Sign in
LOGISTICS-
Maqta Gateway + Presight AI to deliver AI-driven trade and logistics solutions in the UAE: AD Ports Group’s Maqta Gateway has inked a partnership agreement with ADX-listed data analytics firm Presight AI to develop AI-powered digitized solutions for trade and logistics, according to a statement. The two companies will work together on the development and commercialization of AI and data analytics solutions for the trade of goods across ports, the statement said.
REAL ESTATE-
#1- Amis hands Woodland Residences construction contract to Dar Al Aayan: Dubai-based real estate developer Amis Properties awarded a contract to Dar Al Aayan Contracting to build its AED 425 mn Woodland Residences project, according to a press release. The project is located in District 11 of Meydan, and is scheduled for delivery in April 2026.
#2- Alef launches AED 2.5 bn Sharjah development: Sharjah-based real estate developer Alef Group launched a AED 2.5 bn residential project, Olfah, in Sharjah, according to a press release. The development features 12 buildings housing one- to three-bedroom units, as well as Sharjah’s largest private community park. The project’s construction and delivery timelines were not disclosed.
M&A-
EGA completes US recycled aluminum manufacturer takeover: Mubadala-backed Emirates Global Aluminium (EGA) finalized its acquisition of an 80% stake in US-based aluminum recycling company Spectro Alloys, after inking an equity purchase agreement for the transaction back in August, according to an EGA statement. The value of the transaction was not disclosed.
HOSPITALITY-
#1- IHG Hotels signs franchise agreement for the world’s tallest hotel tower: UK-based IHG Hotels and Resorts inked a franchise agreement with Dubai-based property development and asset management firm The First Group to launch the tallest all-hotel tower in the world Ciel next year, according to a press release. The property will be part of IHG’s Vignette Collection.
#2- Omniyat unveils AED 7 bn Alba hotel: Dubai-based developer Omniyat launched the Alba Hotel and Residences, a 95-key luxury beachfront development valued at AED 7 bn, according to a press release. Designed by Zaha Hadid, the hotel will be located on Dubai’s Palm Jumeirah and will be managed by UK-based Dorchester Collection. The project is slated to open in 2028.
FINTECH-
#1- Amazon Payment Services will integrate Mastercard Gateway payment processing solution into its platform across the UAE, Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, and South Africa under a new multi-year partnership between the two, according to a statement (pdf).
#2- SME merchants using payment solutions provider Magnati will be able to access credit facilities from RakBank under a freshly-inked agreement between the two to launch a merchant financing platform, Wam reports. The platform will streamline the loan application process and allow automatic repayment deductions to be made from daily payouts. The platform will cover business loans, invoice financing, equipment financing, POS financing, receivables financing, and ins.
BANKING-
EDB + Adib partner to support SME financing: Emirates Development Bank (EDB) and Abu Dhabi Islamic Bank (Adib) entered into a partnership aimed at boosting financial support for UAE-based SMEs under a joint finance guarantee scheme, according to a press release. The partnership will see EDB guarantee up to 50% of the financing provided by Adib to SMEs, primarily geared towards firms in key sectors such as manufacturing, food security, advanced tech, healthcare, and renewables.
Background: The partnership builds on EDB’s existing Credit Guarantee Scheme, which has provided AED 1.58 bn in financing to SMEs since its launch in April 2021. With Adib’s collaboration, EDB aims to reach AED 30 bn in SME financing by 2026.
DEBT-
Chalhoub Group taps Emirates NBD for SAR 100 mn loan: Luxury products retailer Chalhoub Group secured a loan agreement from Emirates NBD for SAR 100 mn to finance its sustainability targets and net-zero action plan, according to a press release.
BUSINESS-
The Emirates Entrepreneurship Association inked an MoU with Mappable to facilitate entrepreneurs’ and SMEs’ access to the company’s digital mapping solutions, according to a press release.
EDUCATION-
Dubai-based 01Edu expands in Egypt: Learning platform 01Edu partnered up with the USD 41.2 mn educational initiative NextEra Education to integrate AI into the Egyptian educational system, according to the Head of 01Edu Middle East Walid Tarabih’s post on LinkedIn.
