DUBAI MATURES

Dubai’s property market is seductive, but a nagging question persists: When is it going to crash? The answer, according to The Economist, is it may not. Citing data that shows most homebuyers are middle-class migrants seeking better living conditions, business opportunities, and tax advantages, economic stability has increased. The worries “look overblown: demand is sticky, and builders have become more disciplined,” The Economist writes. “The emirate’s property market has at last grown up.”

QATAR TOUCHDOWN

Doha’s Hamad International Airport, the second busiest in the region, plans to increase its annual capacity by nearly 20% using the existing infrastructure. The strategy outlined by Chief Operating Officer Hamad Al-Khater contrasts with its rival Dubai International Airport, which is spending $35 billion on a new terminal to handle 260 million passengers. “We believe we can even fit 75 to 77 million passengers within the current footprint of the airport,” Al-Khater told Bloomberg. “It needs a lot of work, a lot of optimization, but that is our primary goal.” Last year, Doha’s airport handled some 53 million passengers, making it the tenth busiest airport in the world by international traffic, ahead of Bangkok, Madrid and Munich.

Public Investment Fund: Saudi Arabia’s PIF-backed jet leasing firm AviLease is in talks with banks for a debut dollar bond sale of at least $500 million, possibly launching by year-end, Reuters reports.

Abu Dhabi Investment Authority: Sheikh Tahnoon bin Zayed Al Nahyan, ADIA’s Chairman and the UAE National Security Adviser, led a meeting of the sovereign wealth fund’s board on Thursday. Attending the meeting were Sheikh Mansour bin Zayed Al Nahyan, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court; Sheikh Khaled bin Mohamed bin Zayed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council; and ADIA Managing Director Sheikh Hamed bin Zayed Al Nahyan.

ADNOC: XRG, an investment company set up by the UAE’s national oil company, and BlackRock’s Global Infrastructure Partners unit, closed their acquisition of an 11.7% stake in the first phase of the $18 billion Rio Grande liquefied natural gas project in Brownsville, Texas.

MGX: Oracle Corp., private equity firm Silver Lake and  Abu Dhabi’s MGX investment fund will control the largest stake in TikTok’s U.S. business, controlling roughly 45% of the company under a $14 billion deal arranged by the White House to buy the social media platform from China’s ByteDance, CNBC reports.

International Holding Co.: Syed Basar Shueb, CEO of the Abu Dhabi-owned conglomerate, led a company delegation to New York for the U.N. General Assembly that included Mariam bint Mohammed Almheiri, Group CEO of 2pointzero,  IHC’s Chief Strategy and Growth Officer Peter Abraam, International Resources Holding CEO Ali AlRashdi, and Ajay Bhatia, the CEO of Sirius International Holding.

📈Bond Return: Abu Dhabi is selling dollar-denominated bonds again, its first debt sale in more than a year, offering a 3-year note maturing in 2028 and a 10-year note due in 2035.

🚆Rail Upgrade: Morocco signed a 260 million euro contract ($303 million) with Paris-based Alstom to upgrade the country’s Kenitra–Settat railway.

💵 Green Capital: Binghatti Holding, one of the UAE’s fastest-growing real estate developers, raised $500 million through an oversubscribed three-year green sukuk bond offering to fund environmentally friendly projects.

🤝 Reviving Tourism: Syria signed $1.5 billion in contracts and agreements to revive its tourism sector through projects including hotels, resorts, entertainment cities, and historic site restoration.

💰Trade Deals: Saudi Arabia and China signed 42 investment deals worth over $1.7 billion across a range of industries, including smart vehicles, energy, medical devices and minerals at the Saudi-Chinese Business Forum this week in Beijing.

💼 Regional Expansion: Goldman Sachs executives said the investment bank aims to increase dealmaking and financing activity in the Middle East alongside its focus Europe’s infrastructure and M&A revival, as part of broader plans to drive growth outside the U.S., Bloomberg reports.

🏭 Wastewater Deal: Kuwait plans to sign a contract with China in mid-November to build the Gulf state’s largest wastewater treatment plant, Reuters reports.

🛢️Oil Exports: Iraq’s federal government and the Kurdistan region have agreed to end years of disputes by handing over most Kurdish crude to Iraq’s State Oil Marketing Organization for export through the Iraq–Turkey pipeline.

🌍 One Bloc: Saudi Arabia is likely to be the biggest beneficiary of a soon-to-be-approved GCC Unified Visa, which will streamline travel across all six Gulf states and boost the Kingdom’s tourism, business mobility and regional connectivity, Travel and Tour World magazine reports.

Prince Faisal bin Farhan, Saudi Arabia’s Foreign Minister, emphasized the importance of economic cooperation with other countries during  a series of meetings he joined on the sidelines of the U.N, General Assembly, including a gathering of G20 foreign envoys.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defense and Chairman of The Executive Council of Dubai, established the Dubai Civility Committee to be chaired by Mohammad Al Gergawi. The committee is tasked with supporting Dubai’s efforts to enhance its aesthetic ambiance and global image.

Abdulla Bin Touq Al Marri, UAE’s Economy Minister, said a free-trade agreement being negotiated with Canada could double trade between the two countries to $5 billion a year, speaking at a conference in Calgary on Thursday.

Muhammad Sulaiman Al Naqbi, the UAE Consul-General in Shanghai, said during the Digital Economy International Cooperation Matchmaking Conference that exports of electric vehicles from Zhejiang’s Ningbo port to the UAE surged nearly 272.97 % in H1 2025 to $505 million, making the UAE the port’s top export market for EVs.

🎭Comedy Capital: Kevin Hart, Dave Chappelle and Jimmy Carr are among the stars headlining the Riyadh Comedy Festival, which starts today. The event hits the stage with over 50 international comedians performing stand-up, satire, and sketch comedy. Organizers would like Saudi Arabia to be seen as a home for creativity, comedic talent and culture. The festival has generated controversy, however, because of international criticism of the kingdom’s human rights record. 

