As wealth transitions across generations and global markets face rising volatility, art is emerging as both a cultural pursuit and a strategic store of value. For Beaumont Nathan, the independent art advisory that is formally entering the Middle East this autumn with a new office in Abu Dhabi, the region is fast becoming a focal point of this transformation.

The firm has been active in the Gulf for over a decade, but its decision to establish a physical presence reflects a deeper commitment to the market. “Beaumont Nathan has been active in the Middle East for the last ten years, having maintained a number of committed, long-term relationships in which we have advised on both acquisitions and sales,” said co-founder Hugo Nathan. “Embedding ourselves in the region, in close partnership with Lateefa, will allow us to better serve collectors, while positioning the firm at the heart of the UAE’s economic hub.”

Art as resilience in volatile markets

With inflation and portfolio volatility pushing investors to look beyond traditional assets, art has attracted increasing attention. Nathan cautioned, however, against treating it purely as an investment. “While we advise caution when treating art as an investment, collectors are increasingly attuned to commercial profile when making decisions, and often rely on trusted, independent advice to navigate these complexities,” he noted. “We have found that our clients are shifting their focus toward long-term enjoyment and value, with greater appetite for professional advice to ensure their collections are resilient in volatile times.”

This perspective aligns with the UAE’s ambition to be both a financial hub and a cultural powerhouse. According to co-founder Wentworth Beaumont, that dual positioning creates unique opportunities. “We view these ambitions as being very much complementary. The opportunity lies in advising collectors and institutions who want to participate at the highest levels, ensuring total transparency and clarity in decision-making,” he said. “The challenge is in marrying curatorial excellence with commercial rigor, which lies at the core of what we do.”

The next generation reshapes collecting

The “great wealth transfer” is changing collector behaviour globally — and the Middle East is no exception. Beaumont observed that younger collectors are adopting a more pragmatic approach. “The next generation is approaching collecting through a more commercial lens, moving away from speculation and towards long-term durability,” he explained. “With broad and varied tastes, they are shaping demand across a range of categories, with many families needing to reconcile the legacy of their collection with the realities of the future.”

To address this, Beaumont Nathan has launched a family-focused service designed to support cross-generational transitions. “This is why we are formally launching a service tailored specifically to families, which will equip them with informed curatorial opinions, differentiated insights and commercial strategies to enhance, reduce, evolve or divide their collections, and to ensure they retain value into the future,” Beaumont added.

Corporate and institutional demand

At the same time, corporations in the region are increasingly curating art collections as part of brand-building and legacy strategies. Beaumont said the advisory’s approach remains rooted in independence, transparency, and expertise. “Our approach to begin with is about clarity, transparency, passion, and independence. We bring an international and unconflicted perspective rooted in depth of experience across all key areas of the market, from Old Masters to Contemporary,” he explained.

Where corporate clients differ from private collectors is in focus: “Corporate collections are approached with a focus on legacy, identity and values, often balancing the needs of various stakeholders. Meanwhile, private clients are guided toward building meaningful and highly individualized collections for cross-generational enjoyment, often over many years or decades.”

A regional perspective

For newly appointed regional advisor, Lateefa bin Hamoodah, the Gulf’s art ecosystem is entering a new chapter. “The Gulf art scene has been developing for many years, and is now entering a new phase with strong institutions and a vibrant calendar of exhibitions and auctions,” she said. “The region as a whole, and Abu Dhabi in particular, has ambitions to become a best-in-class, international venue for the art market, marrying its global perspective with its rich and diverse cultural heritage.”

Bin Hamoodah’s role will be to connect Beaumont Nathan’s international expertise with the unique character of Gulf collectors. “My role is to help collectors build meaningful, museum-quality collections and navigate today’s global art market, while acting as a bridge between Beaumont Nathan’s international team and the UAE/Gulf region,” she explained. “Through my passion for art, commercial acumen, and personal network – built through various cultural strategy initiatives and involvement in collectors’ circles – I look forward to deepening my relationships with ambitious collectors in the region.”

Looking ahead, she sees the Middle East becoming increasingly central to global art flows. “The Middle East is poised to play a more central role as both a cultural hub and a market for international art. With the world paying greater attention to the region’s institutions, the next decade will see increased global integration,” she said. “Beaumont Nathan aims to be at the forefront of this journey, providing trusted, independent and transparent advisory services to empower collectors – reinforcing the UAE’s positioning as a cultural centre and a meaningful contributor to the global art market.”

Dubai-based luxury lifestyle group FIVE Holdings has secured a $460m revolving credit facility (RCF) to accelerate its global expansion and repay debt ahead of schedule.

