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Mena Insights, 1200 COVINGTON Road 1, Wilmington, DE (2025)

01/17/2025

Emaar Properties, Dubai’s largest listed real estate firm and developer of iconic projects like the Burj Khalifa, is in discussions with groups in India, including Adani Group, to sell a stake in its Indian business.

While details on valuation and terms are yet to be finalized, media reports suggest Adani Realty is in advanced talks to acquire a majority stake.

Emaar India, which began operations in 2005, has a portfolio of residential and commercial properties across Gurugram, Mohali, Lucknow, Jaipur, and Indore.

01/08/2025

Emirati billionaire Hussain Sajwani, chairman of DAMAC, announced plans to invest $20 billion in the US data center industry, with potential for further expansion depending on market opportunities.

The announcement was made alongside U.S. President-elect Donald Trump at Mar-a-Lago, highlighting Sajwani’s longstanding business ties with Trump, including DAMAC’s ownership of the only Trump-branded golf course in the Middle East.

The investment signals continued Gulf interest in American tech infrastructure, and the warming of economic ties between the UAE and the US.

01/07/2025

Saudi Arabia’s Public Investment Fund (PIF) subsidiary, Turath Al-Madina, has launched Milaf Cola, the world’s first date-based soft drink, offering a healthier, sustainable alternative to traditional sodas.

With 33% of Gen Z consumers avoiding sugary drinks, Milaf Cola leverages natural sweetness from dates to appeal to health-conscious buyers, potentially positioning itself as a competitor to industry giants like Coca-Cola.

As part of Saudi Arabia’s Vision 2030, this innovative beverage could help promote local agriculture and sustainability.

01/05/2025

Bahrain’s national football team won the 26th Gulf Cup, “Khaleeji Zain 26”, defeating Oman 2-1 in the final held at Jaber Al Ahmad International Stadium in Kuwait.

Reactions to the victory such as congratulations from UAE’s leaders reflected the camaraderie of Gulf nations. Additionally, the event hosted by Kuwait smoothly integrated participants and fans from various Gulf countries.

01/03/2025

Abu Dhabi’s Mubadala Investment Co. was the world’s most active sovereign wealth fund last year, overtaking Saudi Arabia’s Public Investment Fund, which was the most active in 2023. This comes as PIF slows down spending and refocuses on investing at home.

Mubadala deployed $29.2 billion in 2024, according to research consultancy Global SWF. That was 67% more than a year earlier and outpaces the 7% wider growth in investments by sovereign funds in the rest of the world.

In total, Abu Dhabi’s various sovereign funds invested over $57.6 billion last year, according to Global SWF.

01/01/2025

UAE stuns the world...

Dubai’s breathtaking New Year fireworks display at the Burj Khalifa exemplified the UAE’s ability to innovate and showcase its vision to the world, yet again.

Organized by property giant Emaar, the event reflected an investment of likely over $12 million, surpassing similar displays in major global cities. Meanwhile, Abu Dhabi showcased a stunning 40 minute firework show involving 5,000 drones.

These productions, powered by cutting-edge software and a unique “can-do attitude,” prove the UAE’s commitment to pushing boundaries and delivering world-class experiences.

[Photo: Dubai Media Office]

12/30/2024

UAE Real Estate Outlook

The UAE’s real estate market is poised for continued growth in 2025, driven by heightened interest from institutional investors seeking attractive yields and stable opportunities amid global economic uncertainty.

Notably, Dubai’s real estate transactions exceeded AED 544 billion ($148 billion) in the first nine months of 2024, reflecting the city’s strong population growth and demand for premium, income-generating assets.

While challenges such as rising construction costs and labor shortages persist, proactive strategies by developers are mitigating these pressures, enabling robust delivery across residential, commercial, and mixed-use sectors.

12/27/2024

Saudi Arabia’s Kingdom Holding Company (KHC) has invested SAR 1.5 billion ($400 million) in Elon Musk’s artificial intelligence company xAI Corporation through its Series C funding round, matching its earlier Series B investment.

xAI, which aims to accelerate human scientific discovery by developing leading AI models, was valued at $45 billion in the Series C round, a substantial increase from its $25 billion Series B valuation.

This investment, funded internally by KHC, strengthens its strategic partnership with Musk, complementing its long-standing stake in X (formerly Twitter) since 2015.

12/22/2024

UAE-based Ohana Development has announced a partnership with Jacob & Co., a renowned luxury watch and jewelry brand, to launch a $1.3 billion ‘Jacob & Co. Beachfront Living by Ohana’ project in Abu Dhabi.

The waterfront project will offer a mix of high-end residences and luxury amenities and be located between Dubai and Abu Dhabi in Al Jurf.

The project should include apartments, large villas, sky mansions, canal-front mansions and beachfront mansions. Branded amenities include the Jacob & Co. beach club, residents club, and cigar lounge. The project is scheduled for completion by the second quarter of 2028.