Sept. 29, Riyadh. Private Credit in Saudi Arabia. Jada Fund of Funds hosts a conference on how emerging asset classes can support private sector growth.

Sept. 30- Oct.1, Abu Dhabi. MENA Investment Congress. Hosted by the CFA Society in the UAE, the event brings together investors to discuss new strategies. Rosewood Hotel.

Sept. 30-Oct. 2, Abu Dhabi. Global Rail and Transport Infrastructure Exhibition and Conference. An international event dedicated to the rail transport sector. ADNEC.

Sept. 30-Oct.2, Dubai. WETEX. The region’s biggest exhibition dedicated to sustainability and clean energy technology. Dubai World Trade Center. 

Oct 1-2, Dubai. World Green Economy Summit. Supporting international cooperation in the face of pressing global challenges. Dubai World Trade Center.

Oct. 2, Dubai. Zawya GCC Capital Markets Forum. Bringing together top executives and financial institutions to discuss the region’s evolving equity and debt markets. Fairmont Dubai.

Oct. 9-15, Abu Dhabi. IUCN World Conservative Congress. A gathering of conservation experts and leaders from around the world. ADNEC.

Oct. 14-16, Dubai. Global Future Council. The event on the Future of Growth convenes senior economists and thought leaders from across academia, business, government and civil society to provide intellectual guidance on new approaches to growth. 

Oct. 27-30, Riyadh. Future Investment Initiative, 9th Edition. Investors, corporate executives, cabinet ministers and political leaders from around the world attend Saudi Arabia’s flagship business conference. King Abdulaziz International Conference Center.

LOOKING AHEAD

Saudi Arabia’s Future Investment Initiative announced some of the headliners for next month’s annual conference, including PIF Governor Yasir Al-Rumayyan, BlackRock CEO Laurence Fink and Aramco President Amin Nasser. Other confirmed speakers include Saudi Minister of Investment Khalid Al-Falih; Bill Ackman, founder and CEO of Pershing Square Capital Management; Jamie Dimon, Chairman and CEO of JPMorgan Chase; Jane Fraser, CEO of Citigroup; Patrick Pouyanne, Chairman and CEO of TotalEnergies; and Ruth Porat, President of Alphabet and Google. Scheduled for Oct. 27-30 at the King Abdulaziz International Conference Center in Riyadh, the FII conference will bring together more than 600 speakers, including heads of state, investors, and corporate executives.

SWEET STAKE

Jordan’s Chocolate Lake Co. is in talks with potential buyers to sell a strategic stake in the company that could turn out to be one of the kingdom’s largest M&A transactions in recent years. The sale could fetch as much as $800 million and Chocolate Lake has hired Rothschild & Co. as an adviser, Bloomberg reports. Known as Chocolake, the privately owned company produces over 600 products, including chocolates, fillings, spreads, sauces, bites and bars. The Amman-based firm’s board has not yet made a final decision on whether to proceed with the sale, the news agency said.

Qatar Investment Authority: Qatar sovereign wealth fund is teaming up with New York-based Blue Owl Capital to finance and invest some $3 billion in data center assets.

Public Investment Fund: English football club Newcastle United, which is backed by the PIF, is in talks with banks about funding a new stadium or the redevelopment of its existing St. James’ Park, Bloomberg reports.

Mumtalakat: Manal AlBayat was appointed CEO of  Edamah, the real estate arm of Bahrain’s sovereign wealth fund. 

ADNOC: The UAE national oil company’s bid to take over German plastics maker Covestro is nearing EU approval after regulators signaled readiness to accept a package of commitments by ADNOC, Bloomberg reports.

G42: Space42, which is backed by Abu Dhabi’s G42, Mubadala and International Holding Co., is developing the UAE’s first “Sovereign Mobility Cloud” with Core42 and Microsoft Azure. 

🏭 Hydrogen Plant: Jolt Green Chemical Industries, a Saudi–Spanish joint venture, signed an agreement with Dyar Al-Safwah Engineering Consultancy to build an electrode factory for green hydrogen at King Salman Energy Park in Saudi Arabia’s Eastern Province.

🕌 Sustainable Sukuk: Abu Dhabi developer Aldar raised $290 million by tapping into its green sukuk Islamic bonds, designating the proceeds for sustainable investment projects.

💰Building Syria: The Saudi Fund for Development and the Qatar Fund for Development jointly committed $89 million to support Syria’s economic recovery. 

💻Tech Investment: Bahrain’s Arcapita Group co-led a $1 billion fundraising round for California-based Figure AI, which makes humanoid robots.

🎾 Padel Tennis: Epic Padel, an Arlington, Va., startup that operates padel tennis courts, raised $10 million in a seed funding round led by NowaisWorld and Stryde Ventures, with participation from 305 Ventures, High Water Venture Partners, Lane Holdings, Off Court Ventures and Silverback Capital Group.

🏦 AI Finance: Tipalti, an Israeli-American fintech startup for processing payments, secured $200 million in debt financing from Hercules Capital, which it plans to invest in AI and global expansion.

🍫 Sweet Stake: Jordan’s Chocolate Lake Co. is in talks with potential buyers to sell a strategic stake in a deal that could value the firm at up to $800 million, Bloomberg reports.

🇸🇦 Wealth Divide: Despite state-led investment across Saudi Arabia, some regions report lagging behind Riyadh as development accelerates, the Financial Times reports.

🛍️ Bergdorf Bidders: Unidentified Middle East sovereign wealth funds are among the bidders for a 49% stake in Bergdorf Goodman, the New York luxury department store, for about $1 billion, the Wall Street Journal reports.

🥗Food Security: Al Ain Farms Group and Dubai’s Food Tech Valley, Dubai’s government-backed food innovation center, will build a large logistics hub, to boost food security, speed up fresh food distribution, and cut emissions.

