RENEWABLE LEAP

The UAE is earning greater recognition as a leader in the global renewable energy market. It was Masdar’s mid-January announcement that it would build a $6 billion 5 gigawatt solar plant backed with more than 19 GW of battery storage – the largest such project ever attempted – that captured world attention, the Financial Times reports. “This will transform renewable energy into baseload energy,” Masdar Chairman Sultan Al Jaber said at the time. As the UAE was revealing its new solar project, the FT notes, Saudi Aramco announced a joint venture that it would start producing lithium, a key ingredient for batteries, as early as 2027.

LEAVING LEBANON

After expressing interest in channeling new investments to Lebanon, Dubai’s Al Habtoor Group said it’s pulling out of the battle-scarred country. Khalaf Ahmad Al Habtoor, founder of Dubai’s Al Habtoor Group, said today he had canceled all planned investments in Lebanon and will sell all his properties there because of its continuing instability – despite the extension of a Hezbollah-Israel ceasefire, Reuters reports. “These decisions were not made lightly, but rather are the result of careful study and in-depth monitoring of the situation there,” Al Habtoor said in a post on X. The Al Habtoor Group is a multi-billion-dollar global conglomerate with interests ranging from luxury hotels to shopping malls and about $1 billion of investments in Lebanon.

Public Investment Fund: Saudi Arabia’s STC Group, which is majority-owned by the PIF, announced an $8.7 billion contract to build, operate, and provide telecom infrastructure services for a government entity over 18 months, followed by 15 years of operations, without disclosing the entity’s identity, Reuters reports.

Investcorp: Daniel Lopez-Cruz is rejoining Mubadala-backed Investcorp as Global Head of Private Equity, just over a year after he left to set up an advisory firm.

Mubadala: Danat Al Emarat Hospital for Women & Children, part of the Mubadala-backed M42 healthcare group, is establishing a partnership with UK-based ProFaM to perform innovative ovarian tissue cryopreservation, enabling women to preserve their fertility and delay menopause.

🏡 At Home Abroad: Abu Dhabi-based Eagle Hills Properties, which is owned by Dubai developer Mohamed Alabbar, is deepening its international property portfolio with a $6 billion plan to build residential communities in the nation of Georgia, Bloomberg reports.

🏭 Power Plant: Morocco’s water and electricity utility ONEE plans to build a $420 million gas-fired power plant, financed with loans from Attijariwafa Bank and Bank of Africa.

🇹🇷 Arms Supplier: Turkey’s government hopes to reach a $6 billion deal to sell arms to Saudi Arabia that could see the kingdom buy warships, tanks and missiles, Bloomberg reports.

✈️ Fly Egypt: The Egyptian Ministry of Finance granted EgyptAir Holding Company approximately $648 million to develop its air fleet to 125 aircraft over the next five years from 65 jets.

💸 Sustainable Money: Borouge, a joint venture between ADNOC and Borouge Australia, has signed four agreements valued at over $100 million to provide solutions focusing on sustainability, improved recyclability, and enhanced packaging performance.

🇸🇦 Tourist Hub: Saudi Arabia’s Asir region wants to attract an additional $5.3 billion in private investments as it transforms into a year-round tourism hub, nearing its goal of 9.1 million annual visitors by 2030.

🌐 Chip Trip: Amazon’s top executives visited the company’s R&D center in Haifa, Israel, over the past week, with Amazon CEO Andy Jassy and AWS CEO Matt Garman meeting managers and employees at the chip development facility, Calcalist reports.

🖥️ Smarter Kids: Egypt’s EYouth is teaming up with Singapore-based EDT& Partners in a $6 million program to help 1 million young people in Africa and the Middle East develop tech skills, in areas including AI, programming, data analysis and digital marketing.

🛎️ Luxury Place: Hyatt will open its first hotel in AlUla through a management agreement between a Hyatt affiliate and the Royal Commission for AlUla.

𖥂 Air Mail: U.S. drone delivery firm Matternet has received approval to operate its M2 drone in Saudi Arabia, making it the first operator to receive approval in the Kingdom.

UAE President Sheikh Mohamed bin Zayed held a meeting with Georgian Prime Minister Irakli Kobakhidze, who is on a working visit to the UAE, at Qasr Al Shati.