12/21/2024

The GCC debt capital market grew 11% year-on-year to hit $1 trillion in 2024, with nearly 40% raised through sukuk, according to Fitch Ratings.

Key drivers include financing government projects, fiscal deficits, and diversification efforts, while falling oil prices and anticipated US Fed rate cuts could boost sovereign issuances and create a more favorable funding environment in 2025.

The region is expected to remain a global leader in sukuk issuance and among the largest emerging-market dollar debt issuers.

12/19/2024

Dubai has launched its first drone delivery system, with Keeta Drone receiving the first license from the Dubai Civil Aviation Authority to operate six drones at Dubai Silicon Oasis (DSO).

Four routes connect key locations like Rochester Institute of Technology-Dubai and Dubai Digital Park, facilitating fast deliveries of medicines, food, and parcels.

Sheikh Hamdan Al Maktoum placed the inaugural order, marking the start of this innovative system.

12/17/2024

Saudi Arabia’s Almoosa Health Company set a final offer price of 127 riyals ($33.8) per share, implying a market capitalisation of SAR 5.63 billion ($1.5 billion), with a subscription period for individuals from 23-24 December.

The Saudi healthcare provider’s SAR 1.69 billion IPO is the second largest in the kingdom this year, after Fakeeh Care Group’s $764 million listing.

Almoosa’s services include primary, critical, and rehabilitative care. The company posted revenue of SAR 979 million and net income of SAR 98 million in 2023. For the nine months of 2024, the company reported revenue of SAR 870 million and net income of SAR 40 million.

12/16/2024

Dubai’s Emaar Properties has announced plans to distribute 100% of its share capital as dividends for fiscal year 2024, amounting to AED8.8 billion ($2.4 billion). This is double the dividend paid for 2023 of AED 4.4 billion ($1.2 billion).

“At Emaar, our priority has always been to create exceptional value for our shareholders, and this year’s 100% dividend distribution is a clear reflection of that commitment. We’re thrilled to see our early investors realise returns that have multiplied four times,” said its Founder Mohamed Alabbar.

12/14/2024

Investing in Syria’s export-oriented sectors presents potential opportunities, only if the country achieves greater stability. Here are two more key industries to consider if a real path to stabilization ever occurs:

1. Phosphate Mining and Fertilizer Production

Syria possesses substantial phosphate reserves, with calcium phosphates being a notable export commodity, valued at $43.2 million in 2022.

Investing in the mining and processing of phosphates into fertilizers could meet domestic agricultural needs and serve export markets. Given the global demand for fertilizers, this sector offers significant growth potential. Strategic partnerships and investments could enhance production efficiency and open new markets.

2. Oil and Gas Development

Syria holds significant oil and natural gas reserves, primarily located in the northeast and central regions of the country. While current production is estimated at less than 25,000 barrels per day (bpd) due to infrastructure damage and operational challenges, the country’s pre-crisis production capacity was over 350,000 bpd, highlighting its potential.

12/12/2024

Saudi Arabia has been announced as the host nation for the 2034 Men’s FIFA World Cup after placing the only bid.

In preparation, the Saudi government has committed to significant infrastructure projects, in addition to building or renovating 11 stadiums and 185,000 new hotel rooms.

12/11/2024

The PGA Tour and Saudi Arabia’s Public Investment Fund (PIF) have finalized an agreement for a $1.5 billion investment into PGA Tour Enterprises, valuing the entity at approximately $12 billion, with PIF taking a 6% minority stake.

The deal, first announced as a framework in June 2023, still requires regulatory approval, with optimism fueled by US President-elect Donald Trump’s support for resolving the conflict between LIV Golf and the PGA Tour.

MENA Business Insights recently highlighted that Trump, a golf enthusiast, has been actively engaging with key figures, including PGA Tour commissioner Jay Monahan and PIF head Yasir Al-Rumayyan.

12/09/2024

Investing in Syria’s export-oriented sectors presents potential opportunities, only if the country achieves greater stability. Here are two key industries to consider if a real path to stabilization ever occurs:

1. Agriculture and Agro-Processing

Syria’s agricultural sector has traditionally been a cornerstone of its economy, producing commodities like olive oil, nuts, and raw cotton. In 2022, pure olive oil exports amounted to $140 million, with other nuts contributing $43.8 million.

Investing in modernizing agricultural practices and establishing agro-processing facilities could enhance product quality and increase export volumes.
2. Textile and Garment Manufacturing

The textile industry has been a significant employer in Syria, with over 24,000 registered facilities employing about 30% of the population.

Historically, textiles have been a major non-oil export, with products reaching markets in the Middle East and Europe. Investing in this sector could revitalize production capacities, improve competitiveness, and recapture lost market share. Modernizing equipment and training the workforce would be essential steps in this process.

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