🩺 Medical School: The American University in Dubai is teaming up with the University of Pennsylvania’s Perelman School of Medicine to establish a medical school in the emirate.

🚆New Metro: Iraq’s cabinet pushed forward with its Najaf-Karbala Metro project, authorizing contracts with Dubai-based Consultant HSS and Malaysia-based HSS Engineering.

UAE President Sheikh Mohamed bin Zayed, attended the unveiling of agreements to develop 13 new residential communities in Abu Dhabi, a $29 billion program to build over 40,000 homes and residential plots for Emirati citizens.

Sheikh Mansour bin Zayed, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court; and Sheikh Maktoum bin Mohammed, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, held a meeting of the General Budget Committee to discuss the UAE’s draft 2026 spending plan.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and Deputy Prime Minister, met withMargus Tsahkna, Minister of Foreign Affairs of the Republic of Estonia, on the sidelines of the U.N. General Assembly to discuss joint initiatives between the two countries.

Nicolas Sarkozy, the former French President, was convicted on one charge of conspiracy in connection with allegations his 2007 winning campaign was covertly funded by millions of euros from Libya’s late Moammar Qaddafi’s regime.

Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, met with Italian Prime Minister Giorgia Meloni on the sidelines of the U.N. General Assembly. 

Abdulatif Al-Meshari, Kuwait’s Housing Minister, urged private developers to help meet demand for homes, citing a backlog of requests that has built up over decades of state-managed housing policies.

Victoria Wyer, a partner at Dentons Capital, has relocated from London to  Dubai to help build the firm’s finance business across the Middle East.

Rajesh Verma was appointed Chief Audit Officer and Nouwaf Alderei was appointed Chief Compliance Officer at Sharjah-based Invest Bank.

Stella Li, Executive Vice President of BYD Group, told Arabian Gulf Business Insight that the Chinese electric vehicle giant plans to move into the UAE’s autonomous mobility market.

🎨 Art tour: Six major works by Vincent Van Gogh, Frida Kahlo, Edvard Munch, Rene Magritte, Paul Gauguin and Camille Pissarro will be exhibited at the Bassam Freiha Art Foundation in Abu Dhabi on Oct. 1–2. The paintings will then travel to London and Paris before heading to Sotheby’s New York, where they will be auctioned in November, The National reports. “Presenting these masterpieces in the Middle East was an opportunity we just couldn’t miss,” said Julian Dawes, head of Impressionist and Modern Art at Sotheby’s.

Sept. 29, Riyadh. Private Credit in Saudi Arabia. Jada Fund of Funds hosts a conference on how emerging asset classes can support private sector growth.

Sept. 30- Oct.1, Abu Dhabi. MENA Investment Congress. Hosted by the CFA Society in the UAE, the event brings together investors to discuss new strategies. Rosewood Hotel.

Sept. 30-Oct. 2, Abu Dhabi. Global Rail and Transport Infrastructure Exhibition and Conference. An international event dedicated to the rail transport sector. ADNEC.

Sept. 30-Oct.2, Dubai. WETEX. The region’s biggest exhibition dedicated to sustainability and clean energy technology. Dubai World Trade Center. 

Oct 1-2, Dubai. World Green Economy Summit. Supporting international cooperation in the face of pressing global challenges. Dubai World Trade Center.

Oct. 2, Dubai. Zawya GCC Capital Markets Forum. Bringing together top executives and financial institutions to discuss the region’s evolving equity and debt markets. Fairmont Dubai.

Oct. 9-15, Abu Dhabi. IUCN World Conservative Congress. A gathering of conservation experts and leaders from around the world. ADNEC.

Oct. 14-16, Dubai. Global Future Council. The event on the Future of Growth convenes senior economists and thought leaders from across academia, business, government and civil society to provide intellectual guidance on new approaches to growth. 

Oct. 27-30, Riyadh. Future Investment Initiative, 9th Edition. Investors, corporate executives, cabinet ministers and political leaders from around the world attend Saudi Arabia’s flagship business conference. King Abdulaziz International Conference Center.

DIAMOND BACKING

Botswana is in talks with the Oman Investment Authority and others to help finance a bid to take majority ownership of De Beers. The government aims to finalize a deal by the end of next month and is continuing talks with Anglo American, which controls 85% of the diamond company, President Duma Boko told Bloomberg. Anglo is seeking to divest its stake as part of a restructuring effort, but has delayed a sale amid weak demand and competition from lab-grown diamonds. The London-listed miner, which wrote down De Beers’ value to $4.9 billion in February, has also attracted interest from other buyers, including Angola. Botswana, which already owns 15% of De Beers, wants to take greater control of the global diamond supply chain in the hope of reviving interest in natural gems, which account for 80% of its export sales.

FLYING TAXIS

Saudi Arabia and China’s Ehang will launch autonomous air taxis in November, marking the first time such aircraft will carry paying passengers in the kingdom, The National reports. Saudi tech company Front End and airport operator Cluster2 have partnered with Ehang to launch the passenger transport and logistics flights. The first flights will be carried out using Ehang’s pilotless two-seat electric air taxi. It comes amid a push for flying taxis among the Gulf’s biggest metropolises, including in Dubai and Abu Dhabi. Archer Aviation held its first test flight over Abu Dhabi in July, just days after California-based Joby Aviation flew over Dubai for the first time.

ADNOC: The Abu Dhabi national oil company’s $14.1 billion takeover of German plastics giant Covestro is edging closer to European Union approval, Bloomberg reports.

Aramco: Talks for Aramco to buy a €1 billion minority stake in the renewable unit of Spanish energy company Repsol have collapsed with no plans to resume, Reuters reports.

Abu Dhabi Investment Authority: ADIA will retain a 10% stake in Sempra Infrastructure Partners after KKR and Canada Pension Plan Investment agreed to buy 45% for $10 billion, implying an equity value of $22 billion.

