own pocket, with a US$15,000 (Dh55,000) grant from Screen Institute Beirut, which will also provide post-production facilities. He never doubted the value or potential for the project, the style of which, he acknowledges, is very experimental.

"Maybe I'm missing that lifestyle," says Kaabour. "Grandmothers are people you see on Christmas, or when you fly back home, on that one day that you have to go see family. Many people among us grew up with their grandparents. It's a tribute." kshaheen@thenational.ae

Water waste

In the UAE’s arid climate, small shrubs, bushes and flower beds usually require about six litres of water per square metre, daily. That increases to 12 litres per square metre a day for small trees, and 300 litres for palm trees.

Horticulturists suggest the best time for watering is before 8am or after 6pm, when water won't be dried up by the sun.

A global report published by the Water Resources Institute in August, ranked the UAE 10th out of 164 nations where water supplies are most stretched.

The Emirates is the world’s third largest per capita water consumer after the US and Canada.

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%20Dual%20synchronous%20electric%20motors%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E660hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E1%2C100Nm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESingle-speed%20automatic%0D%3Cbr%3E%3Cstrong%3ETouring%20range%3A%20%3C%2Fstrong%3E488km-560km%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh850%2C000%20(estimate)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3EOctober%3C%2Fp%3E%0A

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 rules on fostering in the UAE

A foster couple or family must:

  • be Muslim, Emirati and be residing in the UAE
  • not be younger than 25 years old
  • not have been convicted of offences or crimes involving moral turpitude
  • be free of infectious diseases or psychological and mental disorders
  • have the ability to support its members and the foster child financially
  • undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
  • A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

NO OTHER LAND

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

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

Opening Rugby Championship fixtures: Games can be watched on OSN Sports
Saturday: Australia v New Zealand, Sydney, 1pm (UAE)
Sunday: South Africa v Argentina, Port Elizabeth, 11pm (UAE)