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AGRICULTURE-
Silal inks agreement with Kezad Group for agtech initiatives in Al Ain: Abu Dhabi-based agrifood and technology company Silal has signed a Musataha agreement with Kezad Group to launch two agtech initiatives in Al Ain Industrial City, aimed at sustainable farming and local food production, Wam reports. The first initiative involves a 50k sqm indoor farming project focused on cultivating premium berries in collaboration with sustainable agri-climate tech company Iyris. The second uses advanced controlled-environment agriculture to cultivate high-value crops across 100k sqm, while minimizing water consumption.
REAL ESTATE-
#1- Deyaar Development launched Park Five, a AED 1.5 bn residential community project in Dubai Production City, according to a press release (pdf). Phase one of the project is scheduled to wrap up in the summer of 2027, featuring Elm and Ember towers which offer studios and one- to three-bedroom apartments.
ICYMI- The company’s first residential project in Abu Dhabi, Rivage, was completely sold out last week.
#2- UAE-based developer Avighna Group purchased Emaar Business Park’s building 3 on Sheikh Zayed Road for AED 233 mn from Oman’s Bank Muscat’s Izdihar Real Estate Fund, according to a press release. The property holds 150k sq ft of commercial and retail space and is fully tenanted.
E-COMMERCE-
Telr to adopt Samsung Pay: UAE-based online payment gateway Telr partnered with Samsung Gulf Electronics to integrate Samsung Pay into its platform in a bid to ramp up the use of mobile payment solutions in the UAE, according to a press release.
ACCOUNTING-
Audit firms Ahmad Alagbari Chartered Accountants and Firm Harbour Aegis formed an alliance to provide cost-effective financial and advisory services, including audit, assurance, corporate taxation, and VAT compliance, Gulf News reports. The partnership looks to address the growing demand for affordable, reliable solutions by targeting the mid-tier market in the UAE. The integration is slated for completion in 2Q 2025, after which revenues are expected to exceed USD 15 mn in 2025.
More to come: The firms plan to onboard additional firms specializing in asset valuation and counseling services and expand operations beyond the UAE, aiming to double or triple revenues within five years. The alliance’s workforce currently includes 150 staff members, with plans to expand it by 10-15%.
FMCG-
Bateel sets up shop in South Korea: Gourmet dates retailer Bateel opened its first store in Seoul, South Korea at Lotte World Mall, according to a press release. The new shop — larger than Bateel’s flagship stores in the UAE and KSA — is its first in Asia. Bateel now operates in over 29 countries across the GCC, Europe, and Asia.
More to come: Bateel plans to launch its Bateel El’an Concept — a modern café format offering dine-in, takeaway, and delivery — in South Korea in early 2025. The company is also eyeing entering new markets such as Singapore.
AUTOMOTIVE-
Chinese automotive brand Omoda & Jaecoo tapped Galadari as its first UAE distributor under a new partnership, according to a press release. The brand’s flagship Omoda C5 and Jaecoo J8 models are set to launch in the UAE in 2025, with showrooms and service centers in Sharjah, Ras Al Khaimah, and Fujairah.
DEFENSE-
UAE eyes Russian-Indian missiles: BrahMos Aerospace, a Russian-Indian firm, is in talks with the UAE, Vietnam, and Indonesia about supplying its BrahMos missiles, which target both land and naval sites, Azernews reports. Developed by Russia’s NPO Mashinostroeniya and India’s Defense Research and Development Organization, the supersonic cruise missiles, which can reach speeds up to Mach 3, are currently in service with the Indian military.
BUSINESS-
Bank of Communications Co. (BOCOM), China’s fifth largest bank, opened an office in Dubai International Financial Center (DIFC), in a bid to boost economic, trade, and investment cooperation between China and the the Middle East, Africa, and Southern Asia (MEASA) region, according to a DIFC statement. BOCOM joins over 230 banks at DIFC and is the fifth Chinese bank to establish a presence in the DIFC.
CULTURE-
Dubai is getting a Dubai Photography Museum, which is set to attract cultural institutions to set up presence at the museum, according to the Dubai Media Office.
