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One way to keep momentum going is

to constantly have greater goals.

Editor’s Note

The UAE continues to solidify its position as a global

financial leader, with innovation playing a key role in

shaping its economic landscape. In the March edition

of Finance World, we explore “The Future of Wealth and

Innovation in the UAE,” shedding light on the evolving

financial ecosystem and the transformative forces driving

growth. This edition delves into how WealthTech, family

offices, and sovereign wealth funds are reshaping wealth

management and investment strategies, ensuring long-term

financial sustainability.

Our cover story features Mansoor Alfalasi, CEO of Dubai

Taxi Company (DTC), who shares his strategic vision for 2025.

He discusses DTC’s commitment to innovation, sustainability,

and smart mobility, along with efforts to reduce its carbon

footprint. From integrating advanced technologies to enhancing

customer service, Alfalasi outlines how DTC is redefining

urban transportation in Dubai.

In addition, we bring you insightful opinion pieces from

industry leaders. Kush Ahuja explores global trade trends

and their impact on business strategy, analyzing how shifting

trade dynamics are influencing financial decision-making.

Meanwhile, Dr. Yasar Jarrar examines the GCC’s transition

from an oil-dependent economy to a technology-driven

powerhouse, highlighting the region’s significant investments

in AI and digital transformation.

This edition also celebrates extraordinary leadership

in healthcare with our exclusive Power List of the Top 50

leaders driving innovation in the industry. From AI-driven

treatments to transformative patient care solutions, these

changemakers are setting new benchmarks for medical

excellence in the region.

MCFILL MEDIA MCFILL & MEDIA &

PUBLISHING PUBLISHING GROUP GROUP

Ambrish Agarwal, Editor in Chief

Ambrish Agarwal, Editor in Chief

Published by and © McFill Media & Publishing Group FZE LLC

Published by and © McFill Media & Publishing Group FZE LLC

Mar 2025 www.thefinanceworld.com 7

Contents Mar

2025

COVER STORY

ENERGY

P92 | ADNOC’s Strategy for Driving

Energy Innovation in the UAE

ADNOC is driving energy innovation by investing

in AI, low-carbon solutions, and advanced

technologies.

OPINION

P30 | Innovation in Motion

Our cover story highlights Mansoor Alfalasi, CEO of Dubai Taxi Company

(DTC), he shares valuable insights into the company’s strategic vision for

2025.

BANKING

P22 | Digital-Only Banks in the UAE: Are They

the Future of Banking?

Digital-only banks in the UAE are redefining banking with seamless, techdriven

experiences.

P140 | Global Trade Trends and

Their Impact on Business Strategy

Valuable opinion piece on how global trade trends

are reshaping business strategies by Kush Ahuja.

8 www.thefinanceworld.com Mar 2025

INVESTMENT

POWERLIST

P134 | How Public-Private Partnerships Drive

Major Infrastructure Projects in the UAE

Public-private partnerships in the UAE are accelerating major

infrastructure projects, combining government vision with private sector

innovation for sustainable growth.

INTERVIEW

P38 | Top 50 Healthcare

Trailblazers in the UAE

This list celebrates the very best leaders in the

UAE’s healthcare industry.

WHEELS

P124 | ECI Launched Xport Xponential to Boost

P138 | 2025 Omoda E5

National Exports

Raja Al Mazrouei, CEO of Etihad Credit Insurance, discussed the launch

of Xport Xponential and its impact on boosting national exports.

The 2025 Omoda E5 is set to redefine the electric

vehicle market with its cutting-edge design,

impressive performance, and advanced features.


Investment

Source: Ai generated

Collectibles have steadily grown as an appealing asset class within the alternative investment landscape.

The Art of Wealth:

How Investors are

Diversifying Through

Art and Collectibles

Investors in UAE are Exploring Art

and Collectibles to Secure and Expand

their Wealth.

Investing in art and collectables has

become a growing trend among UAE

investors seeking diversification and

stability. As traditional markets face volatility,

tangible assets like fine art, rare

coins, vintage watches, and classic cars

are gaining prominence for their potential

to preserve wealth and yield significant

returns. With Dubai emerging as a cultural

hub, hosting prestigious art fairs like Art

Dubai and offering tax-free incentives,

the region attracts global collectors and

investors alike. This approach aligns with

the UAE’s emphasis on innovation and

luxury, making it a prime destination for

high-net-worth individuals exploring alternative

investment opportunities. Art and

collectibles are reshaping wealth management

in the UAE’s evolving economy.


The United Arab Emirates (UAE) has

established itself as a major player

in the global art and collectables

market, aligning with its broader strategy

of economic diversification. In 2018, the

Middle East contributed approximately

$92.7 billion to the global art market, a

figure projected to rise to $111 billion

by 2023. Dubai, as a regional hub, has

become a focal point for art investment.

Events like Art Dubai, which highlights

emerging and established artists, play

a crucial role. The 2023 edition of Art

Dubai had an economic impact of AED

143 million, reflecting the city’s importance

in the global art scene.

Christie’s Dubai Auction Highlights

Christie’s Dubai has significantly enhanced

the United Arab Emirates’ position within

the global art market. In April 2023, the

auction house announced the sale of a

Richard Mille RM69 watches for $1.5 million,

reflecting a strong interest in high-value

collectables. During the preceding twelve

months, Christie’s Dubai recorded total

sales amounting to approximately $2.15

million. This achievement illustrates the

increasing attractiveness of the region

to international investors and collectors,

supported by its exceptional infrastructure

and governmental initiatives.

Government Support and Strategic

Investments

The UAE government has prioritised arts

and culture as integral to its economic

vision. Landmark initiatives such as the

development of Saadiyat Island in Abu

Dhabi underscore this commitment.

Saadiyat Island is home to renowned

institutions like the Louvre Abu Dhabi

and the forthcoming Guggenheim Museum,

which together cement the UAE’s

cultural significance on the global stage.

Additionally, free zones such as the

Dubai International Financial Centre

(DIFC) and Abu Dhabi Global Market

(ADGM) offer tailored infrastructure for

art transactions. These zones provide

tax incentives, a clear regulatory framework,

and logistical support, attracting

international galleries and collectors.

By integrating culture into its economic

strategy, the UAE has cultivated a thriving

ecosystem for art investment.

Economic Contribution of Art and

Collectibles

The market for art and collectables plays

a substantial role in the economy of the

United Arab Emirates. While specific

data for the year 2023 is not extensively

available, information derived from

prominent auction houses and cultural

events suggests a pattern of consistent

growth. For instance, the total sales

recorded by Christie’s Dubai, amounting

to $2.15 million in the preceding year,

indicate a flourishing market. Furthermore,

events such as Art Dubai and Abu

Dhabi Art serve as significant venues for

both regional and international artists,

thereby promoting tourism and facilitating

considerable economic activity.

Rise of Alternative Investments

Art and collectables are gaining prominence

as alternative investment assets

among high-net-worth individuals in the

UAE. The global art market is forecasted

to reach $64 billion by 2026, reflecting a

The arts sector is pivotal

in fostering societal

development at all levels.”

H.E. Sheikh Salem bin Khalid Al Qassimi,

UAE Minister of Culture and Youth

growing preference for tangible assets that

offer both financial and aesthetic value.

Collectables such as fine art, vintage

cars, and luxury watches are increasingly

being viewed as long-term stores

of value. For instance, rare watches like

those sold at Christie’s Dubai exemplify

how these assets can serve as lucrative

investments.

Fractional ownership platforms have

also emerged, making high-value art and

collectables more accessible. These platforms

allow investors to purchase shares

in masterpieces, diversifying portfolios

while lowering entry barriers.

Infrastructure and Free Zones: Catalysts

for Growth

The UAE’s robust infrastructure and

innovative free zones have been pivotal

in the growth of its art market. The

DIFC and ADGM stand out for providing

streamlined processes, tax benefits, and

tailored services for art businesses. These

free zones have attracted international

auction houses, galleries, and collectors

by offering a secure environment for

transactions and the physical storage of

art. Moreover, logistics companies in the

UAE have developed specialised services

for transporting and storing art and collectables,

ensuring high-value items are

handled with care. This seamless ecosystem

supports the art market’s expansion and

enhances investor confidence.

Challenges in the Art Market

Despite its rapid growth, the art and

collectables market faces challenges. Key

issues include valuation inconsistencies,

liquidity concerns, and difficulties in authentication.

These obstacles can deter

potential investors, emphasising the need

for enhanced transparency and regulation.

The UAE is proactively addressing

these challenges. Digital platforms are

being implemented to track provenance

and verify authenticity, ensuring buyers

have access to reliable information.

Partnerships with global art authentication

bodies further bolster confidence.

Additionally, education campaigns aimed

at collectors and investors are helping

to raise awareness about due diligence

when entering the market.

The UAE’s strategic investments and

policies have firmly established it as

a leading player in the global art and

collectables market. By fostering an environment

conducive to art investment,

the nation is simultaneously enriching

its cultural landscape and diversifying

its economy. As the art market evolves,

the UAE’s initiatives in free zones, infrastructure,

and digital platforms will

continue to attract global investors. While

challenges persist, the UAE’s proactive

measures and commitment to transparency

position it well for sustained

growth. Investors must remain informed

and strategic to fully capitalise on the

opportunities in this dynamic sector,

ensuring the UAE remains a global hub

for art and collectables.


Funding & Investment News

UAE’s Pluto Secures

$4.1 Million Pre-Series

a Funding

Pluto, a UAE-based platform

for managing corporate cards

and expenses, has raised USD

4.1 million in a pre-Series A funding

round. The investment was led by

Rhino Ventures, alongside Born Capital

and Goanna Capital. Pluto’s solution

streamlines financial processes for

businesses, including budget management,

procurement, and spending

control. It serves several high-profile

clients, such as Property Finder and

Knight Frank, and aims to further

expand its services within the UAE’s

rapidly growing fintech sector.

Hub71 Welcomes 27 Global Tech Startups with

$145M Funding

Abu Dhabi’s Hub71 has welcomed

27 global tech startups into its

latest cohort, collectively raising

over $145 million in funding. This

expansion brings the total number of

ventures supported by Hub71 to 357. The

new startups, selected from more than

1,300 applications, represent leading

technology markets such as the USA,

UK, and Germany. Notable additions

include Vivan Therapeutics, a UK-based

precision medicine company pioneering

cancer research using AI and fruit fly

models, and Theion, a German startup

developing sustainable sulfur-based

batteries that store up to three times

more energy than traditional batteries.

One in three startups in the cohort

is based in the UAE, showcasing the

nation’s growing status as a global

entrepreneurship hub.

Qeen.ai Secures $10M in One of MENA’s Largest

Seed Investments

Mubadala Invests in

Apleona with Bain

Capital

Mubadala Investment Company

has announced a strategic investment

in Apleona, a leading

integrated facility management group

in Europe. This investment is part of

a consortium led by Bain Capital’s

Private Equity team in Europe, aiming

to support Apleona’s continued growth

and development. The collaboration

seeks to enhance Apleona’s position in

the European market, leveraging the

combined expertise and resources of

the consortium members. This move

highlights Mubadala’s commitment to

investing in top facility management

companies.

Dubai-based e-commerce startup

qeen.ai has raised $10 million in

one of the largest seed investments

in the MENA region. The funding,

led by Prosus Ventures, will support

the expansion of its AI-driven platform,

enhancing capabilities in content creation,

marketing, and sales. Founded in

2023 by former Google and DeepMind

employees, qeen.ai aims to provide

scalable AI solutions for e-commerce

businesses. The seed funding boosts

its total investment to $12 million,

helping the startup capitalize on the

rapidly growing e-commerce market

in the MENA region.

Daman Investments Partners with Société

Générale to Strengthen ESG Investing

Daman Investments has formed

a strategic collaboration with

Société Générale to enhance

its ESG (Environmental, Social, and

Governance) investment capabilities.

This partnership will allow Daman

to provide more sustainable investment

opportunities, responding to

the growing demand for responsible

investing in the region. The initiative

underscores Daman’s dedication to

integrating ESG principles into its

financial services, aligning with global

trends and meeting regulatory expectations

for responsible investing.


Egypt and UAE Explore ADNOC Investment in Natural Gas

During the World Government

Summit, Egypt and the UAE held

high-level discussions about

investment opportunities for ADNOC

(Abu Dhabi National Oil Company) in

Egypt’s natural gas sector. The meeting,

attended by Egypt’s Minister of

Petroleum Karim Badawi and UAE’s

Minister of Industry and Advanced

Technology Sultan Al Jaber, focused

on bolstering cooperation in areas

like gas supply security, research,

and exploration. ADNOC is planning a

significant expansion in Egypt, which

includes investments in the exploration

of natural gas and the establishment

of a joint venture, Arcius Energy. This

initiative is expected to play a key role

in enhancing energy cooperation between

the two nations, strengthening

economic ties, and ensuring greater

energy security in the region.

UAE Investment Conference in Vietnam to Boost

Bilateral Cooperation

The UAE Ministry of Economy is

organizing a large-scale investment

conference in Vietnam in

2025, aimed at fostering economic

cooperation and attracting investments

between the two nations. The event

will focus on a variety of sectors, including

AI, infrastructure, and energy,

highlighting the diverse opportunities

available for collaboration. The conference

is expected to feature key

international corporations, government

representatives, and industry leaders,

all working together to explore the

growing investment potential between

the UAE and Vietnam. This event is a

direct outcome of the UAE-Vietnam

Comprehensive Economic Partnership

Agreement (CEPA), which is designed

to unlock new trade opportunities and

encourage closer economic relations.

As both countries work to build on this

partnership, the conference will serve

as a platform for discussing new business

ventures and facilitating further

cross-border investments.

Tabby Secures $160M, Valued at $3.3B

Tabby, the Middle East’s leading

fintech company, has secured

$160 million in a Series E funding

round, elevating its valuation to

$3.3 billion. This investment positions

Tabby as the most valuable fintech

firm in the MENA region. The funding

round was led by existing investors

Blue Pool Capital and Hassana Investment

Company, with additional participation

from Wellington Management

and STV. Since its previous funding

round in October 2023, Tabby has nearly

doubled its annualized transaction

volume to over $10 billion while maintaining

profitability. The company has

also expanded its product offerings,

including the acquisition of Saudi digital

wallet Tweeq and the introduction

of Tabby Plus, a subscription program.

Careem Pay Expands

Remittance Service to

18 More European

Countries

Careem Pay, the fintech arm of

the Careem Everything App,

has expanded its international

remittance service by adding 18 new

European transfer corridors. UAE citizens

and residents can now send money

directly to bank accounts in countries

such as Austria, Belgium, Croatia, and

Portugal, among others. This expansion

builds on existing transfers to Germany,

France, Ireland, Spain, and Italy, as

well as key remittance destinations

like India, Pakistan, the UK, and the

Philippines. By broadening its reach,

Careem Pay enhances financial connectivity

for its users, enabling seamless

cross-border transactions. Customers

can now transfer up to AED 150,000

per transaction and AED 450,000 per

month to valid IBANs, reinforcing

Careem Pay’s commitment to offering

secure and efficient financial solutions

in the UAE’s evolving digital payments

landscape.


Economy


Family offices shaping the UAE’s future through strategic wealth and investment growth.

The Rise of

Family Offices in

the UAE: Trends

and Insights

Family Offices Emerge as Strategic Wealth

Management Hubs Driving Economic Growth

and Generational Prosperity.

The rise of family offices in the UAE reflects

the country’s growing prominence

as a global wealth management hub. Family

offices, which manage the financial

affairs of ultra-high-net-worth families,

have become increasingly popular due to

their ability to offer tailored investment

strategies, succession planning, and asset

preservation. The UAE’s strategic location,

business-friendly regulations, and

economic diversification initiatives make

it an attractive destination for wealthy

families worldwide. With significant investments

in sectors such as real estate,

technology, and renewable energy, family

offices are playing a vital role in driving

economic growth. This trend underscores

the UAE’s commitment to becoming a

leader in global wealth management.


The United Arab Emirates (UAE)

has rapidly emerged as a global

hub for family offices, attracting

ultra-high-net-worth individuals (UHNWIs)

from around the world. These private

wealth management entities, dedicated to

preserving and growing family fortunes,

have become an integral part of the UAE’s

economic diversification strategy. With

its favourable business environment,

robust regulatory framework, and strategic

location, the UAE now hosts a

significant share of the region’s family

offices, making it a key player in the

global wealth management landscape.

Growth and Market Dynamics

The UAE accounts for over 75% of the

region’s family offices, with Dubai leading

the charge, hosting more than half

of them. This dominance reflects the

country’s concerted efforts to position

itself as a wealth management hub. The

financial wealth in the UAE is projected

to grow at a compounded annual growth

rate (CAGR) of 6.7%, reaching nearly USD

1 trillion by 2026. Approximately 41%

of this wealth is currently managed by

family offices, a figure expected to climb

to 46% by the same year. One notable

factor contributing to this growth is

the influx of foreign UHNWIs attracted

by the UAE’s investor-friendly policies,

including the golden visa programme

and tax incentives. Additionally, local

families are increasingly recognising the

advantages of establishing structured

entities to manage their wealth, ensuring

its preservation across generations.

Investment Strategies and

Sector Focus

Family offices in the UAE are diversifying

their portfolios across various sectors,

aligning with global trends and local opportunities.

Real estate continues to be a

key investment area, with family offices

focusing on both residential and commercial

properties in the UAE’s booming market.

The technology sector is another priority,

with significant investments in fintech,

artificial intelligence (AI), and cybersecurity,

driven by global demand for tech

innovation. Healthcare has also gained

attention, with family offices targeting

biotech, telemedicine, and healthcare

infrastructure in response to the pandemic’s

lessons. Additionally, renewable

energy investments, particularly in solar

and wind technologies, align with the

UAE’s sustainability goals. By 2030, the

renewable energy and technology sectors

Thanks to the visionary

leadership, the UAE has

placed great importance

on enhancing the growth

of family businesses,

as they are a major

contributor to supporting

the competitiveness

and sustainability of the

national economy.”

H.E. Abdulla bin Touq Al Marri,

UAE Minister of Economy

are expected to make up a substantial

portion of family office investments,

reflecting their forward-looking focus

on future-ready industries.

Regulatory Framework and Government

Initiatives

The UAE government has introduced

several initiatives to support the establishment

and operation of family offices.

Investor-friendly policies, such as 100%

foreign ownership in specific sectors,

simplified business setup processes,

and tax exemptions in free zones, make

the UAE an attractive investment hub.

Economic free zones like the Dubai

International Financial Centre (DIFC)

and Abu Dhabi Global Market (ADGM)

provide advanced legal frameworks,

favourable tax regimes, and access to a

global network of financial services. Additionally,

government initiatives promoting

entrepreneurship offer family offices

opportunities to invest in high-potential

ventures, fostering innovation. These

measures have significantly lowered barriers

for both foreign and local investors,

enhancing the UAE’s appeal as a wealth

management destination.

Economic Contributions

The rise of family offices in the UAE has

had a significant economic impact. Major

family offices, such as Dubai Holding

LLC, which manages assets worth around

USD 35 billion, drive economic activity

across multiple sectors. They directly

employ thousands in finance, legal, and

administrative roles, while also generating

indirect employment through investments

in various industries. By allocating resources

to non-oil sectors, family offices

contribute to the UAE’s vision of reducing

its dependence on hydrocarbons, fostering

economic diversification, and promoting

sustainable growth. These contributions

are essential to the country’s long-term

economic development.

Challenges Faced by the Family Offices

Despite the favourable environment,

family offices in the UAE face challenges

such as regulatory compliance, talent

shortages, and global market volatility.

Keeping up with evolving local and international

regulations demands significant

resources and expertise. Attracting

skilled professionals in wealth management

remains a challenge, requiring

investment in training and development.

Additionally, economic uncertainties and

fluctuating markets necessitate robust

risk management strategies to protect

investments. Addressing these challenges

is vital for ensuring the sustained growth

and success of family offices in the UAE,

allowing them to continue contributing

to the country’s economic development.

Future Outlook

The UAE’s strategic vision and ongoing

reforms point to a promising future for

family offices. The government’s emphasis

on sustainability, technology, and

innovation aligns with global trends, positioning

the country as a leader in wealth

management. As part of this vision, the

number of family offices in the UAE is

expected to double by 2030, reinforcing

its status as a global financial hub.

With continued government support and

a focus on future-ready sectors, family

offices are poised to play an even greater

role in shaping the UAE’s economic future,

ensuring long-term prosperity for both

local and international stakeholders.


Local News

UAE Signs Three Deals for Sustainable Growth in Asia, Africa

In a bid to expand its global economic

footprint, the UAE has signed three

crucial strategic agreements aimed

at promoting sustainable growth across

Asia and Africa. These agreements are

focused on strengthening economic

cooperation between the UAE and key

emerging markets in both regions. They

will facilitate increased investments in

green energy projects, support largescale

infrastructure development, and

promote sustainable practices in industries

such as agriculture, transportation,

and manufacturing. As part of its commitment

to international collaboration,

the UAE will also focus on enhancing

renewable energy investments, which

will not only boost energy security

in these regions but also contribute

to global efforts to combat climate

change. The agreements reflect the

UAE’s long-term vision to foster sustainable

economic expansion, position

itself as a leading global investor, and

increase its influence in these rapidly

developing markets.

Neom Unveils Hidden

Marina in First Phase

of The Line

As part of the first phase of its

groundbreaking Neom project,

Saudi Arabia has unveiled plans

for a hidden marina, which will serve as

a luxury waterfront destination within

the futuristic linear city known as

The Line. The marina is set to feature

cutting-edge design elements and sustainable

infrastructure that align with

Neom’s broader vision of creating an

innovative and environmentally-friendly

urban space. The Hidden Marina will

be developed as a unique and exclusive

destination for luxury yachts, attracting

high-net-worth individuals and global

investors looking for premium real estate

and exclusive services. The project is

expected to enhance the appeal of The

Line as a global hub for futuristic living,

offering an eco-conscious lifestyle with

integrated technology and green infrastructure.

This addition to the Neom

development reflects Saudi Arabia’s

broader ambition to establish itself as a

leader in futuristic urban planning and

sustainable city development.

UAE Continues AED Bond Issuances to Strengthen

Local Market

The UAE has reaffirmed its dedication

to reinforcing the local

financial market by continuing its

issuance of AED-denominated bonds.

This strategic move is designed to

deepen liquidity, expand the range of

investment options available to both

institutional and retail investors, and

further develop the country’s capital

markets. The government’s ongoing

bond issuances are part of its broader

In a move to align with global tax

reforms, the UAE Ministry of Finance

has introduced a new Cabinet

decision that implements a top-up tax

for multinational enterprises. This tax

is part of the OECD’s global initiative

under the Pillar Two framework, which

aims to ensure that large corporations

contribute a minimum level of tax

regardless of where they operate. By

introducing this top-up tax, the UAE

ensures that multinational companies

operating within its borders meet the

new international tax standards while

continuing to maintain the country’s

attractive business environment. The

new measure is expected to enhance

transparency and promote tax compliance,

as it will hold multinational

enterprises accountable for paying a

fair share of taxes. The initiative is also

in line with the UAE’s broader strategy

strategy to reduce reliance on foreign

debt and enhance the country’s financial

independence. The aim is to create a

robust and stable financial environment

that attracts more investors,

both locally and internationally, and

ensures the continued growth of the

economy. In addition to enhancing

market liquidity, these bond issuances

are also expected to support long-term

financial sustainability.

UAE Introduces Top-Up Tax for Multinational

Enterprises

of diversifying its economy, attracting

foreign investment, and promoting

sustainable long-term economic growth.


Dubai Taxi Company CEO on Expansion and Innovation

Mansoor Alfalasi, the CEO of

Dubai Taxi Company (DTC),

has shared exciting insights

into the company’s growth plans,

technological innovations, and sustainability

efforts. DTC is focused on

expanding its fleet, integrating stateof-the-art

technology, and enhancing

its customer experience through

ongoing digital transformation initiatives.

As part of its expansion strategy,

DTC plans to increase the number of

electric and hybrid taxis in its fleet,

contributing to Dubai’s broader sustainability

goals and reducing the carbon

footprint of urban transportation.

Alfalasi highlighted the importance of

smart mobility solutions and the integration

of artificial intelligence (AI) in

shaping the future of transportation.

In response to the growing demand

for modern mobility services, DTC

is also working on introducing new

services, including luxury taxis and

autonomous vehicles.

Dubai Loop Set to Revolutionize

Urban Mobility

and Public Health

The Dubai Loop, an innovative

project by Elon Musk’s The

Boring Company in partnership

with RTA, promises to transform urban

mobility and improve public health

for cyclists and pedestrians, according

to Louise Bou Rached, Director

of Sales, Middle East, Turkey, and

Africa, at Milestone Systems. Drawing

inspiration from European cities

like Copenhagen, where cycling and

walking dominate, she emphasized

the importance of integrating the Loop

with existing transportation systems in

Dubai. Unveiled at the World Governments

Summit, the Dubai Loop aims

to reduce travel times with electric

vehicles reaching speeds of 160 km/h.

By utilizing AI technology to analyze

real-time traffic and commuter data,

it will optimize passenger flow, reduce

congestion, and create a seamless,

connected transportation ecosystem

for all users.

