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CRYPTO-
#1- Cointelegraph to set up shop in Dubai: US-based crypto news platform Cointelegraph will open a regional office in the Dubai Multi Commodities Center under an agreement it signed with the freezone, according to the Dubai Media Office.
#2- BitOasis taps Crystal Intelligence for anti-money laundering solutions: Dubai-based and Mena’s largest crypto trading platform BitOasis partnered with Dutch blockchain analytics firm Crystal Intelligence to use its anti-money laundering and transaction monitoring solutions on its platform, according to a press release.
#3- Phoenix launches a new mining site in Canada: ADX-listed crypto miner Phoenix Group launched a 20-MW mining facility in Canada’s St. Leon, projected to generate 700 PH, according to a disclosure to the ADX (pdf).
DEBT-
An unnamed UAE-based subsidiary of Boursa Kuwait-listed IFA Hotels and Resorts is getting AED 630 mn in loans from undisclosed Emirati banks, according to disclosures to the DFM (here and here). The AED 600 mn, 15-year facility will be used to settle AED 581 mn in outstanding debts, while the AED 30 mn, 12-year funding will be used to expand the company’s operations.
CONSTRUCTION-
The Abu Dhabi Investment Office signed three Musataha agreements with several investors to develop commercial and industrial facilities in the emirate, according to the Abu Dhabi Media Office. The identities of the investors were not disclosed.
Here’s the rundown of the agreements:
- An AED 26.6 mn agreement for a community market in Al Nahdah Al Askariah;
- Another agreement for a commercial facility in Al Khatim region of Al Ain, featuring roadways, parking areas, landscaping, and a food truck park;
- An AED 12 mn agreement to set up a third manufacturing facility for concrete producer Readymix Abu Dhabi in Madinat Zayed.
REAL ESTATE-
Dubai-based real estate developer Swank Development broke ground on its AED 320 mn residential project Lua Residences in Mohammed Bin Rashid City, according to a press release. The development will feature 37 villas and is slated for completion in 2Q 2026.
TOURISM-
Tourism 365, Adnec Group’s tourism arm, oversaw the launch of the first weekly charter flight connecting Uzbekistan to Al Ain, according to a press release. The flight, operated by new Uzbekistani airlines Air Samarkand, is part of an expanded partnership with Uzbekistan-based tour operator EasyBooking. Under the partnership, Tourism 365 is managing the visitor experience for Uzbekistani tourists, offering accommodation and tourism activities in Al Ain. The tour operator already organizes charter flights connecting Uzbekistan to Abu Dhabi and Dubai.
SUSTAINABILITY-
Ittihad International Investment received an ESG provisional rating of AAA from MSCI, placing the Abu Dhabi-based non-oil investment conglomerate among the top sustainable industrial conglomerates globally, according to a statement. The rating pushed the company to the fifth spot on the MSCI global index, which includes 36 major industrial groups, according to Khaleej Times.
RETAIL-
Indian firms eye DP World’s Bharat Mart: DP World has attracted interest from some 9k Indian businesses looking to establish operations in Bharat Mart, a warehousing and trading hub in Dubai designed for India’s MSMEs, CNBC TV18 reports, citing Indian Commerce and Industry Minister Piyush Goyal. The facility, located in DP World’s Jebel Ali Freezone, will span 100k square meters and include 1.4k units.
Background: The foundation stone for the project was laid earlier this year. Set to open in 2026, the marketplace aims to streamline access to global markets for Indian manufacturers and exporters.
