UAE Cinemas have started offering sensory-adapted film screenings for children with autism and other sensory-processing disorders.
On the last Saturday of every month, Vox Cinemas across Abu Dhabi, Dubai and Sharjah will screen children’s films at a lower light and sound level to accommodate those who can feel overwhelmed by sensory stimuli.
“We observed that families with autistic children were facing challenges in taking their kids to cinemas, and the sensory screenings were a by-product of an effort to bridge this gap,” says Michelle Walsh, chief operating officer of Majid Al Futtaim Cinemas, which operates Vox Cinemas in the UAE.
Vox consulted child experts and autism centre teams to ascertain the specific light and sound levels at which most children on the sensory-processing disorder spectrum can safely process it – people with sensory-processing disorders are affected more keenly, either becoming emotionally agitated or physically sick from an overload. This can include sensory stimuli that many would not notice: keeping the cinema lights half-on, for example, reduces the screen glare, which causes discomfort for some children.
Because many of these disorders exist on a spectrum, or are only recently being recognised, it can be difficult for those suffering from them to receive adequate support or for their carers to receive advice. Walsh says the reaction has been “overwhelming”.
“We have regular visitors who come in every month, and children who leave feeling excited, happy, and cared for,” she says.
When I visited, to see Small Foot, a film about Yetis and humans learning to trust one another, the cinema was semi-full. Some of the audience were families taking advantage of the 12pm time slot, and others came in with children in wheelchairs. I spoke to one of these families: two sisters who were accompanying their brother, Khalid Al Nuaimi. One of the sisters, 18 years old, told me, he has Coffin-Lowry syndrome, a genetic disorder that results in cognitive and physical impairment.
“We come every month,” she said. “Five years ago, we tried coming to the cinema, but he got scared and didn’t want to go again.”
They said they were grateful for the opportunity he was given to enjoy the movies.
The programme began three months ago, and was developed out of a “Sunday Funday” programme that Vox Cinemas has run since 2000, when autism centres bring their children to the cinemas for exclusive screenings. Vox also hold sensory-adapted screenings in Bahrain, Oman, Lebanon and Kuwait.
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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.”