UAE’s Alpha Data to Sell 40% Stake in IPO

Alpha Data, a prominent IT services

provider based in the UAE, has

announced its plans to sell a 40%

stake through an initial public offering

(IPO). This significant move comes as the

company aims to take advantage of the

growing investor interest in technology

companies within the region, which

has seen rapid development over the

past few years. The IPO is expected to

provide Alpha Data with a substantial

influx of capital, which will be used

to expand its operations, particularly

Abu Dhabi has introduced a set

of new regulations that allow

businesses to operate in the UAE

without the need for a physical office

space. This new framework aims to support

the growing trend of remote work

and digital entrepreneurship, offering

greater flexibility to businesses, particularly

startups and small enterprises.

By allowing companies to register and

operate officially without the traditional

requirement for a physical business

in the areas of digital transformation

and innovation. By going public, Alpha

Data will be able to enhance its

competitive position in the market,

capitalise on new opportunities, and

extend its reach to a broader customer

base. This offering is in line with the

UAE’s broader strategy to encourage

private companies to list on the stock

exchange, thereby contributing to

the growth and diversification of the

country’s capital markets.

Abu Dhabi Announces New Rules for UAE

Businesses

premises, the new rules are expected

to significantly reduce operational costs

and encourage more businesses to set

up in the emirate. This move reflects the

UAE’s broader strategy to create a more

business-friendly environment, attract

entrepreneurs, and foster innovation

in the country. The new regulations are

also aligned with global trends towards

more flexible, digital-first work models,

making the UAE an attractive destination

for businesses.


Investment


WealthTech is revolutionising investment in MENA to enhance accessibility and efficiency.

The Rise and

Transformation

of WealthTech

in MENA

Shaping the Region’s Financial Future

through Innovative Technology Solutions

and Enhanced Investment Opportunities.

The WealthTech sector is redefining the

financial landscape in MENA, transforming

wealth management and investment

strategies. Leveraging advanced technologies

such as artificial intelligence (AI),

blockchain, and data analytics, WealthTech

enhances accessibility, transparency, and

personalisation in investment solutions.

This evolution aligns with the region’s

economic diversification and digitalisation

goals, backed by initiatives like Saudi

Arabia’s Vision 2030 and the UAE’s National

Innovation Strategy. With its rapid

growth, WealthTech is fostering financial

inclusion and attracting local and international

investors, further establishing

MENA as a global hub for innovation in

finance. The sector’s rise marks a shift

toward accessible financial services.


The integration of technology is at

the core of WealthTech’s evolution.

AI algorithms and machine learning

have enabled platforms to provide personalised

investment recommendations

based on individual risk profiles and

financial goals. Robo-advisors, one of the

most prominent WealthTech innovations,

are gaining traction in the region. These

automated platforms lower the cost of

investment services while increasing

accessibility for retail investors.

Blockchain technology is another cornerstone

of the WealthTech revolution. By

ensuring secure and transparent transactions,

blockchain has introduced a new

level of trust and efficiency in financial

operations. This is particularly relevant

in MENA, where trust in traditional financial

systems has historically varied.

Data analytics further empowers

wealth managers and platforms to predict

market trends and customise portfolios.

Companies like Sarwa in the UAE and

Rasan in Saudi Arabia have harnessed

these technologies to create user-friendly,

efficient platforms that appeal to tech-savvy

millennials and Gen Z investors.

Government Initiatives and Regulatory

Frameworks

Governments across the MENA region

play a significant role in WealthTech’s

growth. Initiatives like the UAE’s National

Fintech Agenda and Saudi Arabia’s Vision

2030 provide a strategic framework for

financial innovation. Regulatory-free zones

such as Dubai International Financial

Centre (DIFC) and Abu Dhabi Global

Market (ADGM) foster an environment

where startups can thrive.

Regulatory sandboxes within these

zones allow fintech companies to test

products in a controlled setting, ensuring

compliance and fostering innovation.

Adopting open banking frameworks

has also encouraged collaboration

between traditional banks and fintech

firms, enabling seamless integration of

WealthTech services.

Moreover, the UAE Central Bank’s

Fintech Office and similar regional initiatives

focus on balancing innovation

with consumer protection, creating

a transparent and secure investment

environment.

Investment Trends in the MENA

WealthTech Sector

The WealthTech sector in MENA has witnessed

unprecedented growth, attracting

significant global investment. In 2024, the

sector garnered over AED 1B in funding,

reflecting increasing investor confidence

in its potential. Key areas driving this

growth include:

1. Digital Wealth Platforms: These

platforms simplify the investment

process, allowing users to diversify

their portfolios across asset classes.

They cater to both novice and seasoned

investors, making wealth management

more inclusive.

2. Islamic WealthTech: With the region’s

strong cultural and religious

foundation, Sharia-compliant financial

solutions are in high demand. Platforms

offering halal investment opportunities

have gained traction, bridging the gap

between faith and financial growth.

3. Sustainability-Focused Investments:

Environmental, Social, and Governance

(ESG) criteria are becoming a priority

for younger investors. WealthTech platforms

are adapting by offering green

bonds, socially responsible mutual

funds, and other sustainability-driven

options.

Overcoming Challenges

Despite its growth, WealthTech in MENA

faces challenges that must be addressed

for sustained success. Financial literacy

remains a significant barrier, particularly

in underserved and rural areas. Many

potential investors are unaware of the

benefits or mechanisms of digital wealth

management tools.

Additionally, traditional wealth managers

and investors may resist adopting these

new technologies, perceiving them as

complex or risky. Building trust through

user-friendly interfaces, transparent

processes, and educational campaigns

is essential to bridge this gap.

Cybersecurity challenges remain a

significant concern for WealthTech adoption.

With platforms managing sensitive

financial data, the implementation of

advanced security protocols is essential.

Protecting against data breaches and cyber

threats will not only safeguard users but

also build trust, ensuring the sustained

growth and acceptance of WealthTech

solutions in the region.

Future Outlook for WealthTech

in MENA

The future of WealthTech in MENA

is bright, driven by factors such as

increasing smartphone penetration, a

Investors who embrace

AI now will be best

positioned to thrive in the

heightened competitive

landscape ahead.”

H.E. Khaldoon Khalifa Al Mubarak,

Managing Director and Group CEO,

Mubadala Investment Company

young population, and strong government

support. Analysts predict that the

market could reach USD 3B by 2030,

positioning MENA as a global leader in

financial innovation.

Emerging technologies like decentralised

finance (DeFi) and tokenisation

are expected to shape the next phase of

WealthTech’s evolution. These advancements

will not only enhance efficiency

but also open new investment avenues

for a broader audience.

As global tech firms invest in MENA,

the WealthTech sector gains momentum

through enhanced expertise, robust

funding, and cutting-edge innovation.

These contributions not only accelerate

the sector’s growth but also strengthen

its potential to position the region as a

global leader in financial technology and

transformative investment solutions.

Governments across MENA, through

initiatives like Saudi Arabia’s Vision 2030

and the UAE’s National Innovation Strategy,

actively support the sector’s expansion,

creating an environment conducive to

innovation and growth.


Merger and Acquisition News

UAE Sets New Filing Thresholds for Merger Control

The UAE has introduced new

regulations concerning merger

filings, which will come into effect

on March 31, 2025, under a revised

competition law aimed at improving

the regulatory framework for mergers

and acquisitions in the country. Under

these new rules, businesses involved in

mergers or acquisitions will be required

to notify the Ministry of Economy if

they meet specific thresholds. These

Veefin Acquires UAE’s

TradeAssets for $4.4M

Veefin Solutions Ltd, a prominent

financial technology company,

has successfully acquired a 74%

stake in TradeAssets, a UAE-based

trade finance platform, for $4.4 million.

This acquisition marks Veefin’s second

offshore acquisition, following similar

strategic expansions in other global

markets, including Singapore and India.

TradeAssets connects over 120 banks

across 35+ countries, facilitating over $4

billion in trade finance transactions over

a span of three years. The acquisition of

TradeAssets allows Veefin to strengthen

its capabilities in the areas of trade

finance, liquidity management, and risk

distribution, enhancing its overall value

proposition in the financial services

market. Veefin, which was founded in

2020, offers a suite of digital lending and

supply chain finance solutions designed

to streamline financial operations for

banks and fintech companies.

thresholds include a combined annual

turnover exceeding AED 300 million

(approximately USD 81.6 million) or if

the merging entities hold a market share

exceeding 40% in the relevant UAE market.

This move is intended to strengthen

competition law enforcement, ensuring

that mergers and acquisitions do not result

in anti-competitive practices or create

monopolies that could harm consumers

or other businesses.

Gulf Mid-Market Mergers Surge Amid Economic

Maturity

As the Gulf region’s economy

matures and global GDP growth

experiences a slowdown, international

private equity firms are increasingly

targeting mid-sized companies in

the Gulf for mergers and acquisitions

(M&A). This trend has been further driven

by Gulf-based family conglomerates,

which are looking to streamline and

consolidate their business portfolios.

Over the first nine months of 2024,

MENA recorded 522 M&A transactions,

reflecting a 9% increase compared to

the same period the previous year.

Notably, mid-market deals, typically

valued between $30 million and $250

million, have seen the most significant

growth, indicating that global investors

are seeking opportunities in the Gulf

region’s expanding and diversifying

economy.

Alpha Dhabi Secures 73.73% Stake in NCTH

Alpha Dhabi Holding, a prominent

investment firm based in the

UAE, has successfully acquired a

controlling 73.73% stake in the National

Corporation for Tourism and Hotels

(NCTH), marking a significant expansion

of its hospitality portfolio. This strategic

move involved the transfer of assets from

Alpha Dhabi Hospitality Holding LLC

and Murban Energy Limited to NCTH in

exchange for shares. With this acquisition,

NCTH’s portfolio has grown to include

four prestigious luxury properties: The St.

Regis Saadiyat Island Resort, Al Wathba,

a Luxury Collection Desert Resort & Spa

in Abu Dhabi, as well as Cheval Blanc

Randheli in the Maldives and Cheval

Blanc Seychelles. These additions bring

NCTH’s total number of hotels to eight,

encompassing nearly 1,500 rooms,

significantly enhancing its presence in

both domestic and international luxury

markets.


ADNOC Considers the U.S. Acquisitions amid Energy Boom

The UAE’s national oil company,

ADNOC, is currently evaluating

the potential for acquisitions

within the U.S. energy sector, seeking to

leverage opportunities arising from the

resurgence of oil and gas investments

under former U.S. President Donald

Trump’s pro-oil policies. ADNOC’s interest

in expanding its global footprint

is part of a broader strategy to diversify

its energy assets and strengthen its

FlyDubai Looks to

GoFirst for Indian

Market Entry

UAE-based airline Flydubai is

currently exploring the potential

acquisition of GoFirst, a

grounded carrier, as part of its strategic

push to enter the Indian aviation market.

This move aligns with Flydubai’s

broader expansion strategy, focusing

on capitalizing on India’s rapidly growing

air travel sector. If the deal goes

through, it would not only bolster

Flydubai’s presence in the region but

also provide the airline with a direct

entry into key Indian routes. Despite

facing challenges in India’s aviation

industry, including competition and

regulatory hurdles, the sector remains

highly lucrative, especially for low-cost

carriers. Flydubai’s interest in acquiring

GoFirst highlights the UAE’s growing

influence in the global aviation space

and its desire to tap into India’s booming

passenger market.

influence in the North American market.

The focus on the U.S. comes as the

country experiences a revitalization

of fossil fuel investments, creating a

conducive environment for companies

like ADNOC to expand their operations.

This expansion is particularly timely,

as shifting geopolitical dynamics and

growing demand for energy resources

globally create new opportunities for

strategic acquisitions.

Gulf Sovereign Wealth Funds Drive $36B M&A Surge

Despite the ongoing global mergers

and acquisitions (M&A) slowdown,

Gulf sovereign wealth

funds have emerged as a major driver

of deal activity, propelling a remarkable

$36 billion surge in transactions. This

surge is primarily fueled by the United

Arab Emirates (UAE) and Saudi Arabia,

two of the largest economies in the Gulf

region. These nations, unlike many other

regions facing economic uncertainty

and geopolitical tensions, are utilizing

their robust capital reserves to strategically

invest across various sectors

such as technology, infrastructure, and

energy. Their efforts not only aim to

diversify their economies but also to

solidify their global influence, as they

position themselves as key players on

the international stage.

MENA M&A Deals Slump to $55.2B in 2022

Mergers and acquisitions (M&A)

activity in the Middle East

and North Africa (MENA)

region saw a significant decline, falling

to $55.2 billion in 2022, marking

a sharp downturn compared to the

record surge witnessed in 2021. The

drop in deal-making is attributed to

the global economic challenges that

emerged during the year, including

rising interest rates and growing market

uncertainty, which led to caution

among investors. As a result, although

the UAE and Saudi Arabia continued

to be key drivers of M&A activity, the

overall number of transactions in the

region experienced a marked reduction.

Despite the slowdown, sectors such as

energy and finance remained attractive

to investors, and these industries continued

to draw attention. However, the

prevailing cautious investor sentiment

and economic unpredictability led to

fewer deals being made.


Banking


Digital-only banks shaping the future of seamless and secure banking in the UAE.

Digital-Only Banks

in the UAE: Are

They the Future of

Banking?

Revolutionising Banking with Innovation,

Convenience, Accessibility, and Personalised

Services for a Seamless Digital Experience.

Digital-only banks are transforming the

financial landscape in the United Arab

Emirates (UAE), offering customers a

seamless and efficient banking experience.

Institutions such as Liv. by Emirates

NBD, Mashreq Neo, and YAP provide

comprehensive services entirely through

digital platforms, eliminating the need

for physical branches. These banks cater

to the tech-savvy population, delivering

features like instant account opening, real-time

transaction tracking, and personalised

financial insights. The UAE’s high

smartphone penetration and supportive

regulatory environment have facilitated

the rapid adoption of these digital banking

solutions. As a result, digital-only banks

are well-positioned to lead the future of

banking in the UAE.


The UAE has witnessed a significant

shift towards digital banking in

recent years. According to the

Federal Competitiveness and Statistics

Authority, by 2019, 90% of UAE residents

utilised digital banking services, demonstrating

the increasing automation of

the country’s banking sector. This trend

accelerated further during the COVID-19

pandemic, with a 2021 survey revealing

that 9 out of 10 UAE residents now prefer

digital banking over traditional in-branch

services. This widespread adoption of

digital solutions is fostering a new era of

convenience and efficiency in financial

transactions.

Emergence of Digital-Only Banks

As the demand for digital services grew,

digital-only banks emerged as key players

in the UAE’s financial landscape. Prominent

digital-only banks such as Liv. by Emirates

NBD, Mashreq Neo by Mashreqbank, and

YAP have set the pace for the region’s

digital banking transformation. These

banks operate entirely through digital

The Ministry adopts a

proactive approach to

provide advanced financial

solutions that support

various sectors, especially

the digital economy

and advanced financial

technologies.”

H.H. Sheikh Maktoum bin Mohammed bin

Rashid Al Maktoum,

Finance Minister of the UAE

platforms, offering a full range of services,

including instant account opening,

real-time transaction tracking, and access

to personalised financial insights. Liv.

alone had over 400,000 customers by

mid-2020, highlighting the rapid adoption

of digital-only banking services. In the

past few years, these banks have gained

substantial market share due to their

ability to provide more accessible, faster,

and user-friendly services compared to

traditional banking systems. The growing

trend of smartphone and internet usage has

further bolstered the rise of digital-only

banks, which are now catering to a wide

spectrum of customers, including younger,

tech-savvy individuals and expatriates

who often require efficient international

money transfers.

Factors Driving the Digital Banking

Revolution

Several factors are contributing to the

rise of digital-only banks in the UAE:

• High Internet and Smartphone Penetration:

The UAE has an internet penetration

rate of approximately 98%, which is

among the highest in the world. This

widespread internet access, along with

a smartphone penetration rate of over

90%, provides an ideal foundation for

the growth of digital banking services.

• Demographics and Expatriate Needs:

A large proportion of the UAE’s population

comprises expatriates who often

require quick, affordable remittance

services. Digital-only banks are particularly

well-suited to address these

needs by offering competitive rates,

ease of transfer, and faster processing

times than traditional banks.

• Regulatory Support: The Central Bank

of the UAE has actively supported the

development of the country’s digital

banking ecosystem. This is evident in

initiatives like the Digital Transformation

Strategy, which aims to provide

secure and efficient digital payments

infrastructure. Moreover, the UAE

government has implemented robust

regulatory frameworks to protect consumers

while encouraging innovation

in the financial sector.

• COVID-19 Pandemic: The pandemic has

further accelerated the shift towards

digital banking as people embraced

contactless and online services. Lockdowns

and social distancing measures

led to an even higher demand for services

that could be accessed remotely,

which digital-only banks were able to

provide seamlessly.

Customer Trust and Satisfaction

Customer trust serves as an essential

component for the success of banking

models, and digital-only banks in the

United Arab Emirates have demonstrated

an ability to cultivate and sustain elevated

levels of trust among their clientele. The

UAE Banks Federation has reported a

doubling in the use of digital banking

services across various channels since

the year 2020, which reflects a growing

comfort among consumers with the online

banking paradigm. Furthermore, in 2022,

the United Arab Emirates achieved the

distinction of ranking second worldwide

in terms of customer trust, with an impressive

84% confidence level in digital

banking platforms. These statistics serve

as strong evidence of the increasing acceptance

and dependence on digital-only

banking services within the nation.

Future Outlook

The future of digital-only banks in the

UAE looks promising. In a 2022 report,

it was revealed that 19% of adults in the

UAE had a new bank account, with an

additional 15% planning to open one within

the next year. This projected adoption

rate is expected to increase to 34% by the

end of 2023. Furthermore, it is forecasted

that 41% of adults in the UAE could

have a new bank account by 2027. This

growth is largely driven by the young,

tech-savvy demographic that is more

inclined to adopt new banking models.

Digital-only banks are likely to continue

offering more personalised services and

innovative features, such as AI-driven

financial planning tools, personalised

savings goals, and advanced fraud protection.

As these banks continue to evolve,

their role in the UAE’s financial sector

will expand, particularly as they strive

to integrate with emerging technologies

like blockchain and cryptocurrency.

The UAE’s banking sector is transforming,

and digital-only banks are at the heart of

this revolution. With high internet and

smartphone penetration, a young and

tech-savvy population, and supportive

regulatory frameworks, digital-only banks

are well-positioned to lead the future of

banking in the UAE. As adoption rates

continue to rise, digital-only banks will

redefine the way consumers interact with

financial services, offering greater convenience,

efficiency, and accessibility. The

rise of these banks marks a new era for

the UAE, where digital banking is poised

to dominate the financial landscape in

the coming years.


Glossary

of Banking

A-Z& Finance

The world of banking and finance is filled with complex terms, but understanding

them is key to making informed financial decisions. This A-Z glossary

breaks down important concepts in a clear and accessible way, helping

everyone stay ahead in the ever-evolving financial landscape.

A

for AML (Anti-

Money Laundering)

Regulations that act as

a security shield, preventing

financial crimes like fraud,

terrorism financing, and

illegal fund transfers.

B

for Basel III

A global banking

safety net, ensuring

banks have enough capital

to withstand financial crises

and economic downturns.

Cfor CBDC (Central

Bank Digital Currency)

A digital version of a

national currency, issued by

the central bank, providing a

secure alternative to physical

cash - think Digital Dirham.

D

for Debt-to-Equity

Ratio (D/E Ratio)

A key metric that

assesses how much a

bank owes versus owns,

helping investors measure

financial stability.

E

for Embedded Finance

Buy Now, Pay Later

(BNPL) and in-app

payments are prime examples

of finance seamlessly

integrated into daily life.

F

for FinTech (Financial

Technology)

A game-changer for

banking. FinTech innovations

like AI, blockchain, and

robo-advisors are redefining

financial services.

G

for Green Banking

Finance that supports

a sustainable future.

Banks investing in ecofriendly

projects and green

bonds to drive climateconscious

growth.

H

for Hawala

A centuries-old,

trust-based money

transfer system, widely used

for cross-border remittances

in the UAE and beyond.

I

for Islamic Banking

A Sharia-compliant

banking model that

eliminates interest (riba)

and focuses on ethical

financing principles like

Murabaha and Mudarabah.

J

for Joint Account

A single account,

shared by two or more

individuals, often used by

business partners or families

for financial management.

K

for KYC (Know

Your Customer)

A mandatory

verification process where

banks authenticate customer

identities to prevent fraud

and money laundering.

L

for Liquidity Coverage

Ratio (LCR)

A financial stress test

ensuring banks have enough

high-quality liquid assets to

survive economic turmoil.


M

for Mudarabah

An Islamic finance

partnership

where one party provides

capital, the other manages

business operations, and

profits are shared fairly.

N

for Neobanks

Fully digital banks

with no physical

branches, offering

streamlined, customercentric

financial services.

O

for Open Banking

A revolutionary

approach where

customers control their

banking data, enabling

seamless financial integration

with third-party apps.

P

for Private Banking

Exclusive financial

services designed for

high-net-worth individuals

(HNWIs), providing bespoke

investment and wealth

management solutions.

Q

for Qard Hasan

A benevolent,

interest-free loan

offered in Islamic finance

to support individuals

and businesses in need.

R

for RegTech

(Regulatory

Technology)

AI-powered compliance

tools that help banks detect

fraud, monitor transactions,

and stay audit-ready.

S

for Sukuk

(Islamic Bonds)

A halal alternative to

bonds, where investors gain

a share in a tangible asset

instead of earning interest.

T

for Trade Finance

A critical banking

service that facilitates

global trade through letters of

credit, supply chain finance,

and export insurance.

U

for Universal Banking

A one-stop banking

model where commercial

banking, investment services,

and insurance operate

under one institution.

V

for Venture Debt

A startup-friendly

financing model that

provides funding without

requiring equity dilution.

W

for Wealth

Management

A tailored approach

to investment, estate planning,

and asset management, ensuring

financial growth and security

for affluent individuals.

X

for XVA (Valuation

Adjustments)

A risk-pricing tool

banks use to ensure fair

value calculations in complex

financial transactions.

Y

for Yield Curve

A graph that predicts

economic trends by

analyzing bond interest rates

over different time frames.

Z

for Zero-Balance

Account (ZBA)

A corporate banking

solution where accounts maintain

a zero balance, transferring

funds only when required.


FinTech


The metaverse blends virtual reality and blockchain to reshape financial transactions.

How the

Metaverse is

Shaping Financial

Innovation

Exploring the Role of Virtual Reality in

Revolutionising the Financial Sector with

Immersive Technologies.

The metaverse, an interconnected digital

realm powered by virtual reality (VR),

augmented reality (AR), and blockchain

technology, is reshaping the global financial

landscape. This innovative convergence

enables revolutionary approaches

to conducting transactions, managing

wealth, and accessing diverse markets.

UAE-based financial leaders are pioneering

its integration, emphasising its potential

to enhance customer experiences and

drive operational efficiency. As investments

in the metaverse surge globally,

its role in fintech expands, fostering a

more inclusive financial ecosystem. By

redefining accessibility and introducing

cutting-edge solutions, the metaverse is

set to empower institutions, unlocking

unprecedented opportunities.


The metaverse is emerging as a

transformative force in the financial

world, blending blockchain

technology and decentralised finance

(DeFi) to reshape how people interact

with money. By creating interactive,

secure, and transparent platforms, the

metaverse introduces new possibilities

for financial transactions. These virtual

spaces are not only platforms for

exchanging assets but also venues for

investment seminars, virtual banking

consultations, and decentralised lending.

By reducing geographical barriers, they

offer accessibility like never before.

Blockchain lies at the heart of these

innovations, ensuring data security and

transparency. Smart contracts streamline

transactions, while digital currencies

and non-fungible tokens (NFTs) enable

seamless virtual payments. With banks

and businesses increasingly exploring

this realm, the metaverse stands poised

to revolutionise the financial sector.

To an extent, the

metaverse is still

uncharted territory and we

are yet to fully understand

it. Through the metaverse,

we can transcend a

multitude of boundaries.”

H.E. Khalfan Belhoul,

CEO, Dubai Future Foundation

Key Innovations Driving Financial

Metaverse Adoption

Digital currencies: Cryptocurrencies and

NFTs serve as the backbone of metaverse

transactions. They enable users to pay

for goods, services, or investments with

ease. The decentralised nature of these

currencies eliminates intermediaries,

reducing costs and transaction times.

Virtual banking: Financial institutions

are leveraging virtual reality (VR) to set

up metaverse branches. For example,

customers can engage in immersive

consultations and interactive services,

enhancing overall user experience.

Emirates NBD is among the UAE banks

exploring such possibilities.

Smart contracts: Blockchain-based

smart contracts automate financial

agreements, removing the need for

intermediaries and ensuring efficiency.

These programmable agreements execute

transactions only when predefined

conditions are met.

Leading the Metaverse Charge

The UAE has positioned itself as a pioneer

in adopting the metaverse within

its financial sector. Recognising its

transformative potential, Dubai’s Virtual

Assets Regulatory Authority (VARA) has

introduced a comprehensive framework to

regulate virtual assets. These regulations

foster innovation while safeguarding users.

Banks like Emirates NBD and Abu Dhabi

Commercial Bank are experimenting with

metaverse branches to offer immersive

financial services. Meanwhile, Dubai

International Financial Centre (DIFC)

supports fintech startups dedicated to

advancing metaverse technologies.

A PwC Middle East report highlights the

metaverse’s potential to add up to USD

15B to the GCC economy by 2030, with

financial innovation being a significant

contributor. This projection underscores

the region’s strategic focus on integrating

futuristic technologies.