Qatar Investment Authority: Azerbaijan’s Minister of Economy Mikayil Jabbarov met with Nasser Al Attiyah, Director for Emerging Markets at the QIA, during the Azerbaijan International Investment Forum taking place in Baku.  

🛡️ Defense Production: India’s Tata advanced Systems opened its first overseas plant in Morocco to produce armoured combat vehicles for the Moroccan army.

🩺 Healthcare Move: Egypt’s Premium Healthcare Group plans to establish a Kuwait-based subsidiary, Gulf Medical Investments, with $9.5 million capital to acquire medical labs and clinics as part of its Gulf expansion.

💰 Tighter Pricing: Dubai and Zurich-based VFS Global, which handles visa and consular services, secured a $2 billion loan at lower interest rates than expected.

🏠 Rental Income: Saudi vacation rental platform Gathern is planning an IPO in 2028 after raising $72 million in Series B funding, CEO Latifah Altamimi told Bloomberg.

🏀 Basketball Deal: Abu Dhabi, through its Department of Culture and Tourism and Etihad Airways, signed a four-year deal to become the new title sponsor of EuroLeague Basketball, marking the competition’s first sponsorship change in 15 years.

💼 New Bureau: The World Bank opened a new office in Riyadh to serve as its primary hub for the Middle East, North Africa, Afghanistan and Pakistan.

🏦 Moving Forward: The $25 billion Nigeria-Morocco Gas Pipeline project, expected to deliver gas to 16 African and European countries and benefit 400 million people, is advancing, with the creation of a holding company to oversee financing and construction.

⛽ Gas Output: Global oil majors plan to invest $1.6 billion in Egypt’s gas sector during 2026-2027 to boost output by 510 million cubic feet per day.

UAE President Sheikh Mohamed bin Zayed met with a delegation from the Arab Parliament at Qasr Al Bahr palace in Abu Dhabi on Tuesday. Sheikh Mohamed also met Sheikh Mohammed bin Rashid, UAE Vice President, Prime Minister and Ruler of Dubai, in the presence of Sheikh Mansour bin Zayed, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, on Tuesday.

Sheikh Nahyan bin Mubarak, UAE Minister of Tolerance and Coexistence, received a delegation from the Arab Parliament. Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, offered his condolences to Sheikh Faisal bin Khalid bin Mohammed Al Qasimi on the passing of Sheikh Sultan bin Khalid bin Mohammed Al Qasimi, a member of Sharjah’s royal family. Saudi King Salman and Crown Prince Mohammed bin Salman offered their condolences to Ruler of Sharjah Sheikh Sultan bin Mohammed Al Qasimi.

Reem Al Hashimy, UAE Minister of State for International Co-operation, was named a Goalkeepers Champion by philanthropist Bill Gates for her work in championing and protecting children’s rights.

Alex Chriss, CEO of Paypal, told The National that the company’s $100 million investment to boost digital growth across the Middle East and Africa is a show of long-term interest.

Ahmed Alkhoshaibi, CEO of Arada, told The National that the depressed state of the U.K. real estate market is behind the company’s move to buy 75% of London-based developer Regal.

Majid bin Abdullah Al Kassabi, Saudi Arabia’s Minister of Commerce, said on X that he discussed with Kjetil Vevle, the Norwegian Minister of State for Labor, and Even Tronstad Sagbakken, Minister of State for Fisheries and Ocean Affairs, areas of cooperation between the business sectors.

Andrew Anagnost, President and CEO of Autodesk, told Arab News that sunlight in the GCC and other green energy solutions are key to reducing the environmental impact of data centers.

🏛️ Accessible Museum: The Zayed National Museum will be the first institution in Abu Dhabi to offer tours in Emirati sign language, led by Deaf guides, when it opens in December. Siblings Bader and Shooq Almaskari have been training for their roles as tour guides for the past year and a half, including researching and familiarizing themselves with the museum’s collection, The National reports. “We’ll be talking about the culture and values of the UAE,” Shooq told the newspaper. “It’s something to be proud of.”

Sept. 23-25, Dubai. ArabLab. The Middle East and Africa’s longest-running event dedicated to the laboratory and analytical industry. Dubai World Trade Center. 

Sept. 30- Oct.1, Abu Dhabi. MENA Investment Congress. Hosted by the CFA Society in the UAE, the event brings together investors to discuss new strategies. Rosewood Hotel.

Sept. 30-Oct. 2, Abu Dhabi. Global Rail and Transport Infrastructure Exhibition and Conference. An international event dedicated to the rail transport sector. ADNEC.

Sept. 30-Oct.2, Dubai. WETEX. The region’s biggest exhibition dedicated to sustainability and clean energy technology. Dubai World Trade Center. 

Oct 1-2, Dubai. World Green Economy Summit. Supporting international cooperation in the face of pressing global challenges. Dubai World Trade Center.

Oct. 2, Dubai. Zawya GCC Capital Markets Forum. Bringing together top executives and financial institutions to discuss the region’s evolving equity and debt markets. Fairmont Dubai.

Oct. 9-15, Abu Dhabi. IUCN World Conservative Congress. A gathering of conservation experts and leaders from around the world. ADNEC.

Oct. 14-16, Dubai. Global Future Council. The event on the Future of Growth convenes senior economists and thought leaders from across academia, business, government and civil society to provide intellectual guidance on new approaches to growth. 

Oct. 27-30, Riyadh. Future Investment Initiative, 9th Edition. Investors, corporate executives, cabinet ministers and political leaders from around the world attend Saudi Arabia’s flagship business conference. King Abdulaziz International Conference Center.

CONSTRUCTION IPO

Dubai’s $381 million IPO of ALEC Engineering & Contracting drew full demand across the price range in a show of investor appetite, as the emirate capitalizes on its construction boom. The Investment Corporation of Dubai, the investment arm of the Dubai government and the sole shareholder of ALEC, is selling a 20% stake, giving the builder a valuation of about $1.9 billion. Books were fully covered within hours of opening, Bloomberg reports. Emirates NBD Capital and JPMorgan are leading the sale, alongside Abu Dhabi Commercial Bank and EFG Hermes, with Moelis as independent adviser. ALEC delivers large-scale projects in the Gulf, including airports, energy infrastructure and data centers, having recently won a $1.4 billion contract for Abu Dhabi’s Stargate project.