The new facility — arranged with Commercial Bank of Dubai, AAIB, and Santander— will allow FIVE to pre-pay its $350m green bond three years before maturity. Following repayment, the group will retain more than $300m in available cash to fuel future investments and move on new opportunities across its portfolio.

Kabir Mulchandani, chairman and CEO of FIVE Holdings, said: “The support of leading global banks for this facility unwaveringly affirms their trust in FIVE Holdings’ vision and financial resilience.”

He added: “Our banking partners, who aligned with our vision as early adopters, have been instrumental in powering FIVE’s growth. At FIVE, we identified early on the transformative power of experiential hospitality — where live gastronomy and high-energy entertainment driven by electronic music converge. This isn’t just a trend; it’s the future of global tourism.”

Expansion plans and financial performance

FIVE plans to invest $500m over the next two years to grow its portfolio in Dubai and Ibiza while entering new markets in the United States and Asia.

The group posted consistent financial growth over the past two years, with revenue rising 28 per cent to $589m in FY 2024 from $462m in FY 2023. EBITDA climbed 17 per cent to $208m over the same period.

For the first half of 2025, revenues increased 21 per cent year-on-year to $298m, while EBITDA rose 24 per cent to $105m.

Strong performance in Dubai and Ibiza

In H1 2025, FIVE’s Dubai hotels generated $177m in revenue, up 24 per cent year-on-year, with EBITDA growing 25 per cent to $73m. Occupancy stood at 85 per cent with a RevPAR of $310 and an average room rate of $363.

F&B revenue reached $36.4m (18 per cent year-on-year growth), while social events brought in $45.3m (12 per cent year-on-year growth). Live events, a new revenue stream, generated $10.6m.

In Ibiza, the Pacha Group, which FIVE acquired in 2023 for €302.5m, reported a 14 per cent rise in revenue to €43.2m in H1 2025. EBITDA surged 26 per cent to €13.1m.

Pacha Nightclub hosted 64 events in Q2, welcoming 222,018 guests — a 25 per cent increase from last year. Destino Five Ibiza achieved an average daily rate of €533 with 84 per cent occupancy, while Pacha Hotel recorded 87 per cent occupancy and a RevPAR of €223, up 76 per cent year-on-year.

Sustainability leadership

FIVE Holdings’ portfolio, valued at over Dhs12bn, includes green-certified properties in Dubai, Zurich and Ibiza. The group’s UAE hotels are powered entirely by renewable electricity and have earned Dubai Sustainable Tourism’s Gold Tier stamp for their contributions to the emirate’s net zero and D33 economic strategy goals.

In Ibiza, Pacha Hotel has been certified as the island’s first and only LEED Platinum hotel. Destino Five Ibiza operates on green power and has reduced water usage by 40 per cent through recycling and conservation initiatives.

Mulchandani said FIVE’s strategy since 2018 has been to lead the evolution of experiential tourism:

“Our positioning today is no accident — it is the result of a bold, forward-thinking strategy conceptualised and executed since 2018.”

Oil prices edged down on Thursday, retreating from the previous session’s seven-week high, as some investors took profits after US stocks closed lower and in anticipation of slower winter demand as well as the return of Kurdish supplies.

Brent futures were down 49 cents, or 0.7 per cent, to $68.82 a barrel at 0825 GMT, while US West Texas Intermediate futures were down 54 cents, or 0.8 per cent, to $64.45 a barrel.

Read more-UAE fuel prices: What will motorists pay in September?

Both benchmarks gained 2.5 per cent on Wednesday to reach their highest since August 1, driven by a surprise drop in US weekly crude inventories and concerns that Ukraine’s attacks on Russia’s energy infrastructure could disrupt supplies.

“We have a generally risk-off market,” said Giovanni Staunovo, commodity analyst at UBS. Two consecutive down days for US stocks are putting pressure on oil prices, he added.

Bearish expectations on supply fundamentals, with more oil expected soon from Iraq and Kurdistan, weighed further.

“The return of Kurdish supplies adds back fears of an oversupply narrative, propelling a pullback in prices that hover near a seven-week high,” said Priyanka Sachdeva, senior market analyst at Phillip Nova.

Oil flows from Iraqi Kurdistan were expected to restart in days after eight oil firms struck a deal on Wednesday with Iraq’s federal and Kurdish regional governments to resume exports.

While some market concerns remain on Russian supply disruptions, Haitong Securities said in a report that another factor behind oil’s resilience was the lack of significant downward pressure from supply–demand fundamentals in recent weeks.