Hamed Ali, CEO of Nasdaq Dubai

and DFM, states: “The UAE’s proactive

approach to technology is transforming

our financial landscape. The metaverse

aligns seamlessly with this vision.”

Enhancing Financial Inclusion

One of the metaverse’s most significant

contributions is its ability to enhance

financial inclusion. By removing physical

infrastructure barriers, the metaverse

democratises access to banking, insurance,

and investments, especially for

underserved populations.

Virtual marketplaces: These platforms

empower micro-entrepreneurs by

providing global access to customers.

Anyone with an internet connection

can participate in trade, overcoming

traditional entry barriers.

Decentralised lending platforms:

Offering loans without the need for traditional

credit checks, these platforms

provide financial support to those excluded

from conventional banking systems.

Moreover, the metaverse’s use of

avatars allows individuals to interact

anonymously, reducing biases often

experienced during face-to-face financial

interactions. This feature ensures a level

playing field for everyone, irrespective

of their background.

Challenges Hindering Financial

Metaverse Adoption

While the metaverse presents exciting

opportunities, it is not without challenges.

Some of the critical issues include:

Regulatory concerns: Governing

decentralised systems requires robust

policies to protect users and prevent misuse.

Ensuring compliance while fostering

innovation is a delicate balancing act.

Data security: Protecting sensitive

financial information in virtual environments

is paramount. The rise of cyberattacks

poses significant risks, necessitating

advanced cybersecurity measures.

Adoption hurdles: Incorporating

metaverse technologies such as VR and

blockchain into traditional financial

systems demands substantial investment.

Education and training are also essential

to familiarise users with these innovations.

Governments and financial institutions

must collaborate to address these issues.

By creating strategic frameworks, they

can ensure that the metaverse’s potential

is fully realised while minimising risks.

The UAE’s Vision for a Metaverse-Powered

Economy

The Dubai Metaverse Strategy aims to

create 40,000 new jobs and add USD 4B

to its economy by 2030. Financial innovation

plays a crucial role in achieving

this vision, with VARA and DIFC leading

the charge.

The metaverse is not merely a technological

trend; it represents a paradigm shift

in the financial industry. By combining

decentralised systems, and blockchain,

it creates an inclusive ecosystem that

transcend traditional boundaries.


FinTech News

Mashreq, NEO PAY to Launch PoS Lending Solution for SMEs in UAE

Mashreq has partnered with NEO

PAY to introduce a Point-of-

Sale (PoS) lending solution

for SME merchants in the UAE. This

collaboration allows merchants to

access both payment processing and

funding services through the NEO

PAY platform. The initiative follows

Mashreq’s sale of a majority stake in

NEO PAY for US$385 million, aligning

with its strategy to boost digital

financial services. The lending facility

enables merchants to secure financing

based on their sales data, bypassing

traditional credit checks. Repayments

are linked to sales, helping businesses

manage financial pressure during

slower periods and obtain working

capital without waiting for approval

from traditional lenders.

Third Cohort of ENBD’s Talent Incubator Concludes

Emirates NBD successfully concluded

the third cohort of its

National Digital Incubator (ND-

TI) programme, designed to empower

Emirati fintech entrepreneurs. In

partnership with the DIFC Innovation

Hub, Visa, Microsoft, and Dell

Technologies, the initiative provided

participants with industry insights,

mentorship, and networking opportunities.

This year, Essa Kazim, Governor

of DIFC, shared insights, reinforcing

the programme’s alignment with the

UAE’s economic strategy. The cohort

engaged in Discovery Day, customising

the programme to their needs, and

participated in the DIFC Future Sustainability

Forum. Maryam Al Ansari,

a participant, presented at the Dell

Technologies Forum – AI Edition 2025.

An international trip to Egypt offered

exposure to venture capitalists and

startups. The programme concluded

with final presentations to Emirates

NBD executives.

Dubai Integrates Tabby

into DubaiPay

The Dubai government has unveiled

its partnership with Tabby, a prominent

buy-now-pay-later service,

to integrate its platform into DubaiPay.

This collaboration is designed to enhance

the convenience and flexibility of digital

payment options for both residents and

visitors. By offering an innovative payment

solution, the integration allows users to

manage their purchases and payments

more effectively, reinforcing Dubai’s commitment

to providing seamless and efficient

financial services. This move aligns with

the city’s broader digital transformation

goals, further strengthening its position

as a global hub for financial innovation

and modern payment solutions.

Alldigi Tech and Lulu Financial Collaborate on

Payroll Solutions

Alldigi Tech, a leading provider of

digital solutions, has formed a

strategic partnership with Lulu

Financial Holdings to develop cutting-edge

payroll and Human Resource

Management System (HRMS) solutions

specifically designed to meet the needs

of small and medium-sized enterprises

(SMEs). This collaboration aims to

modernize and streamline financial

and human resource operations, empowering

SMEs with advanced digital

tools that make managing payroll and

HR processes much more efficient. The

solutions being introduced will not

only automate many of the traditional

manual processes but will also offer

greater flexibility and scalability for

businesses as they grow. By improving

these critical systems, the partnership

seeks to enhance operational workflows,

reduce the risk of human error,

and help SMEs stay on top of their

financial and workforce obligations.


Etihad Credit Insurance

Joins the KYC

Blockchain Platform

Etihad Credit Insurance, a key

player in the UAE’s insurance

market, has entered into a partnership

with a cutting-edge Know Your

Customer (KYC) blockchain platform

to improve the efficiency and security

of client verification processes. This

collaboration leverages blockchain

technology to streamline the traditional

KYC process, offering a faster, more

secure, and transparent alternative

to existing methods. By digitizing the

verification process, the platform not

only reduces the risk of fraud but also

enhances the customer experience by

expediting access to financial services.

The integration of blockchain ensures

secure data storage, minimizing the

risk of manipulation and strengthening

compliance with regulatory standards.

Additionally, automation improves

transparency, and fosters greater trust

among users.

Paymob Partners with Woo to Revolutionize

E-Commerce in MENA

Paymob, a leading payment solutions

provider, has teamed up with Woo

to revolutionise e-commerce in

the Middle East and North Africa (ME-

NA) region. The partnership seeks to

deliver seamless payment experiences

for businesses and consumers, simplifying

transactions and enhancing the

overall digital commerce landscape. By

combining Paymob’s robust payment

infrastructure with Woo’s innovative

e-commerce platform, the collaboration

aims to drive growth in the region’s

rapidly expanding digital economy.

This initiative is expected to support

businesses in offering convenient,

secure, and efficient payment options,

further accelerating the growth of

online retail across MENA.

Abu Dhabi Islamic Bank Adopts SWIFT’s Alliance

Cloud Platform

Arab Financial Services

Expands into UAE

Abu Dhabi Islamic Bank has

embraced SWIFT’s Alliance

Cloud platform to enhance its

payment processing capabilities. This

adoption aims to improve transaction

efficiency and security, providing

clients with a more reliable and

streamlined banking experience. By

leveraging the cloud-based solution,

the bank seeks to optimise its payment

operations, ensuring faster, safer transactions

while supporting the growing

demand for digital banking services.

The move reflects Abu Dhabi Islamic

Bank’s commitment to innovation

and its focus on maintaining high

standards of security and operational

efficiency in an increasingly digital

financial landscape.

Arab Financial Services has

extended its operations into

the United Arab Emirates, bolstering

its presence in the Gulf region.

This strategic expansion will enable

the company to offer a wider array of

financial services to businesses and

consumers in the UAE. By tapping

into the UAE’s dynamic economy, Arab

Financial Services aims to cater to the

growing demand for digital payment

solutions and financial products, supporting

the nation’s ambitious economic

goals. The move underscores the

company’s commitment to expanding

its footprint and providing enhanced

financial services across the region,

contributing to the UAE’s position as

a financial hub.


Cover Story

HOLDS

47%

MARKET SHARE


INNOVATION

20

25

EXPANSION

SUSTAINABILITY

20

- 29

MANSOOR ALFALASI

Chief Executive Officer,

Dubai Taxi Company (DTC)


Cover Story

Exclusive Interview with FinanceWorld

As the world continues to evolve

towards smarter, more sustainable

urban mobility solutions, Dubai

Taxi Company (DTC) stands at the

forefront of this transformation in the

Emirate’s transportation landscape. In

a recent interview, Mansoor Alfalasi,

the CEO of DTC, shared key insights

on the company’s strategic vision for

2025-2029, outlining its growth plans.

Focusing on innovation, sustainability,

and growth, DTC is working to enhance

its digital infrastructure, expand its ecofriendly

fleet, and integrate cutting-edge

technologies such as AI and autonomous

vehicles. Alfalasi also discusses DTC’s

key partnerships, including its exclusive

collaboration with Dubai Airports, and

how these initiatives are set to redefine the

future of mobility in Dubai and beyond.

Q: Can you provide a brief overview

of DTC’s 2025-2029 strategy? How

does the company plan to drive

innovation, and sustainability in

Dubai’s transportation sector?

DTC’s strategic plan for 2025-2029

focuses on maintaining market leadership

through innovation, growth, and

sustainability. Our vision is to be the

preferred mobility choice for everyone

by enhancing our digital ecosystem,

leveraging data-driven insights, and

delivering seamless customer experiences

across all our services. To


AED124.5 M

AS REVENUE FROM LIMOUSINE

SEGMENT WITH 8% YOY GROWTH

12%

11%

2.3X

REVENUE GROWTH

IN FY 2024

YOY GROWTH IN

THE BUS SEGMENT

GROWTH IN DELIVERY BIKE

SEGMENT DOUBLING ITS FLEET

SIZE IN 2024

sustain our competitive edge, we are

investing in cutting-edge technologies

such as AI-powered dispatch systems,

predictive analytics for demand forecasting,

and comprehensive digital

payment solutions. By integrating these

advancements, we aim to optimize

efficiency, improve service reliability,

and enhance the overall customer experience.

Additionally, we are forging

strategic partnerships with technology

providers to develop mobility solutions

that address the evolving needs of

Dubai’s residents and visitors. This

collaborative approach ensures we

remain at the forefront of the industry

while fostering a more innovative and

dynamic transport ecosystem.

A key pillar of our strategy is sustainability,

aligning with the Dubai 2040

Urban Master Plan and government

transportation goals. With over 86% of

our fleet already consisting of hybrid

or electric vehicles, we are committed

to further expanding our eco-friendly

fleet and adopting green technologies to

reduce emissions and support Dubai’s

environmental initiatives. By prioritizing

sustainability, we not only contribute

to a cleaner future but also reinforce

our role as a responsible leader in the

mobility sector.

Dubai’s positive economic outlook,

fueled by population growth and a thriving

tourism sector, presents a strong

opportunity for mobility services. As the

city continues to expand, the demand

for efficient and sustainable transport

solutions will grow. By aligning our

strategic investments with these trends,

DTC is well-positioned to drive innovation,

enhance customer experiences,

and ensure long-term success in the

evolving mobility landscape.

Q: Dubai’s leadership is actively

driving a smart, sustainable, and

connected future. How does DTC

align with the government’s broader

vision, and what role does it play

in shaping the future of mobility

in the Emirate?

DTC is committed to developing a

robust and smart public transportation

infrastructure that aligns with the UAE

and Dubai Government’s Smart City

initiatives and Sustainable Development

Our strategic alliance

with Bolt is a significant

step toward this vision,

as we work to establish

the UAE’s most extensive

e-hailing platform.”

objectives. As a key player in transforming

Dubai’s mobility ecosystem,

we are dedicated to enhancing digital

mobility solutions and shaping the

future of transportation in the region.

This initiative directly supports the

Dubai Government’s goal of converting

80% of taxi journeys to e-hailing services,

improving efficiency, accessibility, and

customer convenience. In parallel, we

are reinforcing our commitment to

environmental sustainability with the

acquisition of 250 new electric vehicle

license plates, bringing our eco-friendly

fleet to over 86%, far surpassing

the Roads and Transport Authority’s

2027 requirements. To accelerate this

transition, we are collaborating with

leading electric vehicle manufacturers

and the Dubai Electricity and Water

Authority (DEWA), ensuring a seamless

shift towards a more sustainable and

technologically advanced transportation

network. By investing in electric and

autonomous vehicles, AI-driven fleet

management systems, and enhanced

digital connectivity, DTC continues

to drive innovation in mobility. These

efforts not only enhance the efficiency

of our services but also solidify Dubai’s

position as a global leader in smart

transportation solutions.

Q: Autonomous vehicles are transforming

urban mobility worldwide.

How does DTC plan to integrate

driverless taxis into Dubai’s transport

network by 2026?

Dubai Taxi Company (DTC) is set to

introduce autonomous taxis by early 2026,

aligning with the Dubai Autonomous

Strategy, which aims for 25% of all transportation

trips to be driverless by 2030.

In close collaboration with the Roads

and Transport Authority (RTA), we are

actively working on regulations, safety

protocols, and operational standards

to ensure a seamless transition toward

autonomous mobility. This strategy extends

beyond taxis, encompassing the

integration of self-driving technology

across multiple transportation modes,

including limousine services.

To bring this vision to life, DTC is

partnering with leading technology

companies to deploy self-driving taxis

in Dubai. Our approach includes

comprehensive testing, infrastructure


Cover Story

adaptation, and strict regulatory compliance,

ensuring a safe, efficient, and

customer-centric implementation. Safety

and reliability remain our top priorities,

and we leverage artificial intelligence

and real-time data analytics to optimize

the integration of autonomous vehicles

into our fleet. By embracing cutting-edge

innovations, DTC continues to shape

the future of smart mobility in Dubai.

Q: With expansion plans beyond

Dubai, what are the key considerations

for bringing DTC’s services

to other emirates?

As part of its expansion strategy,

Dubai Taxi Company (DTC) has forged

partnerships with local and international

organizations specializing in

intelligent and sustainable transportation

solutions. These collaborations

enable us to customize services to meet

regional needs while maintaining our

high standards of efficiency, safety, and

customer satisfaction. By strengthening

our technological capabilities and

expanding our service portfolio, these

partnerships play a crucial role in DTC’s

growth and innovation.

Key collaborations include ENOC,

Talabat UAE, Tabby, and most notably,

a strategic alliance with Bolt, a global

mobility platform. This partnership aims

to establish the UAE’s largest e-hailing

platform, enhancing customer experiences

and boosting DTC’s profitability.

We are proud to

announce that Bolt has

successfully completed

2 million trips since

launching in December

2024.”

Looking ahead, we plan to integrate

taxi services on the Bolt platform while

exploring expansion into other emirates

and diversifying into last-mile delivery

and car rental services.

Expanding beyond Dubai requires

careful strategic planning, considering

factors such as regulatory environments,

market demands, and infrastructure

readiness. By taking a measured and

forward-thinking approach, DTC is

well-positioned to grow its footprint

while continuing to lead in smart and

sustainable mobility solutions.

Q: As the largest taxi operator in

Dubai with a 47% market share, what

strategies are in place to maintain

and expand your leadership in the

mobility sector?

DTC currently holds a 47% market

share, maintaining its competitive edge

through continuous service innovation.

Our strategic initiatives focus on digital

transformation, including fleet integration

with e-hailing platforms, modernization

of our vehicles, and strategic

partnerships with key stakeholders

such as Dubai Airports and ports. We

are also strengthening our presence at

major city events. Additionally, we are

expanding our portfolio of premium

and specialized mobility solutions to

meet diverse customer needs, with

offerings such as In Safe Hands and

other tailored services.

FLEET SIZE OF

9500+

INCLUDES

6100+

TAXIS

1,100

BUSES

86%

250

500

LIMOUSINES

1,800

DELIVERY BIKES

HYBRID/ELECTRIC

FLEET, WITH A

GOAL TO ACHIEVE 100% BY 2027

NEW EV PLATES

ACQUIRED TO

EXPAND THE ECO-FRIENDLY FLEET

Q: DTC currently operates with

more than 9,500 vehicles, serving

multiple business lines. How do you

manage operational efficiency while

maintaining service quality and

customer satisfaction on a scale?

To enhance efficiency, we leverage

AI and machine learning through the

Tableau system, analyzing vast data

sets to predict demand and automatically

dispatch vehicles to high-traffic

areas. This data-driven approach not

only increases journeys per vehicle but

also reduces fuel consumption. Beyond

technology, we prioritize driver training

and customer service enhancements

to uphold the highest standards of

safety and comfort. By integrating big

data analytics for predictive demand

forecasting, implementing automated

dispatch systems, investing in smart

mobility solutions, and conducting

preventive maintenance, we optimize

fleet utilization, minimize downtime, and

enhance overall operational efficiency.

Q: With sustainability as a priority,

how do you plan to transition

towards a fully green fleet? What

is your approach to integrating

electric and hybrid vehicles into

the fleet?

Sustainability is at the core of DTC’s

strategic vision, aligning with the Dubai

2040 Urban Master Plan and the Dubai

Government’s transportation goals. With

over 86% of our fleet now consisting

of electric and hybrid vehicles, we

are steadily progressing toward the

Roads and Transport Authority’s target

of achieving a 100% environmentally

friendly fleet by 2027. To support this

transition, we are collaborating with

leading electric vehicle manufacturers

and charging infrastructure providers

such as DEWA. We have already installed

approximately 35 charging stations, with

more in the pipeline, ensuring seamless

support for our growing electric fleet.

Our goal is to significantly reduce

emissions while maintaining the highest

standards of service excellence.

Q: DTC has seen impressive financial

growth in FY 2024. What key factors

contributed to this performance,

and what are your business targets

for 2025?

DTC’s financial success in 2024 was

driven by strategic expansion, digital

transformation, and enhanced operational

efficiency, resulting in a 12%

annual revenue growth. This growth

was fueled by several key factors. We

expanded our fleet and market presence

by acquiring 994 new taxi plates,

bringing our operational taxi fleet to

5,960 vehicles by year-end. Our limousine

segment saw an 8% year-on-year

revenue increase, reaching AED 124.5


million, supported by fleet expansion.

The bus segment grew by 11% year-onyear,

driven by new service contracts

and fleet additions. Meanwhile, our

delivery bike segment experienced

extraordinary growth, expanding 2.3

times through partnerships with major

delivery aggregators and doubling its

fleet size.

Our performance was further strengthened

by Dubai’s favorable macroeconomic

conditions, tourism growth,

and rising population, all of which

continue to drive demand for our

services. Looking ahead, we remain

committed to executing our corporate

strategy effectively, with significant

growth opportunities on the horizon.

Our success in recent RTA auctions

highlights our strong market position

in Dubai, and we are set to build on

this momentum.

Notably, our delivery bike segment

continues to see exponential growth,

supported by overall market expansion

and strategic partnerships. We are also

extending our delivery bike services to

Abu Dhabi through our collaboration

with Talabat, aiming to replicate our

Dubai success. These initiatives will

ensure sustained financial strength,

robust free cash flow, and enhanced

shareholder value through an attractive

dividend policy.

Q: Your recent exclusive partnership

with Dubai Airports is a major

milestone. What does this deal

mean for DTC strategically, and

what factors led to securing this

partnership?

Dubai Taxi Company (DTC) has

secured a five-year exclusive strategic

partnership with Dubai Airports to provide

taxi services at Dubai International

(DXB) and Dubai World Central - Al

Maktoum International (DWC). This

agreement reinforces DTC’s position

as Dubai’s leading mobility services

provider, strengthening its long-standing

relationship with Dubai Airports.

DTC’s partnership with Dubai Airports

dates back to 1997, when the company

began operations with just 100 taxis.

Since then, DTC has evolved into

Dubai’s top taxi operator by market

share, offering a state-of-the-art fleet

of approximately 900 taxis today. This

includes 700 dedicated airport taxis,

specialized pink taxis for families, women,

and children, as well as accessible

vehicles for People of Determination.

Additionally, DTC operates around

500 premium limousines, ensuring

high-end transportation services. This

partnership is vital in catering to the

increasing number of passengers at

Dubai Airports, which welcomed 93

million travelers in 2024, resulting

in approximately 6 million limousine

and taxi trips. By enhancing airport

mobility solutions, DTC continues to

set the benchmark for service excellence,

ensuring seamless connectivity

and a superior passenger experience.

93 MILLION

GUESTS WERE WELCOMED IN 2024,

ACROSS DXB AND DWC AIRPORTS

AED 2.5 B

IN REVENUE IS ESTIMATED OVER

THE NEXT FIVE YEARS

8 MILLION

ANNUAL TAXI AND LIMOUSINE

TRIPS ARE EXPECTED BY 2029

Q: Finally, what is DTC’s long-term

vision for shaping the future of

mobility? How do you plan to remain

at the forefront of Dubai’s

transportation transformation?

Dubai Taxi Company’s strategic plan

for 2025-2029 focuses on innovation,

growth, and sustainability, aimed at

maintaining its position as the preferred

mobility provider. The strategy

prioritizes enhancing the company’s

digital infrastructure, leveraging data

analytics, and delivering exceptional

customer experiences as core elements

of service. To sustain its market leadership,

Dubai Taxi Company is investing

heavily in cutting-edge technologies,

including AI-powered dispatch systems,

predictive demand forecasting,

and robust digital payment platforms.

Additionally, the company is forging

strategic technological partnerships

to collaboratively develop solutions

that address the evolving needs of

both residents and visitors in Dubai.

By balancing competitive differentiation

with collaborative engagement,

Dubai Taxi Company is committed to

maintaining its industry leadership and

contributing to the development of a

seamless, technologically advanced

transportation ecosystem in Dubai.


Opinion

Dr. Yasar Jarrar

Managing Partner at Gov Campus,

Partner at The Posterity Institute,

Professor at Hult International

Business School (UAE/USA)

GCC’s Economic Shift:

From Oil Reliance to an

Innovation-Driven Future


The Gulf Cooperation Council

(GCC) economic landscape is

undergoing a seismic shift, marked

not by the dwindling reserves beneath

its lands but by a bold leap into diverse

sectors poised to define the future. GCC

countries—namely Saudi Arabia, UAE,

and Qatar—are at the vanguard of this

transformation, which promises not only

to redefine their roles on the world stage

but also to ensure long-term economic

sustainability and resilience.

Historically dependent on oil, these

economies are embracing a new era

characterized by strategic diversification

into technology, tourism, finance,

and sustainable industries. This shift is

driven by the necessity to transcend the

volatile oil market and to prepare for a

post-oil era. It reflects a broader global

trend where regional economic clusters,

or ‘trade clubs’, are increasingly favored

over traditional globalized trade systems.

This reconfiguration, highlighted by the

World Economic Forum annual meeting

at Davos 2025, offers a new model of

economic interaction that aligns with

political, economic, and security interests.

Today, Saudi Arabia, the UAE, and Qatar

offer unique and ambitious examples of

economic transformation, strategically

shifting from their traditional oil-based

economies to become diverse global

powerhouses. This evolution placed

them among the world’s top 20 most

competitive economies according to IMD

2024 Competitiveness ranking ahead of

Germany, Canada, and South Korea. It

also made them hubs for major global

events and significant financial activities,

including a dominant share of IPOs in

the Middle East and Europe. In fact, the

GCC is now witnessing an “IPO Boom”

and in 2023, more than 45% of all IPOs

in EMEA were in this region and this is

increasing year on year. In 2024, there

were 54 IPOs raising 12.6$US billion.

In the last decade, these three GCC

nations were also pivotal in hosting a

range of mega-events, including Formula

1 races. Hosting 12.5% of the Formula 1

races for the year, the GCC significantly

contributes to the motorsports industry,

which boasts an impressive annual economic

output of approximately €160 billion.

Qatar’s hosting of the 2022 FIFA World

Cup and the UAE’s successful Expo 2020,

followed by Saudi Arabia’s upcoming role

as host for both the 2034 World Cup and

Expo 2030, exemplify the GCC’s strategic

The GCC’s evolution from oil giants to diversified

innovators is not just an economic necessity but

a strategic redefinition of the region’s role in a

globalized economy. As we harness technology

and innovative economic models, we are not only

participating in the global market; we are actively

shaping its future.”

use of major international events to bolster

their global standing and economic

diversification. These prestigious events

have not only demonstrated the GCC’s

advanced logistical capabilities but have

also significantly enhanced their international

profiles. The economic impact

of such events is profound, energizing

local industries including tourism, hospitality,

and services. For instance, the

2022 World Cup in Qatar contributed

substantially to the local economy, with

significant investments in infrastructure

expected to yield long-term benefits for

tourism and commerce. Similarly, the

Dubai Expo 2020 attracted millions of

visitors, showcasing innovations and

fostering international collaborations,

thus setting a precedent for how cultural

and sporting events can serve as catalysts

for economic growth and diversification

in the region.

The substantial growth in the non-oil

sectors of these countries is particularly

noteworthy - referred to by the IMF as a

bright spot in the global economy. In 2024,

non-oil GDP growth rates were impressive

across the GCC, with the UAE growing

at 4%, Saudi Arabia at 3.7%, and Kuwait

at an even higher 4.7%. This growth is

expected to continue. The only way, for

the coming years, is up.

The GCC’s proximity to burgeoning

markets in India and Africa, home to

the world’s next billion middle-class

consumers, offers unparalleled economic

opportunities. These regions are

expected to exhibit explosive growth

in consumer markets, presenting a

ripe environment for GCC countries to

establish themselves as central hubs in

the emerging global trade landscape. The

region’s global connectivity is spearheaded

by world-class airlines like Emirates,

Etihad, Qatar Airways, and soon, Riyadh

Air, enhancing its economic reach and

integrating these nations deeper into the

global economic fabric.

