Five winners have been announced for the annual Abraaj Capital Art Prize, donated by the Dubai-based Abaaj Capital Group, a private equity manager. The award is limited to artists from the MENASA region (Middle East, North Africa, South Asia). Each must submit a proposal for a project as part of their application.

This year's group is made up of Vartan Avakian (from Byblos, lives and works in Beirut), Iman Issa (from Cairo, lives and works in Cairo and New Yrok), Huma Mulji (from Karachi, lives and works in Lahore), Hrair Sarkissian (from Damascus, lives and works in London) and Rayyane Tabet (from Ashqout, lives and works in Beirut). Each artist receives a $100,000 grant and 6 months to complete a proposed project.

Sharjah-based guest curator Murtza Vali has been selected to work with the winning artists on their show and a publication. The new work will be unveiled in March at the Art Dubai fair, after which it will become part of the Abraaj Capital Collection.

This is the fifth year that the Abraaj Capital Group has awarded the ACAP. Previous winners include Kutlug Ataman (Turkey, 2009), Kader Attia (Algeria, 2010) and Wael Shawkey (Egypt, 2012).