DIGITAL SYRIA

Mastercard is making a comeback in Syria after 14 years, striking a deal with the Central Bank to help modernize the country’s financial system. The agreement paves the way for digital payment infrastructure and the launch of both local and international bank cards. Analysts say it could be a game-changer, reconnecting Syria with global financial networks after years of isolation. While the deal isn’t binding yet, experts see it as a signal that Damascus is opening the door to international finance, The National reports. The deal comes at a time when Syria’s President Ahmad Al Shara is urging a new chapter in ties with the U.S., telling retired Gen. David Petraeus at the Concordia Summit, held on the sidelines of the U.N. General Assembly, that Syria seeks partnership but cannot endure more sanctions.

💰 Snap Investment: Saudi Arabian billionaire Prince Alwaleed bin Talal has boosted his stake in social media company Snap to 2.8% by purchasing 15.2 million shares worth about $133.5 million, Bloomberg reports.

💵 Shipping Bonds: Oman Investment Bank has successfully arranged the first-ever bond issuance for Sindbad Overseas Group, an Omani conglomerate within the shipping and logistics business, raising $190 million.

🏡 High Stakes: Aldar Properties acquired Modon Holding’s entire 17.45% indirect stake in Aldar Estates, raising its ownership to 82.55% to capitalize on growing demand for property and facilities management services in the UAE.

🪙 Gold Digger: UAE holds about $700 million in bitcoins from mining, cryptocurrency insights platform Arkham Intelligence claims.

💰 Paying Dues: Egypt’s government has repaid nearly $500 million in overdue debt to foreign companies operating its oil fields and plans an additional $620 million payment by the end of 2025 to boost investment and revive gas output, Asharq Business reports.

🤝 Joining Hands: Abu Dhabi-based Orascom Construction and Dutch-listed fertilizer company OCI Global, both backed by Egyptian billionaire Nassef Sawiris, are exploring a cross-border merger to form a global infrastructure and investment platform.

🛢️ Iraqi Oil: UAE-based Dragon Oil, a subsidiary of state-owned ENOC, signed initial agreements with oil services companies operating in Iraq to support its expansion in the country.

✈️ Clear Routes: U.S. aircraft manufacturer Boeing signed an agreement with Saudi Arabia to explore advanced air mobility partnerships.

Saudi Arabia’s King Salman and Crown Prince Mohammed bin Salman offered their condolences and ordered funeral prayers at mosques across the kingdom on Tuesday following the death of Abdulaziz bin Abdullah Al Al-Sheikh, the Grand Mufti of Saudi Arabia. 

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and Deputy Prime Minister, led the country’s delegation to an international conference on the two-state solution, on the sidelines of the 80th session of the U.N. General Assembly in New York. Sheikh Abdullah also met with Jeremiah Maenele, Prime Minister of the Solomon Islands, on the sidelines of UNGA.

Ahmad l-Shara, Syria’s President, met with U.S. Secretary of State Marco Rubio in New York on Monday.

Sultan bin Abdullah Al Anqari, Ambassador of Saudi Arabia to the UAE, told WAM that non-oil trade between Saudi Arabia and the UAE reached US$25 billion during the first half of 2025, a 21.3% increase compared to the same period in 2024.

Abdulla bin Mohammed bin Butti Al Hamed, Chairman of the UAE Media Council, chaired the council’s third meeting of 2025.

Dr. Dalia Al-Yahya, head of the handicraft sector at the Ministry of Culture’s Heritage Commission and General Manager of the Year of Handicrafts, told Arab News that Saudi Arabia’s Year of Handicrafts is a strategic initiative to honor and preserve Saudi Arabia’s rich cultural heritage.

💍 Saudi Sparkle: Saudi Arabian actress and filmmaker Sarah Taibah is featured in a new social media campaign for luxury U.S. jeweler Tiffany & Co. In the advertisement, she wears various pieces from the brand’s HardWear collection as she goes about her day. Taibah found fame with her show “Jameel Jeddan,” which was the first production in the kingdom to be wholly created and starred in by a Saudi woman. She is now working on a romcom which she wrote called “A Matter of Life and Death,” which will star Taibah and Yaqoub Al-Farhan, Arab News reports.

Sept. 23-24, Dubai. MENA EV. Connecting stakeholders in the electric vehicle industry, from early-stage companies and investors to governments and established automakers.The Agenda, Dubai Media City.

Sept. 23-25, Dubai. ArabLab. The Middle East and Africa’s longest-running event dedicated to the laboratory and analytical industry. Dubai World Trade Center. 

Sept. 24, Abu Dhabi. Syria Recovery and Investment Forum – Abu Dhabi Edition. Convening influential business leaders, regional investors, policymakers, and advisory experts to explore practical avenues for engagement in Syria’s recovery. ADNEC. 

Sept. 24, Dubai. Mohammed bin Rashid Leader’s Forum. Bringing together 1,000 key government and private sector leaders to drive transformation in leadership. Dubai World Trade Center. 

Sept. 30- Oct.1, Abu Dhabi. MENA Investment Congress. Hosted by the CFA Society in the UAE, the event brings together investors to discuss new strategies. Rosewood Hotel.

Sept. 30-Oct. 2, Abu Dhabi. Global Rail and Transport Infrastructure Exhibition and Conference. An international event dedicated to the rail transport sector. ADNEC.

Sept. 30-Oct.2, Dubai. WETEX. The region’s biggest exhibition dedicated to sustainability and clean energy technology. Dubai World Trade Center. 

Oct 1-2, Dubai. World Green Economy Summit. Supporting international cooperation in the face of pressing global challenges. Dubai World Trade Center.