The GCC, with its strategic geographical

positioning and vast resources, is turning

potential into prosperity. In fact, the city

of Abu Dhabi now has a global brand as

“the capital for capital”. As of 2024, the

GCC manages over $4.3 trillion in sovereign

wealth funds and holds more than

40% of the world’s oil reserves, and over

25% of the global gas reserves.

Significant investments in technology,

particularly artificial intelligence, underline

the GCC’s commitment to establishing

a knowledge-based economy. Initiatives

like Saudi Arabia’s Vision 2030 and the

UAE’s AI Strategy 2031 highlight this

focus, aiming to harness cutting-edge

technologies to revolutionize industries

from energy to finance and beyond. These

strategies are supported by substantial

reforms, such as the introduction of

corporate income tax aimed at ensuring

fiscal sustainability and diversifying

revenue streams away from oil.

Yet, the region’s most significant

asset in this era of transformation is its

youthful demographic. With over 50%

of its population under the age of 25,

the GCC contrasts sharply with ageing

populations in the West and parts of

East Asia.

As these nations continue to invest

in building competitive industries and

innovating unique economic models, they

not only adapt to the global economic

order but also lead it.

This moment is not just an opportunity

but a necessity. As the world watches,

the GCC is not just participating in the

global economy—it is actively shaping

its future.



In this special feature, we spotlight the Top 50 Healthcare Trailblazers

in the UAE, visionaries who are shaping the future of medicine.

This exclusive list honors the most influential leaders in the UAE’s

healthcare industry, recognizing those who have not only achieved

groundbreaking milestones but have also set new standards of excellence.

Through innovation, dedication, and transformative contributions, these

pioneers are redefining patient care and driving the nation’s healthcare

sector to unprecedented heights.


ABDULKAREEM AL

OLAMA

Founder

Sultan Al Olama Medical Group

MEDICAL CLINIC

As founder of Sultan Al Olama Medical Group, Abdulkareem

Al Olama has built a healthcare enterprise that

exemplifies his vision of integrated, patient-centered

care. With six branches strategically positioned throughout

Dubai’s commercial and residential districts, the group offers

comprehensive services across 15 specialties from dentistry

and dermatology to pediatrics and home healthcare. The

organization’s success stems from its commitment to what

Al Olama calls “value-based medicine,” combining clinical

excellence with compassionate care.

Prior to establishing his medical group, Al Olama served

as Chief Executive Officer of The Mohammed bin Rashid Al

Maktoum Global Initiatives (MBRGI), the largest regional

foundation of its kind. During his tenure, he demonstrated

exceptional fundraising prowess, securing AED 2.7 billion in

2023-2024 alone. His innovative approach led to the establishment

of the 1 Billion Meal Endowment and the Mother

Endowment for Education.

A Harvard Medical School graduate, Al Olama’s career

reflects a remarkable blend of medical expertise, leadership

acumen, and entrepreneurial vision. As CEO of Al Jalila

Foundation, he commissioned Al Jalila Children’s Specialty

Hospital, established the Mohammed Bin Rashid Medical Research

Institute, and served as the Founding CEO of Hamdan

Bin Rashid Cancer Charity Hospital.

His pioneering work includes establishing the Dubai Robotic

Biobank, the first of its kind in the region. Al Olama’s

fundraising achievements are equally impressive, having

raised over AED 1.6 billion for healthcare projects and

life-transforming programs. Under his leadership, Al Jalila

Foundation has awarded more than 100 research grants to

scientists and provided over 100 scholarships.

Currently, Al Olama is collaborating with UN agencies

including WHO, WFP, and UNICEF to establish an innovative

date factory in Dubai that will support international humanitarian

feeding programs while also benefiting local farmers

and expanding the UAE’s green cover. Beyond his professional

accomplishments, colleagues describe Al Olama as an avid

traveler and skilled negotiator with a passion for making the

world better. He advocates for disrupting traditional NGO

models, pushing for greater innovation to address complex

global challenges that exceed conventional capabilities.

With his unique combination of medical expertise, business

acumen, and humanitarian vision, Abdulkareem Sultan Al Olama

continues to set new standards for healthcare excellence

and philanthropic impact in the UAE and beyond.


ABDULRAHMAN BIN

MOHAMED AL OWAIS

Minister of Health, and Prevention (MoHAP),

and Minister of State for Federal National

Council Affairs

Government of Dubai

GOVERNMENT

Abdulrahman Bin Mohamed Al Owais has been a driving

force in shaping the UAE’s healthcare and governmental

landscape for nearly two decades. His tenure in

the federal government, spanning multiple ministerial roles,

reflects a steadfast commitment to public welfare, cultural

enrichment, and institutional excellence.

Al Owais began his journey in public service in 2006 as the

UAE’s Minister of Culture, Youth, and Community Development.

This role underscored his dedication to fostering a vibrant

cultural and intellectual ecosystem in the nation. In 2011,

his responsibilities expanded as he assumed the additional

role of Acting Minister of Health, marking the beginning of

his influential presence in the UAE’s healthcare sector. By

2013, he was formally appointed as the Minister of Health, a

position that would define his career and solidify his impact

on the nation’s well-being.

With the ministerial reshuffle in 2016, the Ministry of Health

was restructured and rebranded as the Ministry of Health

and Prevention (MoHAP). This transformation reflected a

broader vision of not just providing healthcare services but

actively working towards disease prevention, public health

awareness, and regulatory excellence. Under Al Owais’s

leadership, MoHAP spearheaded groundbreaking initiatives

aimed at fortifying the healthcare infrastructure and ensuring

that the UAE remained at the forefront of global health

advancements.

Al Owais has championed several strategic initiatives,

including the development of the e-services program, the

MoHAP app, the Artificial Intelligence Centre, and the Zero

Trust Project. These projects align with the UAE’s digital

transformation goals, streamlining healthcare services, enhancing

data security, and integrating AI-driven solutions to

improve patient outcomes.

The ministry has also played a crucial role in international

collaborations, fostering partnerships strengthen global healthcare

ties. In December 2023, MoHAP engaged in discussions

with the Republic of Serbia to explore opportunities for joint

healthcare initiatives, demonstrating the UAE’s commitment

to global health diplomacy.

Beyond his ministerial role, Al Owais holds several key

positions that extend his influence across various domains.

He serves as Chairman of the Board of Trustees of the Sheikh

Zayed Grand Mosque Center and Chairman of the Board of

Trustees of the Sheikh Hamdan Bin Rashid Al Maktoum Award

for Medical Sciences. He is also a member of the Board of

Trustees of the Sultan Bin Ali Al Owais Cultural Foundation.


AKRAM

SAMI

Vice President and Regional General Manager

Oracle Health MEA

TECHNOLOGY SERVICES AND CONSULTING

With over 20 years of experience in the IT and healthcare

IT sectors, Akram Sami has consistently supported

sales and contributed to the success of every

organization he has worked for. His career spans numerous

companies, and he has developed deep-rooted relationships

across the Gulf region, with a particular focus on the public

sector, healthcare, and defence. Akram is passionate about

helping his clients achieve their goals and objectives, and his

vast experience has made him a key player in shaping the

future of healthcare technology in the region.

Since 2022, Akram has been at the helm of Oracle’s operations

in the Middle East and Africa (MEA), leading the company to

new heights in the healthcare IT landscape. Oracle, a global

leader in data management and intelligence solutions, has

been at the forefront of transforming healthcare operations.

Akram’s leadership and strategic vision were pivotal in securing

Oracle Health’s groundbreaking $34 million agreement

with Burjeel Holdings in 2023. This partnership introduced

an advanced Oracle Health EMR solution, making Burjeel

Holdings one of the first healthcare providers in the region

to adopt this cutting-edge technology, significantly enhancing

its operational capabilities.

In recognition of Oracle Health’s exceptional customer

engagement and dedication, the company was awarded the

Best in KLAS award for acute care EMR in the MEA region

for six consecutive years. This prestigious honour highlights

Oracle’s unwavering commitment to transforming healthcare

through strategic partnerships and innovative solutions, all

aimed at improving patient outcomes.

Akram’s journey at Oracle began in 2011 as a senior strategic

client executive. His career continued to evolve as he

held various leadership positions, including a role at SAP,

where he served as the public sector lead for healthcare,

defence, and public services. He returned to Oracle in 2016

as a senior client-accountable executive, where his expertise

and strategic acumen have helped drive Oracle’s success in

the MEA region. In 2024, Akram’s leadership played a significant

role in the successful deployment of Oracle Cloud

Infrastructure services at King’s College Hospital London

in Dubai—marking a major milestone for U.A.E. healthcare

facilities. This, alongside the continued expansion of Oracle

Health’s capabilities, underscores Akram’s impact on the

region’s healthcare IT landscape.

Akram holds a Business Administration degree from Beirut

Arab University, followed by a Master’s in Business Administration

from the Lebanese American University.


ALI AL

BELOOSHI

Co-founder

Orthocure Medical Centre

ORTHOPEDIC & REHABILITATION

Ali Al Belooshi is a leading figure in orthopaedic surgery

in the UAE, renowned for his expertise in hip and knee

arthroplasty, trauma surgery, and robotic-assisted knee

replacement. As an Assistant Professor in the Department

of Surgery at UAE University and Adjunct Clinical Assistant

Professor at Mohammed Bin Rashid University (MBRU), Al

Belooshi has dedicated his career to advancing the field of

orthopaedic surgery. He is also the co-owner of the Orthocure

Medical Center in Dubai, a state-of-the-art facility providing

cutting-edge surgical solutions.

With over two decades of experience in the medical field,

Al Belooshi’s journey began with a Bachelor’s degree in

Medicine from the Royal College of Surgeons in Ireland in

1999, after which he was awarded a scholarship by the UAE

Ministry of Higher Education. His academic journey continued

with an orthopaedic residency at the University of Toronto,

followed by clinical fellowships at Mount Sinai Hospital and

St. Michael’s Hospital, both of which honed his expertise in

adult lower extremity joint reconstruction and hip and knee

computer-assisted surgery.

Al Belooshi is a trailblazer in his field, credited with being

the first surgeon in the Middle East to introduce robotic-assisted

knee replacement surgery. His pioneering work in

this area has seen him perform over 3,000 robotic-assisted

surgeries, solidifying his reputation as one of the foremost

authorities on the technology. Furthermore, he played a key

role in the development of the ANTHEM Knee System by

Smith & Nephew, contributing to the design and innovation

of this groundbreaking technology.

Another notable achievement is Al Belooshi’s introduction

of the SuperPATH technique for hip replacement surgeries

in the region. This minimally invasive method enables patients

to recover significantly faster, often returning to their

daily activities within days rather than weeks or months. Al

Belooshi’s ability to integrate advanced technology with his

surgical expertise has transformed the recovery process for

countless patients. Al Belooshi’s influence extends beyond the

operating room. He is the Chairman of AO Trauma in the UAE

and Vice President of the UAE Orthopaedic Society, where

he plays a key role in shaping the future of orthopaedics in

the region. His contributions to research, particularly in hip

and knee arthroplasty, have been published internationally,

further cementing his status as an expert in the field.

With a career that spans over two decades, Al Belooshi’s

focus remains on providing the highest standard of care while

advancing the boundaries of medical technology.


ALI

HASHEMI

Co-Founder and Chief Executive Officer

meta[bolic]

DIGITAL HEALTH & DIABETES CARE

As Co-Founder and CEO of meta[bolic], Ali Hashemi

has created a healthcare platform generating some

of the best patient outcomes worldwide through its

unique hybrid approach.

Meta[bolic]’s evolution tells a compelling story of healthcare

innovation. What began in 2019 as GluCare.Health, a diabetes

management platform, soon expanded to include Zone.Health

for weight management. Both platforms now operate under

the meta[bolic] umbrella, powered by proprietary technology

that Hashemi’s team has developed from first principles.

“Metabolic diseases like diabetes are fundamentally diseases

of habit and lifestyle,” Hashemi explains. “Our approach

transforms clinicians into data-driven coaches who can guide

meaningful behavior change using the latest innovations in

wearable technology, machine learning, and artificial intelligence.”

This isn’t Hashemi’s first healthcare success story.

Previously, he founded Amana Healthcare, which became the

benchmark for continuum-of-care hospital platforms in the

Middle East before being acquired by Mubadala Healthcare

in 2018, one of the region’s largest healthcare M&A deals.

His expertise in healthcare strategy was honed during his

time founding and leading the Middle East Healthcare Practice

at Booz & Company in Dubai, following his work with

Bain & Company’s Healthcare and Private Equity practices in

New York City. Hashemi’s educational background uniquely

positions him at this technology-medicine crossroads. He

simultaneously studied Medicine and earned his MBA from

McGill University after completing a B.S.E. with Distinction

from Duke University, where he pursued an unusual combination:

a dual major in Biomedical Engineering and Religion,

with a minor in Chemistry.

Beyond his entrepreneurial ventures, Hashemi contributes

to the next generation of business leaders as a lecturer for

Duke University’s Global Executive MBA Program and serves

on the Global Advisory Board for Duke’s Fuqua School of

Business. As an investor in early-stage ventures, Hashemi

focuses on startups operating at the convergence of health

and technology, particularly those applying deep learning and

complex algorithms to healthcare challenges. In just five years

since its inception, meta[bolic] has dramatically expanded its

impact, making significant inroads in the wearables industry

and demonstrating the effectiveness of its hybrid healthcare

model, an approach Hashemi believes represents the future of

medical care. Through his innovative platforms, Ali Hashemi

continues to empower both patients and healthcare providers

with tools that drive meaningful improvements.


ALI IBRAHIM

MOHAMED ALSAFFAR

Chief Executive Officer

Capital Health Screening Center (CHSC)

PREVENTIVE HEALTHCARE

Ali Ibrahim Mohamed Alsaffar is a seasoned leader

whose career reflects over two decades of remarkable

achievements and transformative contributions across

diverse industries. With a Bachelor’s Degree in Business Administration

- Accounting from the University of Dubai, Ali

brings a wealth of experience and a deep understanding of the

financial and operational landscapes. His professional journey

spans sectors including Telecommunications, Investments,

Industrial Free Zones, and Media, showcasing his versatility

and leadership across high-profile organizations.

Throughout his career, Ali has held significant roles at

renowned entities such as Etisalat, TECOM Investments,

SENAAT, and TWOFOUR54. At TWOFOUR54, his pivotal role

as Head of Business Finance was instrumental in managing

major international film productions in the region, a testament

to his ability to oversee complex, high-stakes projects with

precision and expertise. His tenure in these organizations

sharpened his ability to navigate diverse business environments,

positioning him as a trusted leader capable of driving

impactful change.

In April 2019, Ali joined the management team at Capital

Health Screening Centre (CHSC) as the Head of Finance.

During his tenure, CHSC experienced rapid growth and

transformation under his strategic guidance. His leadership

capabilities expanded further when he assumed additional

responsibilities as Director of Operations and later, as Acting

Executive Director. One of his most notable contributions

came during the challenging times of the COVID-19 pandemic,

when his decision-making and resilience helped bolster CH-

SC’s standing and ensured the continuity of essential services

during uncertain times.

Ali’s strategic foresight has also been a key driver of CH-

SC’s expansion and operational success. As CEO, he led the

groundbreaking initiative of launching ADNOC’s Occupational

Medical Clinic in January 2023, marking a significant milestone

with a 10-year contract. This ambitious project involved

managing periodic Occupational Medical and Residency Visa

Medical screenings for ADNOC employees and their families, a

vital service in a region renowned for its dynamic workforce.

Under Ali’s leadership, CHSC has also revolutionized

healthcare delivery through the expansion of its fleet of

Mobile Clinics. This innovation brought on-site visa medical

screenings directly to large groups of employees in Abu Dhabi-based

companies, dramatically improving convenience,

reducing wait times, and enhancing operational efficiencies

across CHSC’s branches and mobile units.


ALISHA

MOOPEN

Managing Director and Group CEO

Aster DM Healthcare

HOSPITALS & CLINICS

Alisha Moopen, the Managing Director and Group CEO

of Aster DM Healthcare, is a trailblazer in the healthcare

industry and a powerful advocate for women’s

empowerment and mental health. As one of the few women

in a male-dominated sector, Alisha has proven that diligence,

innovation, and a commitment to excellence are the pillars of

effective leadership. She is responsible for guiding the strategic

direction of Aster DM Healthcare, driving the company’s

expansion into new markets, and overseeing its operations

across seven countries, serving over 50,000 patients daily

and nearly 20 million annually.

Her educational journey reflects her strong foundation in

business and finance, with a Chartered Accountancy degree

from the Institute of Chartered Accountants of Scotland

(ICAS) and further studies at prestigious institutions such

as the University of Michigan - Stephen M. Ross School of

Business and Harvard Kennedy School. Prior to her role at

Aster, Alisha gained valuable experience working with Ernst

& Young, where she honed her leadership and financial expertise,

setting the stage for her groundbreaking work at Aster.

Alisha’s leadership is shaping the future of healthcare in

the Middle East and beyond. She has been instrumental in

Aster’s global expansion, with the company now operating a

vast network of over 290 establishments, including hospitals,

clinics, pharmacies, and specialty centers in the GCC, India,

and the Philippines. Her vision for growth is exemplified by

Aster’s $250 million investment to expand its presence in

Saudi Arabia, adding over 1,000 hospital beds, 180 pharmacies,

and 24 medical centers. This expansion is a reflection

of her dedication to making quality healthcare accessible to

millions of people across the globe.

A passionate advocate for workforce diversity, Alisha is

committed to breaking down the barriers that women face

in the workplace. As the first female Chapter Chair of YPO’s

Dubai Chapter, she brings together over 27,000 chief executives

from 130 countries, fostering a global network that

emphasizes leadership, diversity, and innovation. One of

her key initiatives at Aster DM Healthcare is the launch of

the Women in Leadership program, which empowers women

within the organization by providing training, mentorship, and

opportunities to advance into leadership roles.

Beyond her professional accomplishments, Alisha is a

strong supporter of mental health initiatives and women’s

empowerment. Her commitment to improving mental health

support for employees and promoting gender equity within

the workforce underscores her dynamic leadership style.


AMANDA

GRAVITIS


Smart Salem

DIGITAL HEALTH AND WELLNESS CLINIC

Amanda Gravitis is an entrepreneurial leader with over a

decade of experience driving business transformation

and growth. Since joining Smart Salem in 2022, she

has been instrumental in the company’s rapid expansion,

overseeing the opening of multiple state-of-the-art medical

centres and launching over 20 innovative services. Under her

leadership, Smart Salem has gained recognition for providing

Dubai’s most convenient health screening services, including

visa health screening. She believes strongly in a purpose-led,

people-first leadership approach that has fostered a thriving,

empowered, and resilient organizational culture at Smart Salem.

Amanda’s journey to CEO, which began as COO in mid-2022,

is a testament to her adaptability, determination, and vision.

She led the company’s expansion from a single center to three

in just six months and designed and operationalized advanced

medical centres with cutting-edge robotics and automation.

In recognition of her leadership, Amanda was promoted to

CEO in late 2023, where her focus is on continuing to elevate

Smart Salem’s health and wellness services in the UAE.

Before joining Smart Salem, Amanda built a successful

career in consultancy, working with one of the “Big Four”

firms across Australia, New Zealand, and the GCC region. Her

consultancy background has enabled her to bring a diverse

perspective to her leadership role, managing large-scale

transformations and driving growth strategies that align

stakeholders across both government and private sectors.

Amanda’s approach to leadership is grounded in flexibility,

resilience, and a problem-solving mindset. She advocates for an

empowered workforce where team members feel safe to take

risks, learn from mistakes, and contribute to the company’s

success. Smart Salem’s unique startup culture encourages

open communication and collaboration, promoting an environment

of continuous learning.

Beyond business growth, Amanda is passionate about

integrating innovative technologies like genomics and body

composition analysis into Smart Salem’s services. She is a

strong advocate for preventive healthcare and aims to make

advanced technologies more accessible and affordable to

individuals, empowering them to take control of their health.

Under her leadership, Smart Salem has introduced several

industry-first initiatives, such as removing the need for a

doctor’s referral to access health screening services, and

simplifying the process for individuals seeking preventive care.

Amanda’s focus on customer-centric services has been integral

to Smart Salem’s growth and its commitment to providing

Dubai residents with a premium health screening experience.


AMER AHMAD

SHARIF

Chief Executive Officer and President

Dubai Health and Mohammed Bin Rashid University

of Medicine and Health Sciences (MBRU)

GOVERNMENT HEALTHCARE AUTHORITY

As the CEO of Dubai Health and President of Mohammed

Bin Rashid University of Medicine and Health Sciences

(MBRU), Amer Ahmad Sharif has been instrumental in

transforming the healthcare landscape, making groundbreaking

strides in medical education, healthcare management, and

research. His visionary leadership extends to his role as the

Chair of the Dubai COVID-19 Command and Control Center,

where he played a pivotal role in the UAE’s response to the

global pandemic.

Sharif’s journey in healthcare leadership began with a

strong academic foundation. He earned his MBBS from the

UAE University’s College of Medicine and Health Sciences

(CMHS), followed by a PhD in Public Health, where he focused

on mapping the UAE health system’s challenges and recommending

strategies for improvement. Furthering his expertise,

he also completed an MSc in Healthcare Management from

the prestigious Royal College of Surgeons in Ireland (RCSI).

His academic and professional achievements have earned

him recognition both nationally and internationally, including

being the first RCSI alumnus to receive the “Positive Global

Impact Award” for his role in establishing MBRU.

A forward-thinking leader, Sharif has been a driving force

in the growth and success of MBRU, founded in 2014. Under

his guidance, the university has become a renowned institution

for medical and healthcare education in the region,

strengthening collaborations with international academic

powerhouses such as Queen’s University Belfast and other

global partners. MBRU’s prestigious academic programs,

including the Hamdan Bin Mohammed College of Dental Medicine

and the College of Medicine, have received widespread

acclaim for their excellence in training the next generation

of healthcare professionals.

Sharif’s leadership extends beyond academia. He has

held numerous key roles within the UAE healthcare system,

including significant positions at the Dubai Health Authority

(DHA). His research interests, focused on the challenges

and future strategies of the UAE healthcare system, have

provided valuable insights and helped shape policies aimed

at improving health outcomes for the nation.

In addition to his work at MBRU and Dubai Academic Health

Corporation, Sharif is an active member of several prominent

councils, including the UAE Genome Council, the Emirates

Research and Development Council, and the Advisory Board

of the 4th Industrial Revolution Center in the UAE. He also

serves as a Visiting Scholar at Thomas Jefferson University’s

Sidney Kimmel Medical College.


AYMAN

MOKHTAR

Regional President MENA & EURASIA

Viatris

PHARMACEUTICALS

Ayman Mokhtar is a seasoned global executive with over

20 years of experience in the pharmaceutical industry,

specializing in innovative healthcare solutions that

expand patient access to quality medications. He is currently

the Regional President for Viatris, overseeing operations in

the Middle East, North Africa, and Eurasia. Viatris, a global

healthcare company formed from the merger of Mylan and

Upjohn (a Pfizer division), is committed to improving patient

access to essential medicines worldwide, serving approximately

1 billion patients annually.

Throughout his career, Mokhtar has held key leadership

roles across Europe, Eurasia, the Middle East, and Africa,

bringing expertise in navigating complex political and economic

landscapes to drive organizational growth and profitability.

His focus has been on maximizing business opportunities

and building strategic partnerships, including collaborations

with prominent stakeholders such as the Ministry of Health

in the UAE, the Ministry of Health and Population in Egypt,

NYU Abu Dhabi, Emirates Airlines, and others.

Mokhtar is an expert in leading and developing organizations,

providing training and development at all levels, and

creating a competitive growth environment by securing strong

external relationships. He is also known for his advanced

presentation skills, which enable him to effectively network

and raise brand awareness, enhancing business performance.

His commitment to improving healthcare access is reflected

in his advocacy and active external engagement. He is a

board member of several leading trade and academic organizations,

including chairing the Harvard Club’s healthcare

committee for the GCC and being a founding member of the

U.S.-U.A.E. Business Council. Mokhtar has been instrumental

in driving public-private partnerships that focus on research,

awareness, and patient access, particularly in the UAE. His

contributions to the region’s healthcare landscape have

earned recognition from industry peers, advocacy groups,

and business organizations.

Mokhtar holds a Bachelor’s degree in Pharmaceutical

Sciences from Cairo University, along with an Advanced

Management Program in Global Experience and International

Business from Northwestern University’s Kellogg School

of Management and IMD Business School. His unwavering

dedication to excellence, along with his ability to connect

stakeholders around common goals, has made him a trusted

leader in the pharmaceutical industry.

Through his work, Ayman Mokhtar continues to demonstrate

a deep commitment to delivering quality healthcare.


BADER BADER

AL QUBAISI


Sheikh Khalifa Medical City

GOVERNMENT HOSPITAL

At the helm of Sheikh Khalifa Medical City (SKMC), one

of the UAE’s most prestigious medical institutions,

Bader Bader Al Qubaisi brings nearly two decades of

executive experience and a vision for healthcare that combines

innovation with compassionate service. As CEO, Al Qubaisi

has already left an indelible mark on SKMC’s trajectory. His

strategic leadership successfully revitalized key medical

services and expanded business opportunities, resulting in

significant financial improvements throughout 2022-2023.

This turnaround reflects his ability to balance operational

excellence with fiscal responsibility, a rare combination in

today’s complex healthcare landscape.