Saudi Energy Minister Prince Abdulaziz bin Salman held talks on Monday in Riyadh with his Iraqi and Libyan counterparts, Hayan Abdel-Ghani and Khalifa Abdulsadek, on efforts to support the stability of global energy markets, Reuters reports. 

Sheikh Abdullah bin Zayed, UAE Deputy Prime Minister and Minister of Foreign Affairs, received Dr. Subrahmanyam Jaishankar, External Affairs Minister of India in Abu Dhabi on Tuesday.

Khaled Abdel Ghaffar, Egypt’s Deputy Prime Minister and Minister of Health and Population, met with Jalila bint Sayed Jawad, Bahrain’s Minister of Health, during the Arab Health Expo conference in the UAE. 

Amr Talaat, Egypt’s Minister of Communications and Information Technology, is looking to explore ways to attract French investment into Egypt’s growing ICT sector.

Khaled Al-Obaidli, President of Qatar’s Real Estate Regulatory Authority-Aqarat said that the GCC should focus on strengthening sectors such as real estate and tourism to ensure sustainable development.

Jan. 27-30, Dubai. Arab Health. Premier healthcare event where attendees network with global leaders, discuss ground-breaking innovations and seek to shape the future of healthcare. Dubai World Trade Center. 

Jan. 27-28, Riyadh. Private markets in Saudi Arabia and GCC.  Exploring fundraising strategies, value creation and opportunities across private equity, credit and venture capital within Saudi Arabia and the broader Middle East. The Fairmont Hotel.

Jan. 27-29, Abu Dhabi.  TII – Quantum Technology Symposium. The symposium celebrates the UNESCO International Year of Quantum Science and Technology, marking 100 years since the advent of quantum mechanics. Hilton Yas Island, Abu Dhabi.

Jan. 27-30, Miami, Fla. iConnection Miami Alts. Networking event for fund managers and finance industry professions. Miami Beach Convention Center.

Jan. 30, Abu Dhabi. MEVCA Investors Summit. The one-day conference is sponsored by the Middle East Venture Capital Association. ADGM.

Feb. 1-8, Abu Dhabi: Mubadala Abu Dhabi Open. Top women tennis stars compete in WTA 500 tournament. International Tennis Centre, Zayed Sports City.

Feb. 3-6, Dubai. Medlab Middle East 2025. The show attracts exhibitors whether global  giants or emerging startups to discuss digital health solutions. Dubai World Trade Centre.

Feb. 4-5, Doha. Seatrade Maritime Qatar Conference and Exhibition. Conference brings industry experts, decision-makers, shipping companies and leaders in technology, energy, finance and investment. Sheraton Grand Doha Resort.

Feb. 9-12, Riyadh. Leap 2025. Riyadh’s tech event that brings in tech innovators and leading experts from around the world to discover new ideas, build new partnerships, and connect with inspiring mentors and investors. Riyadh Front Expo Centre.

Feb. 11-13, Dubai. World Government Summit 2025. Annual event brings in world leaders and business leaders from the region and outside to discuss the most pressing matters. Madinat Jumeirah.

Feb. 14-16, Munich Security Forum. Known as one of the world’s leading forums for debating international security policy. Hotel Bayerischer Hof.

Feb. 17-21, Abu Dhabi: IDEX 2025. Military contractors from around the world show their wares at one of the most prominent international defense exhibitions. ADNEC Center.

Feb. 17-21, Dubai. Gulf Food. In its 30th edition, the exhibition brings in many more companies to show their work on food and the industry’s use of technology. Dubai World Trade Center. 

Feb. 18-19, Abu Dhabi. The Future of Asset Management Middle East. A two-day conference that gathers leading executives from top asset management companies in the Middle East region. The Ritz-Carlton, Grand Canal.

 Feb. 22-23, Miami, Fla. FII Priority. Saudi Arabia’s Future Investment Initiative connects U.S. and Middle Eastern investors. Faena Hotel & Forum, Miami Beach.

Feb. 25, Dubai. Family Office Summit 2025. Global fund leaders managing $1 trillion in assets will meet under the theme, “Taking Money Out of Cash.” Ritz Carlton Jumeirah Beach