Oct. 9-15, Abu Dhabi. IUCN World Conservative Congress. A gathering of conservation experts and leaders from around the world. ADNEC.

Oct. 14-16, Dubai. Global Future Council. The event on the Future of Growth convenes senior economists and thought leaders from across academia, business, government and civil society to provide intellectual guidance on new approaches to growth. 

Oct. 27-30, Riyadh. Future Investment Initiative, 9th Edition. Investors, corporate executives, cabinet ministers and political leaders from around the world attend Saudi Arabia’s flagship business conference. King Abdulaziz International Conference Center.

LONDON CALLING

UAE-based Arada Developments will buy a 75% stake in London residential property developer Regal in a $680 million deal, as it continues its overseas expansion drive. Founded by Saudi Prince Khaled bin Alwaleed, the son of Prince Alwaleed bin Talal, and Sheikh Sultan bin Ahmed Al Qasimi, the Deputy Ruler of Sharjah, Arada made its international debut in Australia last year and is now building 5,000 homes across the state of New South Wales. Regal’s U.K. arm, which will be renamed Arada London, has a development pipeline of 10,000 units across 11 projects in the U.K. That pipeline is expected to triple over the next three years with the new injection of funds. Regal’s projects include Fulton & Fifth in Wembley, a mixed-use residential development with 876 units, of which 40% are categorized as affordable homes.

MOVING CAPITAL

Stride Ventures is entering Saudi Arabia with plans to invest $200 million over the next two years, after leading a $33 million debt financing deal for Riyadh-based fintech Erad. The venture debt firm, which has already provided over $1 billion in credit across India, Southeast Asia and the U.K., plans to lend to a diverse mix of Saudi companies and is already in talks with a construction technology firm for a potential deal, Bloomberg reports. Stride will invest another $50 million in the UAE through its new Gulf-focused fund and plans to deploy $500 million in the region within four years, Bloomberg reports. 

Emirates Global Aluminium, which is owned by Mubadala and Investment Corp. of Dubai, is in talks with Citigroup, Goldman Sachs, Emirates NBD Capital and First Abu Dhabi Bank to arrange a potential IPO in Abu Dhabi and Dubai, Bloomberg reports.

Mubadala: The Abu Dhabi sovereign fund, which is the biggest shareholder in Turkish delivery company Getir, is exploring exiting its Getir stake following a disagreement with the company’s founders, Reuters reports.

Public Investment Fund: Egypt’s Prime Minister Mostafa Madbouly and Saudi Minister of State Issam bin Saad bin Saeed met in Cairo on Sunday to discuss the PIF’s plans to invest further in Egypt through government and private-sector partnerships in tourism, industry and real estate.

Ma’aden: The Saudi mining company Ma’aden, which is majority-owned by the PIF, plans to double gold production and develop a rare earths supply chain as part of a broader expansion strategy, the Financial Times reports.

ADQ: The Abu Dhabi sovereign wealth fund and Azerbaijan Investment Holding signed an agreement during UAE President Sheikh Mohamed bin Zayed’s visit to Baku last week to explore collaboration in financial services.

💊 French Pharma: French pharmaceutical firm BPI signed a $100 million deal with the Saudi Authority for Industrial Cities and Technology Zones, also known as Modon, to establish a factory in Sudair Industrial City, north of Riyadh.

💵 Green Finance: DenizBank, Emirates NBD’s Turkish subsidiary, issued a five-year $270 million green bond — the first of its kind in Turkey.

💰 Increasing Value: Aldar Investment Properties is raising an extra $290 million by adding to its existing green bonds that mature in 2034 and 2035, with pricing expected today.

⛰️ Transfer Land: Saudi developer Dar Al Arkan, along with its partners, has completed the $1.2 billion purchase and transfer of the 1 million-square-meterOrchid land parcel in Jeddah, the city’s largest-ever real estate deal.

☁️ Cloud Cover: Chinese tech giant Tencent plans to establish its first Middle East cloud region in Riyadh as part of a $150 million investment in Saudi Arabia in Saudi Arabia, Arab News reports.

📦 Amazon Hub: Amazon opened its first fulfillment center in Abu Dhabi in partnership with the Abu Dhabi Investment Office to expand logistics capacity, delivery speeds, and product availability in the emirate.

❄ ️ Cooling Breath: UAE district cooling company Tabreed and Irish HVAC company Johnson Controls signed a framework agreement to deploy next-generation cooling technologies within Tabreed cooling plants.

☢️ Nuclear Energy: U.S. nuclear tech developer Last Energy will build a modular nuclear reactor at DP World London Gateway port to power the port’s $1.2 billion expansion.

U.S. President Donald Trump plans to meet leaders of the UAE, Saudi Arabia, Qatar, Egypt, Jordan and Turkey on the sidelines of the U.N. General Assembly in New York on Tuesday, Axios reports.

Qatar’s Emir Sheikh Tamim bin Hamad has left for New York to participate in the U.N. General Assembly.

Sheikh Abdullah bin Zayed, the UAE Foreign Minister, will lead the country’s delegation to the U.N. General Assembly.

Sheikh Mohammed bin Rashid, UAE Vice President, Prime Minister and Ruler of Dubai, said the government will provide business training for 10,000 young Emiratis and promote entrepreneurial skills in a program titled The Emirates: The Startup Capital of the World.”

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and Chairman of the Dubai Executive Council, appointed Abdullah Ahmed Mohammed Saleh Al Shehi as CEO of Dubai’s Real Estate Regulatory Agency.

Egyptian President Abdel Fattah Al Sisi met in Cairo on Sunday with Singapore’s President Tharman Shanmugaratnam to discuss the feasibility of a free trade agreement.

Timmy T. Davis, former U.S. Ambassador to Qatar, has been appointed as President & Partner of Irth Capital Management, the hybrid U.S.–Qatari alternative investment platform co-founded by Qatari royal Sheikh Mohamed bin Abdulla Al Thani and Matthew Bradshaw.