Al Qubaisi’s journey to SKMC’s top position includes

serving as SEHA’s Group Chief Information Officer, where

he spearheaded critical technology advancement initiatives.

These efforts streamlined processes across SEHA’s network,

creating measurable improvements in both patient experience

and staff efficiency.

His technology background has proven particularly valuable

in modernizing SKMC’s approach to healthcare delivery.

Under his guidance, the institution has embraced digital

transformation while maintaining its focus on patient-centered

care. This dual focus represents Al Qubaisi’s philosophy that

technology should enhance, rather than replace, the human

elements of healthcare. Al Qubaisi’s extensive committee

experience including roles on the Sheikh Shakhbout Medical

City Operation Committee, Operating Committee of Sila

Hospital and Clinics in Al Dhafra Region, and Institutional

Transformation Committee has given him a comprehensive

understanding of healthcare operations at multiple levels.

As the leader of Abu Dhabi’s largest teaching medical center,

Al Qubaisi oversees an impressive operation: 441 beds,

16 outpatient specialty clinics, and several groundbreaking

medical programs including the UAE’s first comprehensive

Kidney Transplant Center and the country’s largest Heart

Program for Children.

Under his stewardship, SKMC continues to build on its

reputation for pediatric excellence, offering specialized

services in oncology, hematology, nephrology, and metabolic

disorders that are unavailable elsewhere in the region. With

Bader Al Qubaisi at the helm, Sheikh Khalifa Medical City

appears poised to continue its trajectory as a healthcare innovator

while fulfilling its core mission: providing exceptional,

comprehensive care to the communities it serves. As a leader,

Bader Al Qubaisi ensures that SKMC remains at the forefront

of medical research and patient-centered care.


BASEL

ZIYADEH


Julphar

PHARMACEUTICALS

With over 25 years of pharmaceutical industry expertise,

Basel Ziyadeh has taken the helm of Julphar during

a pivotal moment in the company’s evolution. Since

his appointment as CEO in February 2023, Ziyadeh has been

steering this pharmaceutical powerhouse toward its vision

of providing innovative health solutions both regionally and

globally.

His leadership journey reflects a deep understanding of

the pharmaceutical ecosystem across the Middle East and

North Africa. Before joining Julphar, Ziyadeh demonstrated

his transformational leadership capabilities as CEO of Tabuk

Pharmaceuticals, where he orchestrated a significant business

turnaround that substantially expanded profitability while

forging strategic partnerships that positioned the company

for sustainable growth.

Ziyadeh’s 15-year tenure at Hikma Pharmaceuticals further

shaped his multifaceted expertise. There, he progressed

through various leadership roles, eventually spearheading

the company’s branded strategy formulation and execution

throughout the MENA region after successfully managing

operations across the GCC and Levant markets. His advisory

work and board memberships with pharmaceutical entities

spanning Saudi Arabia, Egypt, Jordan, Sudan, Iraq, and Lebanon

have provided him with invaluable insights into the

diverse regulatory landscapes and market dynamics across

these regions.

Under Ziyadeh’s guidance, Julphar continues to build on

its impressive foundation. The company, established in 1980

under the direction of Sheikh Saqr Bin Mohammed Al Qasimi,

has grown into a formidable presence in the pharmaceutical

world. With 12 manufacturing facilities across the Middle East

and Africa, Julphar now produces approximately one million

boxes of medicine daily, distributes to 50 countries across

five continents, and employs 2,300 professionals. Julphar’s

financial trajectory reflects its operational scale, with reported

revenues of $441.7 million in 2022 and assets totaling $649

million. The company has distinguished itself as one of the

world’s leading insulin producers while maintaining a diverse

portfolio through Julphar Diabetes Solutions, general medicines,

and its consumer division. With his hands-on leadership

approach and comprehensive experience in pharmaceutical

marketing, multi-site manufacturing, strategy development

in vaccines and biological medicines, and business development,

Ziyadeh is uniquely positioned to accelerate Julphar’s

transformation journey. Under his leadership, Julphar aims

to expand world-class care in every aspect of its operations.


ELIF

ARAL

Regional President Middle East, Russia and

Africa (MERA)

Pfizer

BIOPHARMACEUTICALS

Elif Aral’s journey with Pfizer began in 1995, and since

then she has achieved significant milestones over the

years. When Aral joined the pharmaceutical giant,

few could have predicted the profound impact she would

have on global healthcare access and innovation over the

next 25+ years. Today, as a senior executive navigating one

of the world’s largest pharmaceutical companies through an

era of unprecedented change, Aral embodies the intersection

of business acumen and humanitarian purpose that defines

modern healthcare leadership.

Aral’s most recent achievement stands as perhaps her most

impactful: spearheading Pfizer’s “An Accord for a Healthier

World” initiative. This groundbreaking program delivers the

company’s medicines and vaccines on a not-for-profit basis

to 45 lower-income countries, dramatically expanding access

to critical healthcare solutions for millions of vulnerable

patients worldwide. Prior to leading the Accord initiative,

Aral’s leadership spanned several critical domains within

Pfizer. As CV Metabolic and Global Brands lead in Internal

Medicine, she oversaw more than 200 medicines, working

across global markets to enhance performance and ensure

these treatments reached patients efficiently. Her tenure as

head of Pfizer’s Vaccines Division for Emerging Markets further

solidified her reputation as a strategic visionary, managing

a $1.4 billion portfolio that helped protect millions against

preventable diseases across developing regions.

Pfizer’s 2023 performance in the Middle East, Russia, and

Africa region reflects Aral’s strategic approach to market

development. The company reached over 45 million patients

and successfully launched 32 products across the region.

Additionally, approximately 15,000 patients benefited from

30 patient access programs implemented across 11 countries.

Key regional partnerships under her leadership include collaboration

with Haya Karima in Egypt, initiatives with Morocco’s

Ministry of Health targeting universal health coverage and

improved antimicrobial resistance, and partnership with Abu

Dhabi’s Department of Health to advance research through

real-world data analysis, with special focus on rare diseases

like Sickle Cell Disease.

Aral’s impressive educational background provides the

intellectual foundation for her innovative approach to healthcare

leadership. With an Economics degree from Istanbul

University, she has further enhanced her expertise through

executive education at prestigious institutions including Harvard

Business School, Wharton, Kellogg Executive Education,

and the Management Center of Europe.


ELLIE

CHAILLOT

President and Chief Executive Officer

(International)

GE Healthcare

HEALTHTECH

Elie Chaillot is the President & CEO (International) of

GE HealthCare, leading an $8 billion business with a

workforce of 25,000 professionals across 160+ countries.

Under his leadership, GE HealthCare continues to revolutionize

the industry by delivering cutting-edge healthcare

technologies, services, and solutions that enhance patient

care and streamline medical operations worldwide.

With over two decades of experience at GE HealthCare,

Chaillot has been instrumental in driving strategic growth and

fostering strong organizational cultures. Before assuming his

current role in January 2024, he served as President & CEO

of GE HealthCare’s Intercontinental Region, overseeing a

$3 billion business unit across 60 countries, including Latin

America, Southeast Asia, India, Japan, Korea, Australia, and

New Zealand. Prior to that, he led Services for Europe, the

Middle East, and Africa (EMEA), spearheading lifecycle

business development and operations in over 100 countries.

Chaillot’s career with GE HealthCare began in 2001 in Paris,

where he took on various commercial and leadership roles

in Diagnostic Imaging, Healthcare Digital, and Interventional

businesses across EMEA. In 2007, he relocated to Dubai

to lead the Middle East division, achieving record growth.

His journey then took him to Asia, where he became Chief

Commercial Officer for Japan & Asia Pacific, before being

appointed President & CEO of GE HealthCare’s Eastern

Growth Markets (EGM) in 2018.

A biomedical engineer by training, Chaillot holds an MBA

in Healthcare Economics and Hospital Management from

Institut Lillois de l’Ingénierie de la Santé (ILIS), Lille II University

Law & Health, France. He also serves on the Board

of Directors of Wipro GE Healthcare in India, contributing to

the advancement of healthcare solutions in one of the world’s

most dynamic markets.

Elie Chaillot is at the forefront of digital healthcare

transformation, championing AI-powered diagnostics, connected

patient monitoring, and personalized treatment solutions. In

February 2024, under his leadership, GE HealthCare partnered

with Sulaiman Al-Habib Medical Services Group (HMG) to

integrate advanced digital healthcare technologies across 13

hospitals and eight medical centers in the Middle East. Further

solidifying GE HealthCare’s presence in the region, Chaillot

oversaw a landmark partnership with Saudi-based Hayat

National Hospitals in October 2024, aimed at strengthening

healthcare infrastructure and medical technology deployment

throughout the kingdom. His leadership drives GE HealthCare’s

mission to deliver compassionate care worldwide.


FODHIL

BENTURQUIA

Founder and Chief Executive Officer

Okadoc

HEALTHTECH & TELEMEDICINE

Benturquia’s journey in the Middle East began in 2007

when he left France to pursue a career in investment

banking with Société Générale in Dubai. In his early 20s,

the young professional quickly recognized the vast potential of

the digital revolution, particularly within e-commerce, which,

at the time, was viewed as a high-risk and unproven business

model. Benturquia’s interest in the sector grew, and in 2010,

he co-founded MarkaVIP in Amman, a startup that aimed to

capitalize on the emerging e-commerce trend. While his time

there was brief, it set the stage for the pivotal role he would

later play in reshaping the region’s online retail landscape.

Soon after, he joined Souq.com, a company still in its infancy.

There, Benturquia made his mark by launching the Deal of

the Day offering, a business model that became a significant

success. His efforts didn’t stop there; he later took on the responsibility

of leading Souq.com’s Saudi operations, managing

the company’s profit and loss for two years. Benturquia’s time

at Souq, which ultimately attracted the attention of Amazon

and was acquired for $600 million, was an invaluable learning

experience, giving him the foundation to become a leading

force in the region’s digital transformation.

In 2015, at just 31, Benturquia took on his next challenge

as the Group CEO of Noon.com, a $1 billion joint venture

backed by prominent Dubai figures and Saudi Arabia’s Public

Investment Fund. Under his leadership, Noon.com grew into

one of the largest e-commerce platforms in the region in less

than two years, further cementing Benturquia’s status as a

visionary leader.

However, it was in 2018 that Benturquia pivoted to healthcare,

founding Okadoc after a personal experience left him

frustrated with the inefficiency of booking doctor appointments.

Realizing the healthcare sector was ripe for digital

disruption, he launched Okadoc to provide a seamless and

efficient online booking platform for patients and doctors.

Today, under his leadership, Okadoc has revolutionized how

people in the UAE access healthcare services, helping users

book doctor’s appointments in less than 40 seconds. With

over 400,000 monthly visitors and growing at a rate of 30%

per month, Okadoc is making waves in the healthtech space,

all while offering a free service to consumers and generating

revenue through subscription packages from healthcare providers.

Benturquia’s journey is one of resilience, innovation,

and leadership. From his early days in investment banking to

transforming the e-commerce landscape and now leading the

charge in digitizing healthcare, his story is one of relentless

ambition and a passion for creating lasting, impactful change.


GEORGE PASCAL

HABER


Cleveland Clinic Abu Dhabi

TERTIARY CARE HOSPITAL

George Pascal Haber, MD, PhD, is the Chief Executive

Officer (CEO) of Cleveland Clinic Abu Dhabi, leading

a team of over 5,600 caregivers in one of the region’s

most innovative healthcare institutions. A visionary leader in

medical technology and surgical innovation, Haber is also a

renowned urologist with a specialty in robotic surgery. Under

his leadership, Cleveland Clinic Abu Dhabi has seen remarkable

growth, embracing cutting-edge healthcare solutions

and aligning with the mission of Cleveland Clinic and M42

to drive innovation in the healthcare landscape.

Before taking on the CEO role at Cleveland Clinic Abu

Dhabi, Haber served as Chairman of the Glickman Urologic

and Kidney Institute at Cleveland Clinic, Ohio, where his

work revolutionized urology practices. He expanded patient

services, reduced complications by 40%, and doubled the number

of urology patients treated. His leadership solidified the

institute’s reputation as one of the top-ranked urology centers

globally, all while driving academic and research excellence.

Throughout his career, Haber has been at the forefront of

pioneering surgical techniques. He led his team in performing

groundbreaking procedures such as Europe’s first-ever

robotic, scar-free kidney removal for transplant, as well as

the first large series of scar-free kidney and prostate surgeries

conducted through the belly button. His innovation extends

to the UAE, where he performed the first robotic kidney

transplant in the region, along with other path-breaking

procedures like robotic autotransplant and robotic Level 3

IVC thrombectomy.

Haber’s contribution to urology extends far beyond the

operating room. He has authored more than 250 peer-reviewed

scientific articles and has served as a visiting professor in over

a dozen countries. In addition to his clinical and academic

accomplishments, Haber’s leadership and vision have made

a significant impact on healthcare delivery itself. During the

COVID-19 pandemic, he led surge planning efforts at Cleveland

Clinic, using predictive analytics to ensure optimal patient

care during a challenging time. His adaptability and foresight

ensured that Cleveland Clinic maintained its world-class

service levels while managing the pandemic’s disruptions.

A graduate of France’s top universities, Haber holds a Master’s

in Surgical Oncology, a PhD in Biotechnology, and completed

his clinical fellowship in robotic urology at Cleveland Clinic.

He further honed his leadership acumen through executive

education at Wharton and Harvard Business Schools.

Beyond Cleveland Clinic, Haber continues to shape the

future of healthcare.


HASAN JASEM AL

NOWAIS

Managing Director and Group CEO

M42 Health

HEALTHCARE TECHNOLOGY & AI

As the Group CEO and Managing Director of M42, Hasan

Jasem Al Nowais leads a healthcare powerhouse that’s

leveraging artificial intelligence, genomics, and cutting-edge

technology to deliver more personalized, precise,

and preventative care worldwide.

Under Al Nowais’s guidance, M42 has emerged as a

formidable presence in the global healthcare landscape.

Formed in 2022 through the merger of G42 Healthcare and

Mubadala Health, the Abu Dhabi-headquartered organization

now encompasses over 20,000 employees across more than

450 facilities in 26 countries. What distinguishes M42 is its

commitment to disrupting traditional healthcare models

through technological integration. The company’s approach

combines state-of-the-art healthcare facilities with advanced

health technologies, creating solutions that address some of

the world’s most critical health and diagnostic challenges.

Al Nowais brings to his role more than two decades of

leadership experience spanning both the healthcare and

hospitality sectors. His previous positions include CEO of

Mubadala Health and Chief Administrative Officer of Cleveland

Clinic Abu Dhabi, where he honed his expertise in healthcare

administration and innovation. His leadership extends beyond

M42, as he serves as Chairman of Cleveland Clinic Abu Dhabi,

Rosewood Abu Dhabi, and the Four Seasons Abu Dhabi.

Additionally, he holds board positions with Yas Holdings and

chairs its Healthcare Committee.

This diverse background combining healthcare expertise

with hospitality excellence, informs Al Nowais’s unique approach

to patient care, emphasizing both clinical excellence

and exceptional patient experience. Al Nowais’s impact has

earned him recognition as one of the Middle East’s top ten

healthcare leaders. His educational background includes a

degree from the American University in Washington, D.C.,

complemented by certifications from prestigious institutions

including Cornell University and Harvard Medical School.

The efficacy of M42’s approach under Al Nowais’s leadership

was recently highlighted when Amana Healthcare, a key

component of the M42 group, received the Diamond Award

for Safety in Digital Transformation from the Arab Hospitals

Federation for the third consecutive year. This recognition

underscores the organization’s commitment to enhancing

patient safety through digital innovation. By harnessing the

power of artificial intelligence, genomics, and other emerging

technologies, they are working to create a future where

preventative care and early intervention become the norm

rather than the exception.


HEIN VAN

ECK


Mediclinic Middle East

HOSPITALS & CLINICS

Hein van Eck is a seasoned healthcare executive with

over 20 years of leadership experience in strategy,

operations, and business growth across both local

and global healthcare landscapes. Appointed CEO of Mediclinic

Middle East in 2023, Hein is responsible for the overall

executive oversight of the organization, including strategic

planning, future growth strategy, policy setting, budgeting,

and financial and operational performance.

Before assuming the role of CEO, Hein served as the Chief

Strategy Officer at Mediclinic, where he played a pivotal

role in developing and overseeing the company’s strategic

initiatives, M&A activities, and business operations. His experience

spans across optimizing business models, driving

efficiency, and mitigating risks, all of which have contributed

to Mediclinic’s continued success in the UAE’s rapidly evolving

healthcare sector.

Hein brings a strong background in actuarial science to his

leadership roles. He is a Fellow of the Institute and Faculty of

Actuaries, UK (FIA), and a Fellow of the Actuarial Society of

South Africa (FASSA). He holds a BSc from the University of

Stellenbosch, grounding him in both the technical and strategic

aspects of the healthcare industry. Under Hein’s leadership,

Mediclinic Middle East has continued to establish itself as

a trusted provider of world-class healthcare in the UAE, operating

seven hospitals and 28 outpatient clinics, with more

than 7,700 dedicated staff members. Mediclinic has earned

a reputation for meeting internationally recognized clinical

care standards and ensuring operational excellence, making it

one of the leading private healthcare providers in the region.

In March 2024, under Hein’s leadership, Mediclinic City

Hospital made history as the first private hospital in the UAE

to receive the prestigious Patient Safety Friendly Hospital

Initiative (PSFHI) certification, a significant achievement that

reflects the organization’s commitment to patient safety and

high-quality healthcare standards. Hein’s leadership extends

beyond strategy and operations; his focus on developing

healthcare policy, managing payer relations, and driving

research and development initiatives continues to shape the

future of healthcare delivery in the UAE and beyond.

Committed to excellence, Mediclinic Middle East continues

to focus on providing top-tier medical services while leveraging

the global expertise of its parent company. Its patient-centered

approach, advanced medical technologies, and adherence to

high clinical standards make it a trusted name in the UAE’s

healthcare sector. His unwavering commitment to growth,

makes him a key figure in the healthcare industry.


HUSNIA

GARGASH

Founder and Chairperson

Gargash Hospital

WOMEN’S & MATERNITY HOSPITAL

Husnia Gargash is a pioneering consultant in Obstetrics,

Gynecology, and Reproductive Medicine, celebrated

for her groundbreaking contributions to women’s

healthcare in the UAE. As the first local consultant specializing

in Reproductive Medicine in the country, she has set a

remarkable precedent for advancing fertility treatment and

family planning, particularly in the area of assisted reproductive

technologies (ART). With more than two decades of

expertise, Gargash has become one of the leading authorities

in her field, known for her unwavering commitment to improving

women’s health and helping families achieve their

dreams of parenthood.

Gargash earned her qualifications from some of the most

prestigious medical institutions, undergoing rigorous training

in Obstetrics and Gynecology. Her particular interest and specialization

in Reproductive Medicine have led her to develop

a deep expertise in fertility preservation, in-vitro fertilization

(IVF), and other advanced reproductive technologies. She is

renowned for her holistic approach to patient care, tailoring

treatment plans to meet each patient’s unique medical needs

and personal goals. This compassionate and personalized

care has allowed countless families to realize their dreams,

particularly in cases involving infertility and reproductive

health challenges.

Gargash is especially respected for her proficiency in

managing high-risk pregnancies, complex gynaecological

conditions, and advanced fertility treatments. Her exceptional

skills in laparoscopic surgery and the use of assisted

reproductive technologies have made her a sought-after

consultant, both locally and internationally. Her dedication

to providing the best possible outcomes for her patients has

earned her widespread recognition in the medical community.

In addition to her clinical work, Gargash is passionate about

medical education. She has played an instrumental role in

training and mentoring young doctors and specialists in Obstetrics,

Gynecology, and Reproductive Medicine, sharing her

extensive knowledge and expertise with the next generation

of healthcare professionals. Gargash’s leadership in education

has established her as a trusted and respected figure in the

medical community.

Her contributions extend beyond her practice, with several

published research papers focused on reproductive health.

These publications have further cemented her position as a

thought leader and innovator in her field. Gargash’s research

and dedication to improving women’s healthcare ensures

that her influence reaches far beyond her clinical practice.


JAMIL

AHMED

Founder and Managing Director

PRIME Healthcare Group

HOSPITALS & CLINICS

With over two decades of leadership, Jamil Ahmed has

been the driving force behind the transformation

of PRIME Healthcare Group into one of the UAE’s

premier healthcare providers. Under his visionary guidance,

the group has earned multiple prestigious accolades, including

the Dubai Quality Appreciation Award and the Sharjah

Economic Excellence Award, cementing its reputation for

excellence in healthcare. Through his leadership, PRIME

Healthcare has become synonymous with top-tier medical

care, offering a 100-bed premium hospital, medical centers,

and diagnostic facilities across the UAE.

Jamil Ahmed, an accomplished Orthopaedic Surgeon,

completed his MBBS and MS in Orthopaedic Surgery in India,

followed by a Fellowship in Trauma and Reconstructive Surgery

from Germany. His vast clinical experience and entrepreneurial

spirit led him to establish PRIME Medical Centre in 1999, after

honing his skills at renowned hospitals in the UAE, India, and

Germany. As a skilled surgeon with expertise in trauma and

reconstructive surgery, Jamil has always prioritized patient

care, ensuring that PRIME Healthcare Group operates at the

highest medical standards.

As a leader, Jamil is known for his business acumen and

ethical approach to entrepreneurship. He has grown PRIME

Healthcare Group into a prominent conglomerate with over

450 physicians and 1,200 professionals, all committed to

providing personalized, compassionate care. Jamil’s unwavering

dedication to quality and his hands-on involvement

with physicians, employees, and patients alike has led the

organization to become a beacon of healthcare excellence in

the UAE. His leadership extended beyond healthcare delivery,

particularly during the COVID-19 crisis. Leading from the

front, he ensured that PRIME Healthcare played a key role

in vaccinating both its employees and the wider community.

His proactive approach during the pandemic highlighted his

commitment to both the health and well-being of his team

and the broader public.

In addition to his work in healthcare, Jamil is deeply

committed to philanthropy. His passion for giving back to

the community is evident through numerous CSR initiatives,

including his recent donation of an ambulance to the Dubai

Corporation of Ambulance Services as a token of appreciation

for their tireless work. Jamil Ahmed’s entrepreneurial journey

has been marked by steady growth, and PRIME Healthcare

Group continues to expand its footprint in healthcare services,

integrating cutting-edge technology to deliver personalized

care to every patient.


JOHN

IRELAND


Amanat Holdings

HEALTHCARE INVESTMENTS

John Ireland brings a robust financial acumen and strategic

vision to his role of Chief Executive Officer of Amanat

Holdings. With a distinguished career spanning multiple

industries, Ireland has established himself as a versatile leader

capable of driving growth in diverse business environments.

At Amanat, Ireland leverages his extensive experience to

oversee a significant portfolio of healthcare and education

assets. The company, listed on the Dubai Financial Market

since 2014 with a paid-up capital of AED 2.5 billion, focuses

on establishing, acquiring, and integrating companies within

these sectors throughout the region and beyond. Ireland’s

financial expertise was honed across senior positions in

finance, strategy, and business development within the real

estate, media, and entertainment industries. Before joining

Amanat, he served as CFO for several listed and private organizations

both regionally and internationally, demonstrating

his adaptability and broad business perspective.

His educational background includes a Bachelor of Arts in

Business Management from the University of Exeter, complemented

by his qualification as a Chartered Accountant. This

combination of formal education and professional certification

has equipped Ireland with the analytical capabilities essential

for navigating complex financial landscapes.

Beyond his executive roles, Ireland maintains a governance

perspective as a Board Member at Cambridge Medical &

Rehabilitation Center, part of Amanat’s healthcare platform,

which stands as the leading post-acute care provider in the

Gulf region. Under Ireland’s financial stewardship, Amanat

continues to expand its portfolio, which includes Cambridge

Medical and Rehabilitation Center in the UAE and Saudi Arabia,

Sukoon in Jeddah, Al-Malaki Specialist Hospital in Bahrain,

and educational institutions including Middlesex University

Dubai, Human Development Company, and NEMA Holding.

Ireland’s proficiency in financial analysis and accounting

principles has proven instrumental in Amanat’s sustained

growth within today’s competitive business landscape. His

strategic financial management drives the company’s long-term

success in developing and operating impactful healthcare and

education businesses across the region.

About

Amanat Holdings PJSC is a leading investment company based

in Dubai, UAE, specializing in the healthcare and education

sectors across the MENA region. Established in 2014 and

listed on the Dubai Financial Market (DFM), Amanat has

built a strong healthcare portfolio.


KHALDOON

BUSHNAQ


Alma Health

DIGITAL HEALTH & CHRONIC CARE

Khaldoon Bushnaq is the co-founder and CEO of Alma

Health, a digital healthcare platform dedicated to

transforming the lives of people with chronic conditions

and their caregivers. Drawing from his background in

engineering and business, Khaldoon leads Alma Health with

a structured, determined, and transparent approach, motivated

by the mission of simplifying healthcare for individuals

dealing with conditions such as diabetes, hypertension, high

cholesterol, and asthma.

Khaldoon earned his degree in software engineering from

Carleton University in Canada and later went on to obtain an

MBA from the University of Cambridge. His diverse career

has spanned both engineering and strategy roles in top global

and regional technology companies, giving him a unique

perspective on both the technical and strategic aspects of

business growth and innovation. Before founding Alma Health,

he served as the Head of Strategy and Business Performance

at Careem, the Middle East’s first unicorn, where he played

a key role in the company’s success.