As the peak demand season gradually ends, prices have yet to reflect expectations of mounting oversupply pressures, it added.

Underscoring investor cautiousness on demand, J.P. Morgan analysts said on Wednesday that US air passenger throughput for September indicated only a modest annual increase of 0.2 per cent, a slowdown from growth of 1 per cent in each of the two prior months.

“Likewise, US gasoline demand has started to pull back, mirroring the broader moderation in travel trends,” the analysts said in a report.

Emaar, the developer behind some of Dubai’s most prominent destinations, unveiled Dubai Mansions, its most exclusive residential project to date, aimed at ultra-high-net-worth buyers.

Located adjacent to Dubai Hills Estate, Dubai Mansions will comprise a limited collection of ultra-luxury homes, each measuring 10,000, 15,000 or 20,000 square feet.

The company said the new community is designed to embody space, elegance and prestige, with architecture and design inspired by international benchmarks.

“There’s a kind of luxury that isn’t loud,” Mohamed Alabbar, founder of Emaar, said. “It doesn’t need validation or volume. It comes from authenticity, from knowing that what you’re creating is for people who understand value beyond price. That’s what this community represents.”

Emaar’s Dubai Mansions envisioned as a ‘global address’

The developer described the project as a “masterpiece” in scale, craftsmanship and experience, with expansive plots, façades, world-class interiors and immersive landscaping.

The enclave will sit within reach of Dubai Hills Estate’s wider lifestyle ecosystem, including a golf course, healthcare, schools and Dubai Hills Mall, while offering the privacy of a gated community.

The company said Dubai Mansions is envisioned as a global address with design detail reminiscent of haute couture, translated into architecture, light, space and proportion.

While full details have not yet been disclosed, the developer said the project has already drawn interest among those tracking Dubai’s luxury property market.

Emaar Development has delivered 76,000 residential units since 2002 and has more than 43,500 units under development. The company reported a sales backlog of over Dhs100bn.

Space42, the UAE-based AI-powered space technology company, said it is developing the country’s first sovereign mobility cloud, enabled by Core42’s Sovereign Public Cloud leveraging Microsoft Azure.

The project, announced at the Dubai World Congress, will provide a sovereign-enabled platform dedicated to smart mobility and autonomous systems, hosting services such as HD mapping, telematics, fleet operations, traffic management and digital twins.

Dr Fan Zhu, senior vice president of autonomous mobility at Space42, said: “The UAE has always led in technological innovation, and autonomous mobility is no exception. By building the nation’s first Sovereign Mobility Cloud with Core42 and Microsoft, we are setting a global standard for secure, trusted platforms in mobility and autonomous systems.”

Sherif Tawfik, chief partnership officer – AI & Cloud for Sovereignty at Microsoft, added: “Microsoft Azure delivers the secure, trusted foundation that empowers the UAE’s Sovereign Mobility Cloud. In partnership with G42 we have successfully combined world-class data residency, compliance, and confidential compute capabilities with Insight’s sovereign controls platform to ensure mobility and autonomous systems in the UAE are built on a platform that meets the highest standards for security and trust. This partnership sets a new benchmark for data sovereignty in the region.”

The Sovereign Mobility Cloud is designed to provide trusted infrastructure for mobility data and autonomous systems, enable secure data-sharing across government, industry and research stakeholders, and support intelligent transport initiatives.

Next steps include establishing reference deployments, regulatory sandboxes and test hubs in collaboration with UAE transport authorities, while engaging automotive, technology and academic partners to scale adoption.

Space42 to lead application deployment

Space42 will lead application deployment, regulatory engagement and adoption through pilots, demonstrations and rollouts. Microsoft and Core42 will provide the sovereign-enabled cloud foundation, AI platforms, and data governance frameworks to ensure regulatory compliance and data residency. Microsoft will also offer training, expertise and co-investment to support ecosystem growth.

The initiative builds on prior collaborations. In July 2025, Space42, Microsoft and Esri launched the Map Africa Initiative to create a continent-wide base map. Space42’s geospatial AI platform, GIQ, is also listed on the Microsoft Azure Marketplace.

Space42 has been advancing autonomous mobility in the UAE since 2021 through its TXAI service, which has recorded nearly 600,000 km of autonomous driving and 20,000 passenger trips without incident. The fleet operates across Saadiyat, Yas, Al Maryah and Al Reem Islands, as well as Abu Dhabi Airport.

In addition to robotaxis, the company is developing HD mapping, digital twins and AI-powered fleet operations. Combined with government investment in infrastructure and governance, these efforts are positioning Abu Dhabi as a global hub for intelligent transport.