Fawzi Ahmed Kanoo was appointed Group CEO of Yusuf Bin Ahmed Kanoo Holdings, one of the largest family-owned multinational businesses in the Middle East, to succeed the late chairman, Khalid Mohamed Kanoo.

Saif Mohammed Al Midfa, CEO of Expo Center Sharjah, has been reelected for a new term as Chairman of the Board of the Arab Union for International Exhibitions and Conferences.

Mohammed Butti, CEO of Saudi Arabia’s state-owned National Housing Company, said in an interview with Saudi daily Aleqtisadia the NHC wants to increase its portfolio to more than $53 billion in Saudi Arabia.

🎤 Music Gulf: Saudi Arabia will host next year’s Intervision, a new global song contest launched by Russia after it was kicked out of the Eurovision Song Contest over its invasion of Ukraine. Artists from more than 20 countries, including Saudi Arabia, Qatar and the UAE, competed in the inaugural competition in Moscow on the weekend, with Vietnam’s Duc Phuc judged the winner for his power ballad delivered against a projected backdrop of a solar eclipse. The competition had much of Eurovision’s camp drama and political intrigue, while pushing the Kremlin’s agenda of cultural independence and socially-conservative “family values.” U.S. contestant “Vassy,” who also holds Australian citizenship, dropped out at the last minute citing “unprecedented political pressure” from the Australian Government.

Sept. 23, New York. U.S.-UAE Business Council Roundtable. The Council will hold a discussion with Dr. Thani Al Zeyoudi, UAE Minister of State for Foreign Trade. 

Sept. 23-24, Dubai. MENA EV. Connecting stakeholders in the electric vehicle industry, from early-stage companies and investors to governments and established automakers.The Agenda, Dubai Media City.

Sept. 23-25, Dubai. ArabLab. The Middle East and Africa’s longest-running event dedicated to the laboratory and analytical industry. Dubai World Trade Center. 

Sept. 24, Abu Dhabi. Syria Recovery and Investment Forum – Abu Dhabi Edition. Convening influential business leaders, regional investors, policymakers, and advisory experts to explore practical avenues for engagement in Syria’s recovery. ADNEC. 

Sept. 24, Dubai. Mohammed bin Rashid Leader’s Forum. Bringing together 1,000 key government and private sector leaders to drive transformation in leadership. Dubai World Trade Center. 

Sept. 30- Oct.1, Abu Dhabi. MENA Investment Congress. Hosted by the CFA Society in the UAE, the event brings together investors to discuss new strategies. Rosewood Hotel.

Sept. 30-Oct. 2, Abu Dhabi. Global Rail and Transport Infrastructure Exhibition and Conference. An international event dedicated to the rail transport sector. ADNEC.

Sept. 30-Oct.2, Dubai. WETEX. The region’s biggest exhibition dedicated to sustainability and clean energy technology. Dubai World Trade Center. 

Oct 1-2, Dubai. World Green Economy Summit. Supporting international cooperation in the face of pressing global challenges. Dubai World Trade Center.

Oct. 9-15, Abu Dhabi. IUCN World Conservative Congress. A gathering of conservation experts and leaders from around the world. ADNEC.

Oct. 14-16, Dubai. Global Future Council. The event on the Future of Growth convenes senior economists and thought leaders from across academia, business, government and civil society to provide intellectual guidance on new approaches to growth. 

Oct. 27-30, Riyadh. Future Investment Initiative, 9th Edition. Investors, corporate executives, cabinet ministers and political leaders from around the world attend Saudi Arabia’s flagship business conference. King Abdulaziz International Conference Center.

GREEN CHALLENGE

The chief of Oman’s state-owned oil producer says the company needs “to be brave and challenge the status quo” as it leads the Sultanate’s energy transition on the path to its net-zero 2050 target. Petroleum Development Oman, majority-owned by the government – with Shell, Total and PTTEP owning minority stakes – accounts for more than 70% of Oman’s crude oil output and most of its natural gas. PDO is also investing in carbon-reduction projects and green energy, including two wind farms due to go online next year. PDO Managing Director Aflah Al Hadhrami told Forbes Middle East that Oman “isn’t giving up” on fossil fuels. “The desert is no longer just a place where hydrocarbons are extracted,” he said. “It’s where the future of sustainable energy is being engineered.”

IPO PREP

CloudKitchens, the Los Angeles food startup led by former Uber CEO Travis Kalanick, is adding more banks to its lineup for managing an IPO if it moves ahead with plans for a dual listing in Riyadh and Abu Dhabi. The company, backed by Saudi Arabia’s Public Investment Fund, added JPMorgan, SNB Capital, and First Abu Dhabi Bank to existing adviser Goldman Sachs, Bloomberg reports. CloudKitchens has connections to both the UAE and Saudi Arabia, with its Middle East unit based in Abu Dhabi and the PIF’s $400 million stake in the company. Kalanick, who was ousted from Uber in 2017, had deep ties to the PIF, which invested $3.5 billion in Uber.

ADNOC: This week’s decision by Abu Dhabi National Oil Co.’s XRG unit to scrap a $19 billion takeover of Australia’s Santos followed media reports of a methane leak at one of its operations, Bloomberg reports.

ADQ: Etihad Airways, owned by ADQ, will launch four weekly Airbus A320 flights to Damascus starting June 2026 – 14 years after shutting the route down because of civil war.

ADQ: AD Ports Group, owned by ADQ, is deploying Low Earth Orbit satellite services across its global fleet and terminal operations to improve connectivity. 

₿ Blockchain Land: UAE-based Pulsar Group led a $300 million investment in Nasdaq-listed crypto treasury firm Brera, rebranded as Solmate, which plans Solana-focused infrastructure projects in Abu Dhabi and a potential dual listing in the UAE.

💰 Oman Invests: Oman’s state-owned Omran Group will acquire a stake in German travel group TUI.