At Alma Health, Khaldoon leads a direct-to-patient digital

healthcare platform that allows individuals to access medical

consultations through a mobile application. The platform

offers a range of services, including in-home lab tests and

consultations with a panel of licensed in-house general practitioners,

making healthcare more accessible and convenient

for patients.

In addition to his professional achievements, Khaldoon is

deeply passionate about healthcare beyond his work. He actively

fundraises to support cancer research in Canada through

annual cycling trips, further demonstrating his commitment

to making a difference in both the healthcare industry and in

the lives of those affected by chronic conditions and cancer.

Under Khaldoon’s leadership, Alma Health has rapidly become

a trusted digital healthcare provider, reshaping how patients

with chronic conditions access care and empowering them to

take control of their health with the support of technology.

About

Alma Health is a digital healthcare provider focused on improving

the lives of individuals with chronic conditions by

offering a seamless, technology-driven healthcare experience.

Through its platform, users can book virtual consultations with

licensed doctors, receive prescriptions, and have medications

delivered to their doorstep at no additional cost. Operating in

the Middle East, the company has a strong presence in Abu

Dhabi and plans for expansion in Dubai and Saudi Arabia.


LENNAERT

RIJKEN

Vice President (Commercial), Middle East and

Africa

AbbVIE

PHARMACEUTICALS

Lennaert Rijken brings nearly two decades of global

pharmaceutical leadership experience to his current

role overseeing AbbVie’s operations across the Middle

East, and Africa. Since March 2022, Rijken has been based in

Dubai, UAE, where he leads a workforce of 1,200 professionals

across this diverse and dynamic region.

Rijken’s career with AbbVie spans over 11 years, beginning

in July 2012 when he joined as business unit director for immunology.

His trajectory within the organization demonstrates

consistent growth and expanding responsibility, from senior

commercial director for Western Europe and Canada for two

years to general manager of the Netherlands for five years

before assuming his current regional leadership position.

Prior to AbbVie, Rijken spent six years at Abbott Laboratories

in various strategic roles, including commercial director for

Asia/Australia/Africa/Middle East and business unit director

for immunology in China. This experience across multiple

continents including leadership positions in Chicago, Shanghai,

Singapore, Sydney, Paris, Amsterdam, and Dubai has given

Rijken a truly global perspective on healthcare markets and

pharmaceutical operations.

Under Rijken’s regional leadership, AbbVie has continued

to strengthen its presence in the Middle East. A notable

milestone came in October 2022 when the company formed a

strategic collaboration with the Department of Health in Abu

Dhabi focused on advancing manufacturing capabilities and

conducting clinical research in the region. This partnership

aligns with AbbVie’s commitment to driving medical innovation

and improving healthcare outcomes for patients in the UAE

and beyond. AbbVie, a publicly-traded biopharmaceutical

company founded in 2013 as a separate entity from Abbott,

has grown into a global healthcare leader with a presence in

over 70 countries and more than 50,000 employees worldwide.

The company maintains over 250 partnerships with leading

biotechnology firms, universities, non-profit organizations,

and government entities. This collaborative approach to

healthcare innovation has contributed to AbbVie’s substantial

global performance, with the company recording over $58

billion in revenues in 2022.

Rijken’s extensive international experience and proven

track record in commercial leadership positions him well to

navigate the complex healthcare landscapes across the Middle

East, Africa, and Russia, furthering AbbVie’s mission to make

a remarkable impact on patients’ lives through innovative

medicines and solutions. His regional expertise drives key

collaborations and accelerates access to innovative therapies.


MAJD ABU

ZANT

Co-Founder, Managing Director & CEO

Ovasave and Global Fertility

FERTILITY & IVF TREATMENT

Majd Abu Zant is a distinguished leader in the MENA

region’s healthcare sector, with over 25 years of experience

in driving innovation, managing large-scale

medical institutions, and shaping the future of patient care.

With a Master’s degree in Healthcare Management from the

Royal College of Surgeons in Ireland and a Bachelor’s in Microbiology

and Immunology from McGill University, Canada,

he has built a strong foundation for transforming healthcare

services across the region.

His leadership at United Eastern Medical Services (UE-

Medical) played a pivotal role in expanding the organization’s

presence in the UAE and Saudi Arabia. Under his guidance,

UEMedical grew into a major healthcare provider, culminating

in its acquisition by Mubadala Health in 2021. Prior to this, he

held senior roles at the King Hussein Cancer Center, serving

as Deputy COO and Director of Support Services.

In July 2022, Abu Zant founded the Global Fertility Network

and co-founded OvaSave Health Technologies, ventures focused

on revolutionizing fertility care. His initiatives secured

$60 million in funding, with plans to establish a cutting-edge,

3,500-square-meter fertility clinic in Riyadh by early 2024. His

commitment to innovation is evident in his work on making

fertility treatments more accessible and technologically

advanced.

Beyond executive leadership, Abu Zant has spearheaded

greenfield and brownfield healthcare projects, led mergers and

acquisitions, and mentored health-tech startups. His ability to

navigate complex business landscapes has established him as

a transformative figure in the industry. As he looks ahead, Abu

Zant remains committed to advancing patient care, fostering

medical innovation, and mentoring the next generation of

healthcare leaders. With a steadfast vision, he continues to

pioneer industry innovations that set new benchmarks for

excellence and reshape the future of healthcare.

About

Ovasave is a UAE-based ‘Femtech’ company that aims to make

egg freezing more accessible and affordable for women. As

the MENA region’s first platform of its kind, Ovasave offers

at-home fertility testing kits, enabling women to assess their

reproductive health conveniently.

Whereas, Global Fertility is establishing a premier network

of fertility and reproductive genetics centers across the

Middle East, initially concentrating on the Kingdom of Saudi

Arabia. It aims to revolutionize fertility and women’s health

by partnering with global industry leaders, and maintaining

a strong focus on patient care.


MAJID

KADDOUMI

Senior Vice President, Europe, Middle East,

Africa & Asia Pacific (EurAsia)

Medtronic

MEDICAL DEVICES

Majid Kaddoumi stands at the helm of Medtronic’s

operations across the Middle East, Africa, Central

& Eastern Europe, and Russia, leading a substantial

team of over 10,000 professionals. His leadership has produced

tangible results, with Medtronic training more than

38,000 healthcare professionals and key opinion leaders in

the region in 2023 alone, while expanding treatment to an

additional 500,000 patients.

Kaddoumi’s journey with Medtronic began in 2012, when

he joined with primary responsibility for the Middle East &

Africa region. His portfolio later expanded to include Central

& Eastern Europe and Russia, reflecting his success in building

local capabilities, developing effective market strategies,

and implementing key strategic plans to advance healthcare

throughout these diverse regions.

A pivotal moment in his tenure came in 2013, when Kaddoumi

relocated Medtronic’s regional headquarters from Beirut,

Lebanon to Dubai, United Arab Emirates, establishing a foundation

for the company’s continued growth in the region. His

leadership excellence was recognized globally in 2014 when

he received the prestigious Wallin Award, Medtronic’s highest

leadership honor. With over 25 years of experience spanning

operations, services, and medical technology, Kaddoumi brings

substantial commercial and operational expertise to his role.

Prior to joining Medtronic, he served as General Manager

for General Electric Healthcare (GEHC) in Saudi Arabia,

where his achievements and business innovations earned

him several Presidential Awards. His entrepreneurial spirit

was evident even earlier in his career when he successfully

built and established two companies before moving into the

corporate world.

Under Kaddoumi’s regional leadership, Medtronic has

continued to expand its healthcare initiatives. A notable development

came in 2022 with the opening of a diabetes clinic

in Saudi Arabia, established in collaboration with the Ministry

of Health to improve patient outcomes and care for type 1

diabetes. Beyond his corporate responsibilities, Kaddoumi

maintains an active presence in the business ecosystem as a

board member for several companies and startups.

Kaddoumi’s educational background includes a Bachelor’s

degree in Public Administration and Economics, complemented

by a Master’s degree in International Law from the American

University in Washington DC, U.S.A. This combination of

business acumen, healthcare expertise, and international

perspective continues to shape his approach to advancing

healthcare outcomes across the regions under his leadership.


MAKRAM

TEBBI

Managing Director

Mobilis

PROSTHETICS AND ORTHOTICS

Makram Tebbi is a German Certified Prosthetist &

Orthotist Master with over 30 years of experience

in the field of prosthetics and orthotics. He is highly

skilled in specialized areas such as spinal orthotics (scoliosis

and kyphosis) and sub-speciality prosthetics for adults.

Throughout his career, Makram has worked in a variety of

roles, including clinical consultation, technical support, and

patient services. He has also been a pioneer in integrating

technology into custom orthotic and prosthetic solutions.

Makram began his journey in Stuttgart, Germany, where

he graduated in Orthotics and Prosthetics in 1992. He gained

valuable experience at renowned institutions, including “Rahmouni

Orthopaedic Technologies” and “Weber & Greissinger”

pediatric centre. He later took on leadership roles, such as

Head of the Orthotic Department at “Hartlieb Orthotic &

Prosthetic Centre” and Managing Director at “Nonnengaesser

& Tebbi Orthopaedic Technologies,” before moving to Saudi

Arabia to manage the Prosthetics and Orthotics Department

at Sultan bin Abdelaziz Humanitarian City

In 2017, Makram played a key role in the establishment of

MOBILIS, where he currently serves as the Managing Director

and Orthotic and Prosthetic Specialist. His clinical expertise

covers spinal correction, lower limb orthotics for neurological

conditions, and advanced lower limb prosthetics.

Makram is also committed to continuous learning and

has earned certifications in microprocessor prosthetic technologies.

He has authored numerous publications and is a

regular speaker at international conferences. He did a Masters

of Business Administration (MBA) at Edinburgh Business

School, Heriot-Watt University in Dubai to further enhance

his leadership and strategic skills.

About

Mobilis is a leading provider of assistive technology services

in the UAE, specializing in orthotics, prosthetics, and seating

and positioning solutions, aimed at improving the lives of

individuals with mobility challenges. The company combines

advanced technology with personalized care to create customized

products that enhance both functionality and comfort.

Mobilis offers a comprehensive range of services, including

the design and manufacture of custom braces and supports

(orthotics), personalized artificial limbs (prosthetics), and

specialized seating systems that improve posture, comfort,

and mobility for individuals with disabilities. With two primary

facilities located in Dubai, Mobilis can deliver exceptional

patient care and high-quality products.


MANSOUR IBRAHIM

AL MANSOURI

Chairman

Department of Health - Abu Dhabi

GOVERNMENT

Mansour Ibrahim Al Mansouri stands as a pivotal figure

in Abu Dhabi’s governance and healthcare landscape,

serving as a member of the Abu Dhabi Executive

Council and Chairman of the Department of Health in Abu

Dhabi. His leadership journey spans diverse sectors including

telecommunications, energy, and technology, where he has

consistently demonstrated exceptional capability in strategy

development, institutional building, and performance

management.

As Group Chief Operating Officer of G42, Al Mansoori managed

strategic partnerships, innovation initiatives, capacity

building, business transformation, revenue optimization,

brand development, organizational culture, and leadership

development. His tenure at G42 was marked by significant

achievements, including his active involvement in the UAE’s

national response to the COVID-19 pandemic.

One of his most notable accomplishments came as Chairman

of Bayanat, where he successfully led the company’s

public listing on the Abu Dhabi Securities Exchange (ADX).

Prior to joining G42, Al Mansoori served as Director General

of the UAE National Media Council from 2015 to 2020.

During this period, he transformed the Council’s regulatory

services, media policies, national media wire services, and

strategic communications. His effective leadership resulted

in the Council winning the Government Excellence Award

as the Most Improved Entity in 2018.

Throughout his tenure at the National Media Council, Al

Mansoori made significant contributions to the UAE’s brand

and reputation management across local, regional, and international

spheres. He introduced innovative policies and

frameworks that enhanced the country’s media and digital

communication capabilities while fostering industry innovation

and development.

Additionally, he is a member of the Board of Trustees

at Mohamed bin Zayed University of Artificial Intelligence

(MBZUAI). Al Mansoori’s educational background reflects his

commitment to continuous learning and development. He was

among the first cohort to receive a Master’s degree in Strategic

Security Studies and National Resources Management from

the National Defense College (UAE). He holds a Bachelor’s

degree in Computer Science from the University of Toledo

(Ohio, USA) and has further enhanced his expertise through

specialized certifications, including a Leadership Certificate

from London Business School (UK) and an Innovation Strategy

Leadership certification from the Massachusetts Institute of

Technology (MIT).


MARK

ADAMS


Clemenceau Medical Center Hospital - Dubai

PRIVATE HOSPITAL

Mark Adams is a dynamic leader in the healthcare

sector with over 35 years of experience managing

organizations across healthcare, social care, and

financial services. As a seasoned CEO, he has a proven track

record of leading both large multinational corporations and

transformative start-up ventures, particularly in the healthcare

industry, where his leadership has brought about meaningful

change and innovation. Currently, Mark serves as the CEO of

Clemenceau Medical Center(CMC) Hospital in Dubai, where

his mission is to redefine patient care and elevate healthcare

services to new heights.

Mark’s career spans the UK, USA, and the GCC, with a

unique ability to navigate diverse markets and cultures.

He has held senior roles at some of the most prestigious

organizations in the industry, including Denplan, AXA PPP,

Virgin Healthcare, Vitality Healthcare, and Netcare UK. His

leadership has shaped several private equity-backed ventures,

listed companies, and even large charities, including his tenure

as CEO of Community Integrated Care, one of Britain’s

largest social care charities. Under his leadership, the charity

became nationally recognized for its innovation and impact,

supporting over 4,000 individuals and employing 6,500 people.

Mark’s journey in the Middle East began with his role in

founding Anglo Arabian Healthcare (AAH), an integrated

network of clinics, diagnostic centers, hospitals, and pharmacies

in Dubai. AAH grew rapidly, becoming one of the

largest healthcare operators in the region. His expertise in

scaling healthcare organizations and driving performance is

unmatched, making him a highly sought-after advisor and

board member across various sectors.

With a deep understanding of healthcare management, Mark

is passionate about building empowered, high-performing

teams. He firmly believes that the foundation of successful

healthcare organizations lies in a motivated workforce aligned

with a compelling vision, led by a strong and effective senior

leadership team. This approach has consistently delivered

exceptional shareholder results throughout his career.

In addition to his extensive executive experience, Mark

is focused on building his portfolio career through Non-Executive

and Chair roles. He also has a particular interest

in executive coaching, where he seeks to mentor the next

generation of healthcare leaders and impart his knowledge

of strategic leadership. Mark’s leadership at CMC aligns with

his overarching goal to raise the bar in healthcare services

across the Middle East. He continues to make a significant

impact on the industry, both regionally and internationally.


MARWAN AL

KAABI


Sheikh Shakhbout Medical City (SSMC)

GOVERNMENT HOSPITAL

Marwan Al Kaabi is the Chief Executive Officer (CEO)

of Sheikh Shakhbout Medical City (SSMC), bringing

over 17 years of extensive experience in healthcare

management and operations. His expertise lies in driving operational

efficiency, improving customer care, and managing

enterprise risk. Al Kaabi has earned a strong reputation for

successfully leading large teams and navigating complex

operations across various healthcare settings.

Before joining SSMC, Al Kaabi held a critical role as the

Chief of Critical Infrastructure Management and Response at

PureHealth, where he was responsible for safeguarding critical

infrastructure and functions. His work included developing

and implementing incident and crisis management plans, as

well as establishing stringent security protocols and health

and safety standards.

Al Kaabi also served as the Chief Operations Officer (COO)

at Abu Dhabi Health Services Company (SEHA), where his

visionary leadership played a key role in advancing healthcare

delivery through various strategic initiatives. His contributions

to the healthcare sector are extensive, and he continues to

bring a wealth of experience and a proven track record of

success to his current position at SSMC.

In addition to his professional accomplishments, Al Kaabi is

a member of the Advisory Board of the United Arab Emirates

University. He holds a Medical Doctor (M.D.) degree and has

pursued advanced education, including a Master’s degree in

Health Emergency Management from Boston University and

an executive certificate in Managing Healthcare Delivery

from Harvard Business School. His academic background

complements his hands-on experience, equipping him with a

comprehensive understanding of both medical practice and

healthcare management. Furthermore, he turns academic

insights into practical solutions, spurring innovative strategies

that boost patient care and efficiency.

About

Sheikh Shakhbout Medical City (SSMC) is one of the largest

and most advanced hospitals in the UAE, established as

part of the Abu Dhabi Economic Vision 2030 to elevate the

healthcare services in the emirate. As a world-class medical

destination, SSMC reinforces Abu Dhabi’s vision of becoming

a global healthcare hub. The facility is designed to provide

patients with exceptional healthcare services, backed by

cutting-edge technologies, advanced medical equipment, and

world-class diagnostic capabilities. The hospital’s commitment

to innovation and patient-centered care positions it as

a leader in the healthcare sector.


MARYAM MOHAMED

FATIMA MATAR

Founder and Chairperson

UAE Genetic Diseases Association

GOVERNMENT

At the forefront of genetic research and public health

innovation in the UAE stands Maryam Matar, a trailblazer

whose influence extends across healthcare

policy, genetic disease prevention, and women’s leadership

in science.

As the first Emirati woman to serve as Undersecretary to

the Minister of Health in 2006, Matar designed transformative

blueprints for public health and primary care. Her initiatives

dramatically expanded primary healthcare centers across

the Northern Emirates, increasing their number from 52 to

97, a testament to her commitment to accessible healthcare

for all UAE residents. In 2004, Matar founded the UAE Genetic

Diseases Association (UAEGDA) and the Sheikh Zayed

Genetics Research Centre, organizations that have become

cornerstones of genetic research in the region. Under her

leadership, UAEGDA has conducted genetic screening for

over 37,000 Emirati families and 13,000 expatriate families,

working toward her ambitious goal of improving the genetic

health of future generations by 2021.

Her pioneering work in epigenetics and regenerative

therapies has earned her more than 35 prestigious scientific

and leadership awards. Matar’s “Reprogram Your Genes”

awareness program has been adopted by over 200 academic

institutions and 150 organizations, engaging audiences from

students to professionals in embracing healthier lifestyles. In

2008, Matar broke another barrier when she was appointed

Director General of the Community Development Authority

in Dubai, becoming the first woman to hold such a high-level

position in a UAE government institution. She previously

led the executive team that developed social development

strategies for the Dubai Strategic Plan 2007-2015.

Beyond her research and administrative achievements,

Matar is a powerful advocate for women in science, technology,

engineering, and mathematics (STEM). She serves

as chairperson or senior advisor on over 15 international,

regional, and local committees focused on women in STEM,

youth leadership, and preventive healthcare initiatives. Each

year, she mentors more than 100 professional women and

500 young graduates. In 2018 alone, she spoke to more than

2,500 professionals, scientists, healthcare experts, and students

across China, Bahrain, Europe, and the UAE. Through

her groundbreaking scientific work, policy leadership, and

commitment to mentoring the next generation, Maryam

Matar continues to transform healthcare in the UAE while

establishing the country as a global hub for genetic research

and innovation.


MOHAYMEN

ABDELGHANY

Chief Executive Officer and Vice President

Fakeeh University Hospital and Fakeeh Care - UAE

PRIVATE HOSPITAL

Mohaymen Abdelghany is the Vice President of Fakeeh

Care, UAE, and the Chief Executive Officer of

Fakeeh University Hospital (FUH), Dubai. With over

two decades of experience in the global healthcare industry,

Mohaymen brings a wealth of expertise in clinical practice,

managerial roles, healthcare quality, operations management,

and strategic partnerships. His leadership also extends to

consulting, mergers and acquisitions, technology, digital

transformation, and new business development, allowing

him to navigate the complexities of healthcare systems and

drive positive change.

As CEO of FUH, he oversees the hospital’s operations and

sets its strategic direction, ensuring that the institution meets

its mission of transforming healthcare through innovation and

excellence. Mohaymen is also deeply involved in fostering

relationships with key stakeholders, including government

bodies, academic institutions, and industry leaders, to promote

collaborations that enhance FUH’s services. His commitment

to sustainability and ethical practices guides the organization,

ensuring compliance with evolving healthcare standards.

In his leadership role, he prioritizes professional development,

fostering a culture of continuous learning and improvement

within FUH. This approach empowers the team to innovate

and contribute to the hospital’s growth, both locally and

internationally. His focus on quality assurance programs and

patient-centered initiatives has solidified FUH’s position as

a leader in the healthcare sector.

Previously, Mohaymen has served as a Physician Consultant

with Joint Commission International (JCI), advising hospitals

and health systems worldwide on advancing healthcare

standards. He has a strong academic background, holding

an MD and advanced education from prestigious institutions

like Harvard and INSEAD, along with two master’s degrees

in anesthesia and healthcare management. With his extensive

expertise and leadership, he continues to steer Fakeeh

University Hospital toward new heights of excellence in

healthcare delivery and innovation.

About

Fakeeh University Hospital, located in Dubai Silicon Oasis,

is a part of the broader Fakeeh Care network, which has

built a solid reputation over four decades in Saudi Arabia,

the hospital aims to set new benchmarks in medical care.

The facility offers comprehensive services that span primary,

secondary, and tertiary care, ensuring patients receive holistic

treatment for a wide range of conditions.


MUNA ABDUL

RAZZAQ TAHLAK


Latifa Hospital

MATERNITY AND WOMEN’S HEALTH

As Chief Executive Officer of Latifa Hospital since March

2014, Muna Abdul Razzaq Tahlak oversees a 347-bed

specialized maternity hospital that performs approximately

5,000 deliveries annually, with a focus on high-risk

pregnancies. Under her leadership, the hospital has achieved

prestigious recognitions, including international accreditation

for its gynecological laparoscopic service as a Centre

of Excellence and certifications as both a child-friendly and

mother-friendly hospital.

Tahlak’s journey to healthcare leadership began with academic

excellence. In 1997, she graduated at the top of her

class in pathology from the Royal College of Surgeons of

Ireland. She then made history as the first Emirati woman to

complete a specialization in obstetrics and gynecology at Johns

Hopkins Hospital in the United States. Her credentials include

American Board Certification in Obstetrics and Gynecology

and fellowship in the American Congress of Obstetrics and

Gynecology since 2005.

After practising as an obstetrics and gynecology consultant

in the United States from 2004 to 2006, Tahlak returned to the

UAE, joining Latifa Hospital (formerly Al Wasl Hospital) as a

Consultant Obstetrician/Gynecologist. Her career progression

through Assistant Head and then Head of Obstetrics and Gynecology

demonstrated her clinical leadership capabilities

long before her executive appointment. During her tenure

as department head, Tahlak pioneered the development of

minimally invasive surgery services at the hospital. One of

her most significant contributions was establishing outpatient

office hysteroscopy procedures without the need for

hospitalization or anesthesia, a major advancement in patient

comfort and resource utilization.

Her commitment to medical education is reflected in her

service as Director of the Dubai Health Authority’s Obstetrics

and Gynecology Residency Program from 2007 to 2010 and

her current role as Adjunct Faculty at Mohammed Bin Rashid

University in Dubai. She further enhanced her administrative

expertise by completing an Executive Master of Public Administration

from Mohammed Bin Rashid School of Government

in 2020. Tahlak’s influence extends far beyond Dubai.

In October 2023, she began her mandate as President of the

International Hospital Federation (IHF), following her election

as President Designate in November 2021 after serving as IHF

Treasurer. She also serves as President of the Obstetrics and

Gynecology Society of Emirates Medical Association. Tahlak

continues to advance women’s healthcare through her unique

combination of clinical expertise, and executive leadership.


NASER

AL YAMMAHI

Deputy Chief Executive Officer

Hayat Biotech

BIOTECHNOLOGY

collaboration with the Kenya BioVax Institute in March 2024

for vaccine research and development. Previously, as Head of

Strategic Partnerships at G42, he shaped high-value business

engagement strategies and procurement initiatives. His tenure

as Acting Executive Director at the UAE Ministry of State,

under Sultan Al Jaber, saw him identifying cross-sectoral

opportunities and driving policy innovation.

One of Al Yammahi’s most notable contributions was leading

the 4Humanity clinical trials, the world’s first Phase III

trials of an inactivated Covid-19 vaccine. His efforts paved

the way for the launch of Hayat-Vax, the first Covid-19 vaccine

developed in the MENA region, a milestone in regional

healthcare history. From pioneering vaccine development to

spearheading international collaborations, Naser Al Yammahi

continues to shape the UAE’s biotech revolution, positioning

the region as a leader in global healthcare innovation.

With over 15 years of experience in both public and

private sectors, Naser Al Yammahi has been a driving

force in advancing the UAE’s biotechnology and life

sciences landscape. As Deputy CEO of Hayat Biotech, he leads

the company’s mission to enhance the region’s biopharmaceutical

capabilities, foster global research collaborations,

and strengthen healthcare innovation.

Al Yammahi played a key role in establishing Hayat Biotech

in 2021, overseeing the development of the Life Sciences

Park in Abu Dhabi and a manufacturing plant in Serbia. His

leadership has also extended beyond the UAE, securing

strategic partnerships with 64 countries, including a recent

About Hayat Biotech

Founded in 2021 as a strategic partnership between Sinopharm

CNBG and Abu Dhabi-based AI firm G42, Hayat Biotech has

rapidly emerged as a key player in the global biotechnology

and life sciences sector. Headquartered in Abu Dhabi, the

company is dedicated to advancing healthcare through cutting-edge

innovations in biologics, diagnostics, aesthetics, and

animal health. With a mission to provide equitable access to

essential medicines, Hayat Biotech is bolstering the UAE’s

position as a global life sciences hub.

