| Iranian carpets weave their magic spell
The first knot of Jalil Hossein-Zadeh's dream carpet was tied in 1972, the last 13 years later. On one of Dawood's walls hangs a collection of old framed photographs of Sheikh Zayed and several notable UAE Royals, along with portraits of Queen Rania of Jordan, and King Mohammed of Morocco standing behind piles of carpets laid out in the company shop. "In this sort of business, very one-of-a-kind, rare pieces of the finest Persian rugs, you are dealing mostly with royalty wherever you are. Persian rugs, once the passion of Ottoman Caliphs and European monarchs, have long been coveted by Middle East families, not just as decorative floor coverings but as assets to be sold in times of economic hardship. There was the opening of his branch in Abu Dhabi, the Iranian Revolution, cash disputes with the weavers and a two-year hiatus when the project was completely halted, not to mention rounds of international trade sanctions with Iran and other geopolitical tensions. At every stage of manufacture, it is almost as if the dream carpet represented Mr Hossein-Zadeh's prosperity and that of his business. And for the millions of knots tied to weave the beautiful and intricate rug there is a similar number of business deals struck between traders of the UAE and its Iranian neighbour. Re-exports to Tehran jumped 29 per cent to $31bn last year, according to Reuters. Even as sanctions tighten over Iran's nuclear ambitions, trade remains and so, too, does Mr Hossein-Zadeh's dream carpet, which today is kept under lock and key until the right buyer is found. "There were occasions when my father wondered why he even began that project, but by then he had invested so much money that he just had to undertake it," says Dawood, Mr Hossein-Zadeh's son, who was a child when the carpet was envisioned and an adult, married with children, by the time it was completed. "Merchants are trying to concentrate on fine, rare antique carpets by 19th century masters to buy to re-import them to Iran," says Ali Al Bayaty, the chief executive of Estuary Auctions based in Abu Dhabi. The carpet, made in the weaving centre of Tabriz city in north-west Iran, has been a backdrop to the struggles of Mr Hossein-Zadeh's Iranian rug trading business, which he has operated in Abu Dhabi since the early 1970s. Those were difficult times. And today he is facing a different set of challenges as sanctions hit Iran's economy. "These carpets are currently inhigh demand. It's the opposite of the days of the 1979 revolution, Dawood says. But it is more than just a rug. The price of a Persian rug has increased by forty per cent in the past 12 months as Iranians inside Iran pour their money in carpets as a haven to hedge against the rapid devaluation of the local currency and subsequent rise in inflation. "Antique rugs from Iran are becoming more expensive and as the economic situation gets worse, you have to spend more to encourage these workers to stay in the field," says Mr Hossein-Zadeh. "I believe, that within the next 10 years, you will stop seeing the commercial trade in rugs in Iran. For many years Dubai has been a re-export hub for Tehran for goods including fruit and nuts, cars and carpets. |
Sunday, 3 June 2012
Iranian carpets weave their magic spell