💵 Making Gains: The board of UAE remittance and foreign exchange house Al Ansari Financial Services approved an interim dividend of $41 million for H1 2025.

💳 Spare Change: Spare, a Saudi fintech startup, raised $5 million in a pre-Series A round led by anb Seed Fund to build up its open-banking platform, expand work with GCC banks and speed up regional growth.

📈 Valuation Spike: India’s Adani Group, which has strong ties to the Gulf, saw its value increase by more than $8 billion after India’s securities regulator dismissed some allegations against the conglomerate and founder Gautam Adani, Bloomberg reports. 

💣 Long Friends: Saudi Arabia, which is dependent on U.S. weapons and technology, is signaling its alternative alliances by forging a defense pact with nuclear-armed Pakistan, The Financial Times reports. 

🏝️ Resort Growth: Rising demand for high-end tourism is fueling expansion at Egypt’s El Gouna resort, CEO Mohamed Amer told Arab News.

🏭 Boosting Facilities: Egypt will launch a rescue scheme offering loans to revive nearly 6,000 struggling factories as part of its plan to boost exports and reduce its trade deficit.

☀️ Energy Transition: Morocco’s government has confirmed completion of the preliminary phase of the country’s flagship green hydrogen project, while approving land deals for six green hydrogen projects worth $31.2 billion.

🟡 Melted Artifact: Egypt arrested four suspects in the theft of a 3,000-year-old gold bracelet from the Egyptian Museum in Cairo, which was sold for $4,000 and melted down.

Sheikh Mohammed bin Rashid, UAE Vice President, Prime Minister and Ruler of Dubai, met with his core team in the presence of Sheikh Ahmed bin Mohammed, Second Deputy Ruler of Dubai, during an annual gathering held at Dubai’s Museum of the Future.

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, attended the UAE Day celebrations at Expo 2025 Osaka.

Sheikh Tahnoon bin Zayed, UAE National Security Adviser and Chairman of MGX, met with Piyush Goyal, the Indian Minister of Commerce and Industry, to discuss advances in artificial intelligence.

Sheikh Saud bin Saqr, Ruler of the northern emirate of Ras Al Khaimah, attended a reception hosted by Ambassadors of Costa Rica, El Salvador and Guatemala to the UAE to mark their joint 204th anniversary of independence.

Tariq Al-Roumi, Kuwait’s Minister of Oil, said on Thursday that he expects higher oil demand following an interest rate cut in the U.S. this week, particularly from Asian markets, Reuters reports.

Khalaf Al Habtoor, the billionaire Emirati entrepreneur, announced a $2.7 million community package for Syria to support restoration of Umayyad Mosque in Damascus, as well as provide some assistance to vulnerable groups in society.

Mutaz Nazzal was appointed as the Managing Director of TotalEnergies Marketing Egypt, a joint venture between TotalEnergies Marketing Afrique and ADNOC.

Billy Daly has been announced as Group Chief Investment Officer of MBS Global Investments, the strategic investment arm of the Private Office of Qatar’s royal Sheikh Nayef Bin Eid Al Thani. Franck Lopez was appointed Chief Investment Officer.

Ray Dalio, Founder of the Bridgewater Associates, warned during a panel discussion at FutureChina Global Forum in Singapore that U.S. spending is piling up debt and threatening the monetary order, Bloomberg reports.

🛢️ Oil Painting: The latest works by Monira Al Qadiri, one of the Middle East’s most prominent contemporary artists, aims to throw new light on humanity’s interdependent relationship with fossil fuels. Among them are a set of giant sculptural drill bits covered in iridescent colors, constituting a “monument” to oil’s demise as a fuel. The Kuwaiti visual artist joined Bloomberg’s Zero podcast on Thursday to talk about her exhibition, “Deep Fate,” at Helsinki’s Kiasma Museum of Contemporary Art. “I’m making art about the end of oil in a country that would not be able to survive without it,” Al Qadiri told the podcast. 

Sept. 23, New York. U.S.-UAE Business Council Roundtable. The Council will hold a discussion with Dr. Thani Al Zeyoudi, UAE Minister of State for Foreign Trade.

Sept. 23-24, Dubai. MENA EV. Connecting stakeholders in the electric vehicle industry, from early-stage companies and investors to governments and established automakers.The Agenda, Dubai Media City.

Sept. 23-25, Dubai. ArabLab. The Middle East and Africa’s longest-running event dedicated to the laboratory and analytical industry. Dubai World Trade Center. 

Sept. 24, Abu Dhabi. Syria Recovery and Investment Forum – Abu Dhabi Edition. Convening influential business leaders, regional investors, policymakers, and advisory experts to explore practical avenues for engagement in Syria’s recovery. ADNEC. 

Sept. 30- Oct.1, Abu Dhabi. MENA Investment Congress. Hosted by the CFA Society in the UAE, the event brings together investors to discuss new strategies. Rosewood Hotel.

Sept. 30-Oct. 2, Abu Dhabi. Global Rail and Transport Infrastructure Exhibition and Conference. An international event dedicated to the rail transport sector. ADNEC.

Sept. 30-Oct.2, Dubai. WETEX. The region’s biggest exhibition dedicated to sustainability and clean energy technology. Dubai World Trade Center. 

Oct 1-2, Dubai. World Green Economy Summit. Supporting international cooperation in the face of pressing global challenges. Dubai World Trade Center.

Oct. 9-15, Abu Dhabi. IUCN World Conservative Congress. A gathering of conservation experts and leaders from around the world. ADNEC.

Oct. 14-16, Dubai. Global Future Council. The event on the Future of Growth convenes senior economists and thought leaders from across academia, business, government and civil society to provide intellectual guidance on new approaches to growth. 

Oct. 27-30, Riyadh. Future Investment Initiative, 9th Edition. Investors, corporate executives, cabinet ministers and political leaders from around the world attend Saudi Arabia’s flagship business conference. King Abdulaziz International Conference Center.