The company operates state-of-the-art facilities in Abu

Dhabi and Belgrade, with a combined annual production

capacity of 230 million vials, ensuring large-scale pharmaceutical

manufacturing and distribution. Beyond production,

Hayat Biotech is actively shaping the future of healthcare

by fostering collaborations, driving research, and hosting

discussions on life sciences innovation.


OLE PER

MALOY

Senior Vice President - Head of Africa

Siemens Healthineers

MEDICAL TECHNOLOGY & DIAGNOSTICS

Ole Per Maloy, Managing Director for the Middle East

and Africa at Siemens Healthineers, is driven by a vision

to make healthcare more affordable, accessible,

and inclusive, especially for vulnerable communities. Since

joining Siemens Healthineers in 2018, he has been instrumental

in shaping the company’s growth strategies, strengthening

relationships with healthcare providers, and expanding the

educational reach of Siemens Healthineers Academy. With

a career spanning regional and international leadership, his

expertise continues to foster innovation and sustainability

in the healthcare sector.

Under his leadership, Siemens Healthineers has reinforced

its long-standing presence in the region by cultivating strong

partnerships with healthcare professionals. Recognizing that

diversity fuels innovation, Maloy leads a multicultural team

of over 50 nationalities, fostering an inclusive environment

that strengthens the company’s ability to address diverse

healthcare challenges.

Siemens Healthineers’ 2024 Sustainability Report underscores

the company’s pledge to making a measurable impact.

With a goal of achieving 3.3 billion patient touchpoints by

2030, the company aims for 1.25 billion of those to be in lowand

middle-income countries. This reflects its dedication to

bridging healthcare gaps across underserved regions.

Sustainability is another key focus, with Siemens Healthineers

setting an ambitious target to achieve Net Zero emissions

by 2050. The company has already made significant

progress, reducing greenhouse gas emissions by 40% in fiscal

year 2024. By collaborating with suppliers and customers,

it is building a more circular and decarbonized value chain

that aligns with global sustainability goals. Additionally, the

company has met its diversity and external recognition targets

for 2025—a year ahead of schedule. These achievements

highlight its proactive approach to fostering a more equitable

and innovative workplace.

Ole Per Maloy’s journey in business and leadership is

backed by a strong educational foundation. He holds an

MBA in Business from BI Norwegian Business School and

attended Ålesund University College. His extensive experience

and strategic vision continue to drive Siemens Healthineers

toward a future where healthcare is not just advanced but

accessible to all.

Through his leadership, Siemens Healthineers is not only

transforming healthcare but also reinforcing its role as a

catalyst for change, ensuring that innovation, sustainability,

and inclusivity remain at the core of its mission.


OMRAN

AL KHOORI

Chairman

Response Plus Holding (RPM)

EMERGENCY & AMBULANCE SERVICES

Omran Al Khoori is a distinguished Emirati business

leader who has made significant contributions to

healthcare, corporate governance, and strategic development

across the United Arab Emirates. As the Chairman

of Response Plus Holding(RPM), he has been instrumental

in transforming the organization into the region’s leading

pre-hospital medical services provider, strategically expanding

its operations throughout the UAE, Saudi Arabia, and

beyond. His educational foundation from Suffolk University

in Boston, Massachusetts, equipped him with a robust business

administration background that has been pivotal in his

remarkable professional journey.

Al Khoori’s leadership extends beyond RPM, as he serves

as a Member of the Board of Directors at Burjeel Holdings,

where his strategic vision has been crucial in establishing

the organization as a premier super-specialty healthcare

services provider in the Middle East and North Africa (ME-

NA) region. His commitment to enhancing healthcare quality

and promoting Emirati participation in the private sector

has been particularly noteworthy, with significant efforts

directed towards integrating UAE nationals into leadership

roles within the healthcare industry.

His influence in the corporate landscape is further

demonstrated through his board memberships at several

prestigious organizations, including Amanat Holdings, Al

Maryah Community Bank, and Aman Insurance Company. In

each of these roles, Al Khoori brings strategic insights and a

forward-thinking approach that drives organizational growth,

innovation, and operational excellence. As the Chairman of

Keita Catering LLC, he also oversees one of the UAE’s leading

catering and hospitality solutions providers, showcasing his

diverse business acumen.

Beyond his corporate responsibilities, Al Khoori is deeply

committed to social impact and human rights. Serving as the

Secretary General of the Union for Human Rights Association,

he actively contributes to national and international human

rights initiatives, aligning his professional achievements with

meaningful societal contributions. His advocacy extends to

policy development, corporate social responsibility programs,

and grassroots initiatives aimed at promoting inclusivity and

economic empowerment. In addition to his human rights

efforts, Al Khoori plays a pivotal role in fostering innovation

and economic diversification in the UAE. He collaborates

with government entities, private enterprises, and non-profit

organizations to drive sustainable development, ensuring that

economic progress aligns with ethical and social considerations.


PELIN

INCESU

Area Vice President, Middle East & Africa

AstraZeneca

PHARMACEUTICALS

From psychiatrist to pharmaceutical executive, Pelin Incesu

has charted an extraordinary career trajectory within

AstraZeneca, breaking barriers and driving significant

business growth while championing sustainability and diversity

across the Middle East and Africa. After beginning her career

as a practising psychiatrist, Incesu joined AstraZeneca in her

native Türkiye in 2000. Her talent and dedication propelled

her through multiple leadership positions, culminating in a

historic achievement as the first Turkish woman to become

an AstraZeneca country president.

Following her role as Vice President of Commercial Strategy,

International, Incesu assumed the position of Area Vice

President of Middle East & Africa in 2020, taking the helm

during one of the most challenging periods in recent healthcare

history. Despite taking on her regional leadership role

amid the uncertainty of the COVID-19 pandemic, Incesu led

AstraZeneca to remarkable success. Within just one year

of her appointment, the company recorded $1.2 billion in

revenue from MEA operations, demonstrating exceptional

growth under her stewardship.

Perhaps most notably, Incesu oversaw the critical distribution

of AstraZeneca’s COVID-19 vaccine across 61 countries

in the Middle East and Africa through the COVAX initiative,

ensuring life-saving vaccines reached developing nations

during an unprecedented global health crisis. Incesu’s leadership

extends beyond business metrics to environmental

stewardship.

As a passionate advocate for sustainability, she has spearheaded

multiple initiatives aligned with AstraZeneca’s global

Ambition Zero Carbon commitment. Her accomplishments

include launching the AZ Forest reforestation initiative

in Ghana and Rwanda, inaugurating LEED gold-certified

offices in Cairo, and developing sustainable facilities at the

Dubai Science Park. At global climate conferences including

COP27 in Sharm El-Sheikh and Dubai EXPO 2020, Incesu has

positioned AstraZeneca as a leader in addressing the critical

intersection of climate and health.

As the international leader sponsor for AstraZeneca’s Global

Inclusion & Diversity Council, Incesu is actively working toward

achieving gender parity across all organizational levels

by 2025. Today, Incesu leads a team of 2,500 professionals

dedicated to delivering healthcare solutions for patients

facing challenges from cancer to cardiovascular conditions,

respiratory ailments, and rare diseases across the Middle

East and Africa, continuing to transform both the healthcare

landscape and corporate leadership paradigms in the region.


RASHAD

AL MOOSA

Joint Managing Director, Partner and Member

of the Board

GulfDrug

PHARMACEUTICAL DISTRIBUTION

For over two decades, Rashad Al Moosa has been instrumental

in the growth and transformation of GulfDrug,

a company that has played a vital role in shaping the

UAE’s healthcare landscape. As the Joint Managing Director,

Partner, and Member of the Board, Al Moosa has tirelessly

worked to enhance the organization’s performance, ensuring

it continues to provide cutting-edge products and services

while upholding its legacy and core values.

A finance graduate from Suffolk University, USA, Al Moosa

joined GulfDrug in 2001, bringing a deep understanding of

business administration, financial markets, and healthcare

management. His commitment to operational excellence and

strategic expansion has propelled GulfDrug to new heights,

cementing its status as a leader in the medical industry.

Under his leadership, the company has embraced emerging

technologies, including high-tech medical equipment and

robotic surgery, reflecting its commitment to innovation and

quality healthcare solutions.

Beyond GulfDrug, Al Moosa has an extensive business

portfolio, demonstrating his investment and enterprise management

acumen. He is a partner in the Al Moosa Health Care

Group and the founder of multiple ventures, including Smart

Office Solutions, UAE, Arabian Home Healthcare, Jordan, Gulf

Med, Qatar, Black Wire ME, Saqeel Investments, and Al Moosa

General Trading. His entrepreneurial ventures span healthcare,

business management, and financial markets, showcasing his

ability to drive success across diverse industries.

Al Moosa’s pursuit of continuous learning is evident in his

participation in executive education programs at prestigious

institutions such as the London Business School. His expertise

in operational planning strategies and financial management

has been crucial in steering GulfDrug towards sustained

growth. GulfDrug’s journey from a pharmaceutical importer

in the 1970s to a comprehensive healthcare provider today

mirrors the UAE’s transformation. The company has expanded

its reach, supplying hospitals, clinics, and pharmacies across

the region with pharmaceuticals, medical equipment, and even

veterinary products. Through strategic vision and relentless

innovation, Al Moosa has played a key role in ensuring that

healthcare professionals and patients in the UAE have access

to the latest medical advancements.

Under his leadership, GulfDrug remains at the forefront of

the UAE’s healthcare evolution, dedicated to enhancing the

quality of medical services and contributing to a healthier

future. Rashad Al Moosa’s commitment to excellence continues

to drive the company forward.


RAZA

SIDDIQUI

Chief Executive Officer and Executive Director

Arabian Healthcare Group and RAK Hospital

HOSPITALS

With a career spanning more than four decades, Raza

Siddiqui has emerged as a transformative figure in

healthcare across India and the UAE, pioneering

medical tourism initiatives and establishing world-class

healthcare facilities that combine premium care with hospitality

excellence.

Siddiqui’s journey began as a management trainee at Lupin

Laboratories Limited, one of India’s top five pharmaceutical

firms, before moving to Ranbaxy Laboratories where he worked

in marketing and product management. His entrepreneurial

instincts surfaced early when he successfully launched

Stancare, a new company for Ranbaxy in North India. His

career took a pivotal turn in 1995 when he was appointed

Head of Corporate Communications/Affairs and Strategic

Planning for Indraprastha Apollo Hospital in New Delhi, the

flagship hospital of India’s renowned Apollo Hospitals Group.

His strategic approach proved transformative, the hospital

achieved financial viability within its first year of operations.

From 1998 to 2003, Siddiqui’s expertise took him to Dubai,

where he served as Director of Operations for Belhoul Speciality

Hospital on behalf of the Apollo Hospitals Group. During this

tenure, he collaborated with Joint Commission International

(JCI) for the hospital’s accreditation and initiated one of the

UAE’s first cardiac surgery programs, laying the groundwork

for his future focus on medical tourism. Before joining the

Arabian Healthcare Group (AHG), Siddiqui served as Executive

Director for ETA Star Healthcare, where he established joint

ventures with companies like India’s Trivitron Healthcare

for hospitals, clinical laboratories, and medical equipment

trading. He also led the development of RAK Hospital and

Dubai Lifestyle City during this period.

In 2006, Siddiqui joined AHG, where his vision has perhaps

had its most profound impact. As CEO, he has spearheaded

the establishment of premium medical speciality centres

across Ras Al Khaimah, focusing on accessible and affordable

medical care. His flagship project, RAK Hospital, recently

saw Dignity Health International (the international arm of

CommonSpirit Health) acquire a minority equity stake in 2023.

The hospital is currently undergoing expansion to reach 200

beds by the end of 2024.

Under his guidance, RAK Hospital has attracted significant

numbers of medical tourists from the Middle East, Africa,

and CIS countries, successfully putting Ras Al Khaimah on

the global medical tourism map. The hospital’s international

reach now extends to 11 countries, with particular focus on

Ethiopia, Tanzania, Nigeria, Afghanistan, and Pakistan.


REEM

OSMAN

Regional CEO and Vice Chairwoman

Saudi German Health UAE

HOSPITALS & CLINICS

With over 15 years of transformative leadership in

the healthcare sector, Reem Osman has become a

key figure in driving the future of healthcare in the

Middle East. As the Regional CEO of Saudi German Hospitals

Group UAE, she oversees the operations, growth, and

performance of eight hospitals and 12 clinics across seven

countries. Reem’s leadership is defined by her commitment to

improving healthcare accessibility, quality, and affordability,

making a significant impact on the communities she serves.

Reem’s diverse expertise, combined with her passion for

excellence and innovation, has been the cornerstone of her

success. She holds a master’s degree in Ophthalmology and

Eye Surgery from Tishreen University and a certificate in

Management Healthcare Delivery from Harvard Business

School. These qualifications, alongside her experience, have

enabled her to steer the Saudi German Hospitals Group towards

remarkable growth, transformation, and international

recognition.

Under her leadership, Saudi German Hospitals Group UAE

has expanded its services and achieved numerous milestones,

including key accreditations and awards. Reem’s strategic

vision has strengthened the group’s position as a leading

healthcare provider in the region. She has also championed

charitable and humanitarian efforts, playing a key role in initiatives

such as the Zayed Giving Initiative, the Arab Women

Foundation, and the Feigenbaum Leadership Award.

Reem’s leadership style emphasizes both empowerment

and patient care. She has been instrumental in driving the

group’s success, earning recognition as one of the most influential

women and business leaders in the Arab world. In her

role as Vice Chair of Women at Saudi German Health UAE,

Reem continues to inspire change by advocating for female

empowerment in the healthcare industry. Her contributions

extend beyond healthcare management, with a strong focus on

social impact through humanitarian action. Reem has served

as an Ambassador for Humanitarian Action at the Sheikh

Zayed Giving Initiative, leading medical support projects

in regions such as Sudan, Yemen, Bangladesh, Rohingya,

and Zanzibar. She also serves on the Advisory Board of the

School of Health and Environmental Studies at Hamdan Bin

Mohammed Smart University.

Reem’s dedication to the healthcare sector and her impactful

leadership have positioned Saudi German Hospitals as a key

player in both the healthcare industry and the rapidly growing

medical tourism market in the Middle East. Reem Osman’s

outstanding contributions have earned her a place in the UAE.


SAEED JABER AL

KUWAITI

Group Chief Executive Officer

Abu Dhabi Health Services Company - SEHA

GOVERNMENT HEALTHCARE NETWORK

With over 24 years of experience in healthcare leadership

and financial management, Saeed Jaber Al Kuwaiti

has been a driving force behind the evolution of the

UAE’s healthcare sector. As the Group Chief Executive Officer

of SEHA, Al Kuwaiti is responsible for shaping the strategic

direction and operational execution of the nation’s leading

healthcare network. His leadership ensures financial growth,

clinical excellence, and the continuous advancement of patient-centric

care in collaboration with Pure Health Group.

Having been part of the SEHA network since its inception

in 2007, Al Kuwaiti has held several pivotal roles, including

Chief Financial Officer at Tawam Hospital, Chief Executive

Officer at both Mafraq Hospital and Tawam Hospital, and

Regional CEO for the Al Ain Region, overseeing Tawam, Al

Ain, and Al Wagan Hospitals. His contributions have been

instrumental in positioning Tawam Hospital as a leading

centre for oncology care and Sheikh Khalifa Medical City as

a hub for pediatric cardiac surgery excellence. Additionally,

his efforts have strengthened Corniche Hospital’s reputation

as a premier feto-maternal service provider and SEHA Kidney

Care as the largest dialysis provider in the region.

A key architect of Abu Dhabi’s healthcare reforms, Al Kuwaiti

chaired the first insurance and billing committee that

successfully implemented mandatory health insurance in the

emirate. His leadership was also crucial in the activation of

Sheikh Shakhbout Medical City (SSMC) and Sheikh Tahnoon

Medical City (STMC), two state-of-the-art medical facilities

that have further cemented SEHA’s role in delivering worldclass

healthcare services. Al Kuwaiti’s academic credentials

include a Bachelor’s degree in Management Information

Systems from the University of Arizona, USA, and a Master of

Business Administration from Griffith University, Australia.

His expertise in financial and operational management has

been a cornerstone in SEHA’s ongoing journey.

About

Abu Dhabi Health Services Company PJSC, commonly known

as SEHA, is the primary provider of public healthcare services

in the Emirate of Abu Dhabi. Established in 2007, SEHA

operates a comprehensive network of healthcare facilities,

including hospitals, primary healthcare centers, and specialized

medical centers, ensuring the delivery of high-quality

care to both residents and visitors. By integrating advanced

medical technology with a patient-centered approach, SEHA

plays a critical role in enhancing the health and well-being

of the Abu Dhabi community.


SAMER

MASRI


DarDoc

HOME HEALTHCARE SERVICES

For over two decades, Samer Masri has been at the forefront

of healthcare technology innovation, combining

his technical expertise with entrepreneurial drive to

transform how patients access medical care. With an academic

foundation including a BSc in Medical Technology, an MBA,

and a Master of Applied Business Research, Masri has built

a career focused on making healthcare more accessible,

efficient, and patient-centered.

As Co-Founder and CEO of DarDoc, Masri is currently

leading a revolution in home healthcare delivery across the

UAE. His mission is clear: to enhance home healthcare through

innovative software solutions that make primary healthcare

services accessible anytime and anywhere. This vision for

DarDoc stems from Masri’s deep understanding of both

healthcare systems and technology integration, knowledge

gained through years of hands-on experience in the industry.

DarDoc distinguishes itself in the competitive home healthcare

market through its comprehensive approach to service

delivery. The platform doesn’t merely connect patients with

providers; it creates an immersive healthcare experience

complete with real-time reporting and monitoring capabilities.

Through the company’s mobile-enabled platform, currently

serving Abu Dhabi and Dubai, patients can access a remarkably

diverse range of services without leaving their homes.

The service offerings reveal Masri’s understanding of

evolving healthcare needs and even advanced treatments

including dialysis and vitamin IV drips. The comprehensive

service menu, all accessible through DarDoc’s iOS and Android

mobile apps, represents Masri’s vision of healthcare

that adapts to patients’ lives rather than forcing patients to

adapt to healthcare systems.

Before founding DarDoc, Masri demonstrated his business

acumen and industry expertise by successfully growing

FourMed for over 12 years. As a leading provider of solutions

for hospital surgical workplaces, FourMed thrived under

Masri’s leadership. His tenure there was marked by winning

multiple large operating theatre projects throughout the UAE

and significantly increasing the company’s profitability and

market value.

What distinguishes Masri in the healthcare technology

space is his rare combination of clinical knowledge, business

expertise, and technological vision. His competencies span

new business development, key account management, analytical

thinking, strategic planning, and operational excellence,

a versatile skill set that has enabled him to identify gaps in

healthcare delivery and develop innovative solutions.


SHAISTA

ASIF

Co-Founder and Group CEO

PureHealth

HEALTHCARE GROUP

Shaista Asif has played a pivotal role in reshaping the

UAE’s healthcare landscape. As the co-founder and Group

Chief Executive Officer of PureHealth, she has led the

organization’s expansion and transformation, making it the

fastest-growing healthcare company in the region.

Shaista’s journey began in 2001 in her home country of

Pakistan, where she worked as a consultant before joining

Mobilink in 2003 as Head of Project Management. She quickly

rose through the ranks to become the Director of Enterprise

Solutions, honing her expertise in operational strategy and

technological integration. In 2006, she partnered with Farhan

Malik to establish PureHealth Medical Supplies in the UAE,

focusing initially on diagnostic services.

Under her leadership, PureHealth evolved from a diagnostics

provider into a tech-driven healthcare powerhouse.

By 2012, the company was pioneering data-driven solutions,

solidifying its reputation as a healthcare technology enabler.

Over the last three years, Shaista has spearheaded the largest

number of healthcare acquisitions in the UAE, consolidating

hospitals, clinics, laboratories, health insurance, procurement,

and health-tech solutions under the PureHealth umbrella. Her

strategic vision has been instrumental in driving quality excellence,

operational efficiency, and growth across the sector.

Today, PureHealth stands as the largest integrated healthcare

network in the UAE, encompassing hospitals, clinics,

diagnostics, pharmacies, stem cell research centers, and

digital health innovations. Guided by a mission to advance the

science of longevity, PureHealth is pioneering groundbreaking

innovations to redefine healthcare delivery and unlock time

for humankind. Shaista Asif’s unwavering commitment to

merging technology with healthcare operations continues to

set new benchmarks in the industry, positioning PureHealth at

the forefront of medical advancements and transformational

change in the region.

About

PureHealth, based in Abu Dhabi, UAE, is the largest integrated

healthcare network in the Middle East. Established in 2006, the

company offers a comprehensive range of services, including

hospitals, clinics, diagnostics, pharmacies, health technology

platforms, stem cell research centers, procurement, and health

insurance services. PureHealth is committed to transforming

the healthcare landscape by providing high-quality care and

innovative solutions. Through its expanding network and investments,

PureHealth is poised to serve millions of patients

annually while advancing healthcare delivery worldwide.


SHAMSHEER

VAYALIL

Founder and Non-Executive Chairman

Burjeel Holdings

HOSPITALS & SPECIALIZED CARE

Shamsheer Vayalil is the Founder and Non-Executive

Chairman of Burjeel Holdings, a leading healthcare provider

in the UAE with an expanding footprint in Oman

and the broader GCC. An entrepreneur and philanthropist,

Shamsheer established Burjeel’s first hospital, LLH Hospital,

in Abu Dhabi in 2007, addressing the growing demand for

top-quality tertiary care in the UAE. Over the past 15 years,

his vision and dedication have propelled Burjeel Holdings

to become one of the largest and most dynamic healthcare

companies in the Middle East.

Under Shamsheer’s leadership, Burjeel Holdings has expanded

its operations to include a diverse portfolio of healthcare

services. The company’s network comprises brands such as

Burjeel, Medeor, LLH, Lifecare, and Tajmeel, which encompass

hospitals, medical centers, homecare services, occupational

health, and retail pharmacies. His strategic approach to healthcare

innovation and expansion has significantly improved the

quality and accessibility of healthcare services across the

region, positively impacting countless lives.

Shamsheer’s contributions to healthcare and entrepreneurship

have earned him numerous prestigious awards.

He is the recipient of the Pravasi Bharatiya Samman Award,

India’s highest civilian honor for Non-Resident Indians, and

has been recognized globally for his dedication to excellence

in healthcare and philanthropy. His work has also earned

him long-term residency status in both the UAE and Oman,

making him one of the first investors to achieve such a distinction.

Additionally, Shamsheer serves as a member of the

UAE Medical Council and is part of the advisory committee

for the University of Sharjah College of Medicine.

Born in Kozhikode, Kerala, India, Shamsheer’s commitment

to healthcare and philanthropy stems from his upbringing.

Raised in a family where charity was a fundamental value,

Shamsheer has continued to prioritize giving back through

various initiatives. His philanthropic efforts focus on improving

public health and inspiring the next generation of entrepreneurs

to contribute to social good. Shamsheer’s impact

extends beyond healthcare. As the Non-Executive Chairman

of Burjeel Holdings, he continues to steer the company toward

greater regional and international growth, addressing gaps

in healthcare and raising the standards of care. He has also

been instrumental in promoting Emirati talent in the healthcare

sector, earning accolades such as the Nafis Award for

enhancing Emirati participation in the industry.

Shamsheer’s leadership, and vision have made him a

prominent figure in the Middle East’s healthcare landscape.


SHANILA

LAIJU


Medcare Hospitals & Medical Centres UAE

HOSPITALS & CLINICS

With a career spanning more than two decades in

healthcare, Shanila Laiju has risen through the ranks

to become Group Chief Executive Officer at Medcare

Hospitals & Medical Centres in the UAE, establishing herself

as a leader who combines strategic vision with a deeply human-centred

approach to management.

Laiju’s professional journey began in 1994 when she entered

the field of dentistry after graduating from KMC Mangalore.

Rather than remaining in clinical practice, she found her

calling in administration, embarking on a remarkable career

progression that saw her advance from Clinic Supervisor to

Operations Manager to Group Chief Operating Officer before

assuming her current role as Group CEO. Along the way, she

enhanced her business acumen with an MBA from IIBM,

building the foundation for her data-driven yet people-focused

leadership style.

Over her 18 years with the organization, Laiju has transformed

Medcare’s internal culture by prioritizing team development

and employee well-being. Colleagues describe her leadership

approach as distinctively hands-on, characterized by strategic

decision-making and financial discipline that has created an

environment where employees feel valued, physicians are

satisfied, and patients place their trust in the institution. Laiju’s

impact extends beyond operational excellence. She has

successfully spearheaded organizational planning initiatives,

managed multimillion-dollar capital projects, navigated complex

contract negotiations, and developed high-performing

teams while simultaneously enhancing the brand’s visibility

and driving growth. Her communication skills and relationship-building

expertise have established her as a respected

voice within the broader medical community.

Beyond her executive responsibilities, Laiju serves as a mentor

in the Women Leadership program at Aster DM Healthcare,

helping to develop the next generation of female healthcare

leaders. Her influence extends to policy and strategic direction

through her six-year membership on the Aster DM Group’s

Senior Management Committee, where she has contributed

significantly to the expansion of UAE’s healthcare sector.

Sustainability represents a core value in her leadership

philosophy, she has championed numerous green initiatives at

Medcare, including programs to reduce electricity and water

consumption, implement comprehensive recycling systems,

manage e-waste responsibly, and transition to electronic

medical records. Her leadership drives operational excellence,

and social responsibility for shaping the UAE’s healthcare.


SHERIF

BESHARA


American Hospital Dubai

PRIVATE HOSPITAL

As the Group CEO of the Mohamed & Obaid Al Mulla

Group of Companies, Sherif Beshara is a seasoned

leader with extensive expertise in legal and corporate

sectors. Holding a Master’s Degree in International Law, his

career spans over a decade, with notable roles as legal counsel,

chairman, and corporate advisor. His expertise encompasses

finance, aviation, and corporate law, where he has advised

top executives on airline matters, major joint ventures, and

complex litigation.

Under his leadership, American Hospital Dubai has continued

its legacy as a premier private healthcare provider in

the Middle East. Established in 1996 as part of the Mohamed

& Obaid Al Mulla Group, the hospital was founded with

the mission to provide world-class medical services to the

community. Today, it stands as a 254-bed, acute care facility,

offering state-of-the-art medical and surgical services across

more than 40 specialties. Ensuring the highest standards of

care, all physicians at American Hospital are either American

Board Certified or hold equivalent international credentials.

American Hospital Dubai has pioneered several medical

achievements in the region. It was the first in the Middle East

to receive Joint Commission International (JCI) accreditation

and remains the only private sector facility in the region

accredited by the College of American Pathologists. Additionally,

the hospital is the inaugural member of the prestigious

Mayo Care Network and was the first in Dubai to establish a

comprehensive one-stop cancer care program. The hospital’s

Life Support Training Centre is also the first in a private UAE

hospital to be recognized as an American Heart Association

(AHA) International Training Center.

In August 2024, under Sherif Beshara’s leadership, American

Hospital Dubai announced the opening of three medical

tourism representative offices in Nigeria. This initiative is

part of a broader expansion strategy to establish 30 representative

offices across key African and Eastern European

markets, further cementing the hospital’s position as a global

healthcare leader. With a steadfast commitment to innovation,

international collaboration, and patient-centric care, Sherif

Beshara continues to drive American Hospital Dubai forward,

ensuring it remains at the forefront of medical excellence in

the UAE and beyond. Under his leadership, the hospital has

strengthened its position as a pioneer in advanced healthcare

solutions, embracing cutting-edge technologies such as

AI-driven diagnostics, robotic-assisted surgeries, and precision

medicine. His unwavering focus on patient well-being ensures

personalized, efficient, and high-quality care for every patient.


SUKHDEEP

SACHDEV

Global Chief Executive Officer

Leader Healthcare

MEDICAL EQUIPMENT & DISTRIBUTION

Since founding Leader Healthcare in 2009, Sukhdeep

Sachdev has transformed a regional medical supply

company into a multinational healthcare enterprise

spanning three continents. With his academic foundation in

Applied Science from the Postgraduate Institute of Medical

Education and Research, complemented by specialized training

in Sales and Marketing Management from the University of

Rajasthan, Sachdev has leveraged both scientific knowledge

and business acumen to build his healthcare empire.

Under Sachdev’s leadership, Leader Healthcare has established

itself as a vital link in the healthcare supply chain across

the Middle East and beyond. From its Dubai headquarters, the

company has methodically expanded its footprint to include

operations in Saudi Arabia, Qatar, Kuwait, Egypt, India, and

Australia, creating a truly global network for healthcare

product distribution.

What distinguishes Sachdev’s approach is his recognition

that the healthcare industry requires more than simple

product distribution. Through strategic diversification, he

has established three key subsidiaries to address different

market needs: Leader Life Sciences focuses on cutting-edge

medical technologies; Leader Edutech provides essential training

and educational resources for healthcare professionals;

and Leader Biotech Pharma specializes in pharmaceutical

products and biologics.

This portfolio strategy has enabled Leader Healthcare to

forge partnerships with industry giants like 3M, iS Clinical,

HealthWay, and Caire, positioning the company as a trusted

intermediary between global manufacturers and local healthcare

providers. By curating relationships with these high-profile

partners, Sachdev has ensured Leader Healthcare can deliver

state-of-the-art products to markets that might otherwise

struggle to access them. The company’s Indian operations,

established in 2011, represent a significant component of

Sachdev’s broader vision. Leader Healthcare India has developed

into a super-speciality healthcare organization serving

the evolving needs of the medical community across the subcontinent.

This expansion reflects Sachdev’s understanding

of emerging markets and his ability to adapt the company’s

business model to different regulatory environments and

healthcare systems.

Throughout his leadership tenure, Sachdev has maintained a

consistent mission of creating and providing a comprehensive

system of delivering healthcare and related services. Sukhdeep

Sachdev built an infrastructure that delivers medical supplies

and technologies, advancing healthcare in diverse markets.


THUMBAY

MOIDEEN

Founder and President

Thumbay Group

HOSPITALS & MEDICAL EDUCATION

Thumbay Moideen is a visionary entrepreneur who has

made significant contributions to the fields of healthcare,

education, and research. Thumbay’s journey from

a traditional business background to becoming a pioneering

force in the UAE’s healthcare sector is nothing short of remarkable.

At the age of 21, he took over his family’s business,

which laid the foundation for his future ventures. In 1997,

he founded the Thumbay Group in the UAE, transforming it

into a diversified conglomerate with operations across 20

sectors, including education, healthcare, medical research,

diagnostics, wellness, and more.

A true pioneer in the region, Thumbay Moideen’s leadership

led to the establishment of Gulf Medical University (GMU),

which has become one of the most sought-after private medical

universities in the UAE. The university attracts students from

over 75 nationalities and faculty from more than 22 countries,

fostering a dynamic environment for education and research.

His healthcare ventures, including the Thumbay Hospital network

and Thumbay Pharmacy, provide high-quality services

and employ advanced technologies to serve patients from

over 175 countries.

Thumbay Moideen’s influence extends beyond healthcare and

education. He has expanded the Thumbay Group’s portfolio

to include real estate, medical tourism, wellness, technology,

retail, publishing, and more. His story is one of perseverance,

innovation, and a commitment to improving lives globally.

Through his philanthropic efforts and contributions to the

community, Thumbay continues to inspire future entrepreneurs

and transform the healthcare landscape across the Middle

East, India, and beyond.

His entrepreneurial spirit and dedication to research and

innovation have set new benchmarks in education, healthcare,

and business across the region. Thumbay Moideen is

a true testament to the power of vision, determination, and

leadership in achieving success on a global scale.

About

Thumbay Group, established in 1997 by Dr. Thumbay Moideen,

is a diversified international business conglomerate based

in Dubai, UAE. The group operates across a wide range of

sectors, including education, healthcare, medical research,

diagnostics, retail pharmacy, wellness, nutrition, hospitality,

real estate, publishing, technology, media, events, medical

tourism, trading, and marketing. A key part of Thumbay

Group’s portfolio is the Gulf Medical University in Ajman,

which offers a variety of medical and healthcare programs.


VINCENZO

VENTRICELLI

Chief Executive Officer, Middle East and Türkiye

Philips Healthcare

MEDICAL TECHNOLOGY

Vincenzo Ventricelli, Chief Executive Officer of Philips

Middle East, Türkiye, and Africa, is a seasoned leader

with over 25 years of experience in the healthcare and

consumer industries. His journey with Philips began in Italy

in 1996, where he held various marketing and sales roles

before taking on leadership positions across Europe, the

Middle East, and Africa.

Ventricelli’s deep expertise spans both B2C and B2B markets,

having led strategic growth initiatives in Personal Health

(consumer) and Health Systems (health-tech). In 2020, he was

appointed CEO of Philips Middle East and Türkiye, with his

role expanding to include Africa in January 2021. Under his

leadership, Philips META has continued its mission to improve

2.5 billion lives per year by 2030, delivering innovative,

customer-centric solutions across the region.

A visionary business leader, Ventricelli has consistently

driven brand growth, market expansion, and operational

transformation. He led the brand strategy, driving significant

market share growth and achieving double-digit business

expansion, earning recognition as a Market Leader for

Philips Personal Health in the Middle East & Türkiye. By

building a high-performing team, he played a pivotal role in

accelerating Philips’ transformation into a solutions-driven

healthcare provider.

Ventricelli holds a bachelor’s degree in Business Administration

from Bocconi University, Milan. His commitment to

innovation, strategic leadership, and empowering teams has

solidified Philips’ position as a key player in the healthcare

industry across 15 countries in MENA.

Under his leadership, Philips has strengthened its partnerships,

including the 2022 agreement with Bader Sultan

and Brothers Co. as a distributor for Philips connected care

solutions in Kuwait. His continued focus on growth, digital

transformation, and healthcare solutions ensures Philips

remains at the forefront of health innovation in the META

region.

About

Philips Healthcare operates extensively in the UAE, offering

a wide range of medical equipment and services aimed

at improving patient outcomes and supporting healthcare

professionals. With its Middle East headquarters in Dubai,

Philips oversees operations across 15 countries, including the

UAE, Saudi Arabia, and other regional nations. The company

provides advanced healthcare solutions, including imaging

systems like MRI and CT scanners and more.


ZAID

AL SIKSEK

Chairman

Reem Hospital

MULTI-SPECIALTY HOSPITAL

Zaid Al Siksek is a distinguished leader in the healthcare

industry with a legacy of shaping the future of healthcare

in Abu Dhabi. As the former CEO of the Health

Authority of Abu Dhabi (HAAD) and current Chairman of

Reem Hospital, his expertise spans clinical research, healthcare

systems, health economics, public policy, and program

design. He has played a central role in advancing healthcare

policies and building healthcare infrastructures that focus on

patient outcomes, sustainability, and innovation.

During his tenure as CEO of HAAD, Zaid spearheaded a

groundbreaking transformation that modernized Abu Dhabi’s

healthcare sector. Under his leadership, the healthcare system

evolved into a decentralized model with an independent regulatory

function, universal health insurance, and increased

involvement from the private sector, laying the foundation for

a more accessible, efficient, and patient-centric healthcare

system. Zaid’s extensive experience as an executive board

member at health and human services companies further

underscores his ability to drive strategic planning, business

development, investment appraisal, and organizational change.

He has worked closely with physicians and senior staff across

various functional areas, including performance improvement,

quality and risk management, and sales & marketing strategies,

strengthening healthcare delivery across the region.

In 2020, Zaid’s vision materialized with the establishment

of Reem Hospital, Abu Dhabi’s first Post-Acute Rehabilitation

and Multi-Specialty Hospital. The state-of-the-art facility,

with a capacity of over 200 beds, is dedicated to providing

exceptional care throughout patients’ recovery journeys. By

integrating cutting-edge technologies, AI-driven systems,

and top-tier medical professionals, Reem Hospital ensures

that patients have access to world-class healthcare without

the need to seek medical support abroad. Located on Reem

Island in Abu Dhabi, Reem Hospital was inaugurated with a

clear vision: to deliver innovative, value-based healthcare

services that prioritize patient satisfaction and measurable

outcomes. Operated by VAMED Management & Service

Ltd, Reem Hospital offers highly specialized outpatient and

inpatient services, contributing significantly to the region’s

healthcare landscape.

Zaid’s leadership continues to shape the healthcare sector,

combining his vast experience in clinical practice, healthcare

economics, and transformative policy initiatives to create a

lasting impact on the healthcare industry in Abu Dhabi and

beyond, driving innovation and excellence in patient care,

while fostering collaborative partnerships.


ZAID S. AL

KHAYYAT

Managing Director

Al Khayyat Investments (AKI)

HEALTHCARE INVESTMENTS

From pharmaceutical trading to multinational conglomerate,

Al Khayyat Investments (AKI) has undergone a

remarkable transformation under the leadership of

Zaid S. Al Khayyat, who has skillfully expanded his father’s

vision into one of the region’s most diverse and successful

family businesses.

When Saad F. Al Khayyat founded Alphamed General

Trading in 1982, it was a modest four-person operation with

first-year revenues of less than $100,000. What began as a

small pharmaceutical trading venture has since evolved into a

business empire that spans eight countries across the Middle

East and Africa, including strategic markets like Saudi Arabia,

Egypt, Jordan, and Iraq.

As Managing Director, Zaid has orchestrated AKI’s most

ambitious period of growth, quadrupling revenue over the

past decade while maintaining the entrepreneurial spirit that

characterized the company’s early days. His leadership has

transformed AKI from a single-focus business into a diversified

conglomerate employing 10,000 people across an impressive

range of sectors.

Today, AKI operates through four major business lines,

retail, distribution, contracting, and automotive - managed

through eight core business units. The company’s portfolio

now encompasses pharmaceuticals, medical and laboratory

equipment, retail, food and non-food consumer goods, fitness,

automotive, environmental services, and contracting. This

strategic diversification has established AKI as a market

leader in multiple industries simultaneously.

A graduate of Boston’s Sawyer Business School, Zaid brings

both an international perspective and a local understanding

to his leadership role. He has carefully balanced innovation

with tradition, creating a corporate culture that emphasizes

excellence while maintaining the entrepreneurial flexibility

necessary for continued expansion. This approach has made

AKI a sought-after partner for both local enterprises and

global corporations looking to establish or strengthen their

presence in the Middle East.

While his father remains Chairman of the company, Zaid

has been instrumental in charting AKI’s contemporary course.

Under his guidance, the original pharmaceutical business

continues to thrive, now distributing leading pharmaceutical

and medical products throughout the region, while new

ventures have expanded the company’s footprint across

multiple industries. Zaid S. Al Khayyat’s strategy focuses

on deepening the company’s expertise in its chosen sectors

while upholding the core values.


Nothing Phone 3a:

A Bold Leap with an

iPhone-Style Camera

Button?

The Nothing Phone (1) might have started

as a statement for the young and edgy,

but the brand is proving it’s more than

just aesthetics. The upcoming Nothing

Phone (3a) is rumoured to introduce

an iPhone-like camera button, adding

a whole new dimension to its already

futuristic design.

Expected Specs: A Powerful Upgrade

The Nothing Phone (3a) is tipped to bring some solid hardware upgrades over its predecessor, the Phone 2a:

Display:

6.8-inch FHD+ AMOLED | 120Hz refresh

rate (up from 6.7-inch on Phone 2a)

Processor:

Qualcomm Snapdragon 7s Gen 3 (compared

to Dimensity 7200 Pro in Phone 2a)

Camera:

50MP primary sensor, 50MP 2x telephoto

lens, 8MP ultra-wide camera, 32MP front

camera (same as before)

Battery & Charging:

5,000mAh | 45W fast charging


Designed for Tech

Enthusiasts & Collectors

Nothing’s signature transparent design isn’t just eye

candy - it’s a statement piece. By exposing the intricate

internals, the Phone (3a) blends art with technology,

making it a must-have for tech lovers and collectors.

The Display

The 6.55-inch Full HD+ OLED screen offers a vibrant,

saturated experience that makes UI animations buttery

smooth at 120Hz.

Symmetrical bezels, iPhone-esque aesthetic

HDR10+ support, but Netflix doesn’t support

HDR (YouTube does!)

Limited brightness, struggles with glare

Oversaturated colours, looks great, but not the

most colour-accurate

The Pro version might feature a telephoto sensor while the

standard model doesn’t, leading to a possible price hike for

the Pro variant.

Global Launch & UAE

Availability

Global Launch Date: March 4, 2025

UAE Availability: Shortly after launch (already

spotted on TDRA certification under

model A059)

Audio & Haptics: A

Mixed Bag

Speakers: The bottom speaker overpowers the audio

output, and covering it mutes nearly 80% of the sound.

Additionally, there’s no support for Dolby Atmos.

Haptics: Typing, gaming, and navigation feel sharp

and responsive - but the motor isn’t strong enough

to guarantee you won’t miss calls on vibrate mode.

Pros

Head-turning transparent design

Decent camera setup

Near-stock UI with fast updates

All-day battery life

Cons

No charger in the box

Slowest charging in its segment

UI can be problematic

Average selfie camera

Final Thoughts

With its bold design, improved performance, and rumoured camera button, the Nothing Phone (3a) could be the

brand’s most exciting release yet. But will it be enough to compete with the heavyweights in its price range? Stay

tuned for the full reveal in March 2025.


Energy


ADNOC’s strategy shaping the future of energy innovation in the UAE.

ADNOC’s Strategy

for Driving Energy

Innovation in the

UAE

ADNOC’s Strategy Aims to Transform the

UAE’s Energy Sector through Innovation,

Sustainability, and Technology.

The Abu Dhabi National Oil Company

(ADNOC) plays a leading role in advancing

energy innovation within the United

Arab Emirates. To implement its strategic

objectives aimed at addressing global

energy requirements while facilitating a

transition towards sustainable practices,

ADNOC is making substantial investments

in advanced technologies and renewable

energy solutions. This strategy integrates

the company’s extensive experience in

traditional oil and gas operations with

state-of-the-art developments in renewable

energy, carbon capture, and hydrogen

production. ADNOC’s commitment to

sustainability and innovation aims to

strengthen the UAE’s position as a global

energy leader while supporting the UAE

Energy Strategy 2050.



(ADNOC) has long been a key

player in the UAE’s energy sector.

With its focus on sustainability and the

future of energy, ADNOC has redefined its

strategy, positioning itself as a leader in

driving innovation in the energy industry.

ADNOC’s strategic objectives focus on

leveraging technology and clean energy

solutions while ensuring continued economic

growth and energy security for

the UAE. This bold approach is critical

as global energy trends shift towards

greener alternatives, and ADNOC aims to

meet the rising demand for cleaner and

more efficient energy solutions.

ADNOC’s Focus on Innovation

In response to the growing global demand

for cleaner and more efficient energy,

We stand at the dawn of

a new era of hope and

possibility, defined by

three megatrends: first,

the rise of the global south

and emerging markets.

Second, the transformation

of energy systems, and

third, the exponential

growth of AI. These three

megatrends present mega

opportunities that demand

mega solutions.”

H.E. Sultan Ahmed Al Jaber,

UAE Minister of Industry and Advanced

Technology

ADNOC has strategically embraced

cutting-edge technologies to enhance

oil and gas production while minimising

its environmental impact. The company

has made substantial investments in

innovative energy technologies, from

advanced exploration techniques to

artificial intelligence (AI) applications.

ADNOC is integrating these digital solutions

across its operations, optimising

production processes to make them

more energy-efficient, cost-effective, and

sustainable. A key element of ADNOC’s

long-term strategy involves the adoption

of AI and machine learning tools, which

enable the prediction of maintenance

needs and the automation of routine

operations. This technological shift is

expected to reduce downtime, increase

production efficiency, and extend the life

of existing infrastructure. Additionally,

ADNOC has made significant progress

in implementing blockchain technology,

which has the potential to revolutionise

the energy supply chain by enhancing

transparency, traceability, and security.

With these advancements, ADNOC

is positioning itself at the forefront of

energy innovation, ensuring that its operations

align with global sustainability

goals while continuing to lead in the

oil and gas industry. The integration of

these technologies will not only enhance

operational efficiency but also support

ADNOC’s commitment to a more sustainable

and responsible energy future,

helping the company remain competitive

in an ever-evolving energy landscape.

ADNOC’s Commitment to Clean Energy


(ADNOC), traditionally known for its

association with the fossil fuel sector,

is increasingly investing in clean energy

solutions to align with global sustainability

goals. One of its key strategies

involves significant investments in carbon

capture, utilization, and storage (CCUS)

technologies. These technologies are

crucial for reducing carbon emissions

by capturing and securely storing them

underground, which plays a pivotal role

in the UAE’s broader aim of achieving

net-zero emissions by 2050. In addition to

CCUS, ADNOC is expanding its focus on

renewable energy sources, particularly

solar and hydrogen, which are integral

to the company’s long-term sustainability

vision. The company has set ambitious

targets, including a commitment to

reducing the carbon intensity per unit

of energy produced by 25% by 2030.

Through these efforts, ADNOC is not

only contributing to the UAE’s national

goals of reducing dependency on traditional

hydrocarbons but also helping to

diversify the country’s energy mix. By

embracing these advanced technologies

and renewable energy alternatives, ADNOC

is reinforcing its role as a leader in the

transition towards a cleaner and more

sustainable energy future, while ensuring

the continued growth and development

of the UAE’s energy sector.

ADNOC’s Investment in Technological

Collaboration

ADNOC’s strategy for driving innovation

is not limited to internal technological

development. The company has also

entered into partnerships with global

and regional players to accelerate its

efforts. One such collaboration is with

the International Renewable Energy

Agency (IRENA), a global organisation

that works to promote sustainable energy

practices. ADNOC’s partnership with

IRENA is focused on advancing renewable

energy solutions, including solar, wind,

and green hydrogen technologies. In

addition, ADNOC has joined forces with

several leading technology companies,

such as Microsoft and Google, to implement

advanced digital tools and harness

the potential of AI and big data. These

collaborations allow ADNOC to leverage

the best available technologies to drive

efficiency in operations and reduce its

environmental footprint.

ADNOC’s Role in Sustainable Development

ADNOC’s proactive strategy is instrumental

in shaping the future of the United Arab

Emirates’ energy sector. The organization’s

investments in green energy technologies,

alongside its strong commitment

to sustainability, significantly contribute

to the UAE’s objectives of diversifying

its economy and minimizing dependence

on fossil fuels. These initiatives are

essential for ensuring long-term energy

security in the region while simultaneously

addressing the urgent challenges

posed by climate change. By fostering

innovation, ADNOC seeks to retain its

leadership position in the global energy

landscape, all the while advancing towards

a greener and more sustainable future.

The company’s emphasis on renewable

energy, positions it as a key participant

in the UAE’s transition to a low-carbon

economy.


Energy News

TAQA Group Reports $15B Revenue and $1.93B Net Income for 2024

TAQA Group has achieved impressive

financial results for the year

2024, recording a revenue of $15

billion and a net income of $1.93 billion.

These figures highlight the company’s

strong operational performance and

its strategic initiatives to expand and

enhance its global energy operations.

The revenue growth can be attributed

to the solid cash flow generated from

TAQA’s diverse portfolio of global

energy assets, as well as its investments

in sustainable energy projects.

The company has also demonstrated

resilience in a volatile market, with its

earnings before interest, taxes, depreciation,

and amortization (EBITDA)

maintaining a robust performance.

The group continues to invest in a

variety of power and water projects

around the world, ensuring a steady

path towards growth.

ADNOC Gas and Indian Oil

Corp Sign $9B, 14-Year

LNG Supply Deal

ADNOC Gas has signed a 14-year

sales and purchase agreement

(SPA) with Indian Oil Corporation

Ltd (IndianOil) to supply up to

1.2 million tonnes per annum (mtpa)

of liquefied natural gas (LNG). Valued

between $7 billion and $9 billion,

the deal strengthens ADNOC Gas’

long-standing partnership with India’s

largest integrated energy company

and reinforces the UAE-India energy

collaboration. Deliveries will begin

in 2026 from ADNOC Gas’ Das Island

liquefaction facility, one of the world’s

longest-operating LNG plants, which

has shipped over 3,500 LNG cargoes

globally. This agreement builds on

ADNOC Gas’ strategy to expand its

customer base in key Asian markets

and supports India’s goal of increasing

natural gas to 15% of its primary energy

mix by 2030. Fatema Al Nuaimi, CEO

of ADNOC Gas, emphasized the importance

of the partnership, highlighting

ADNOC Gas’ commitment to supplying

reliable, lower-carbon LNG. This agreement

follows a series of long-term LNG

deals signed by ADNOC Gas in recent

years, further solidifying its position as

a leading supplier in the region.

NMDC Group Revenue Rises 57% in FY 2024 to $7.16B

NMDC Group reported a 57% increase

in revenue for FY 2024,

reaching $7.16B, driven by

strong project execution and international

expansion. The group’s net profit

also saw significant growth, reflecting

its leadership in the marine, dredging,

and construction sectors. NMDC has

been involved in key regional and

global infrastructure projects, boosting

its order book. The company’s performance

highlights its ability to capitalise

on rising demand for maritime and

energy-related services. With ongoing

investment in technology and sustainability,

NMDC remains positioned for

Dubai Electricity and Water

Authority (DEWA) recorded

revenues of $8.4B and net profits

of $2B in 2024, reflecting strong

demand for electricity and water services.

The utility provider saw stable

revenue growth, supported by Dubai’s

population increase and infrastructure

expansion. DEWA continues to invest

in renewable energy projects, aligning

future growth. The firm continues to

strengthen its market presence through

strategic acquisitions and partnerships.

DEWA Reports Revenue of $8.4B and $2B Profits

for 2024

with the UAE’s sustainability goals. The

Mohammed bin Rashid Al Maktoum

Solar Park remains a key contributor

to DEWA’s clean energy initiatives. The

company aims to enhance efficiency

and innovation in power and water

distribution. DEWA’s financial results

highlight its commitment to providing

reliable services while maintaining

profitability.


UAE to Deploy 500 EV Charging Stations by 2025, Says Ministry

The UAE plans to install over 500

electric vehicle (EV) charging

stations by the end of 2025 to

promote clean transportation and reduce

carbon emissions, according to

Sharif Al Olama, Under-Secretary for

Energy and Petroleum Affairs at MoEI.

Speaking at the World Governments

Summit in Dubai, he highlighted that

MoEI, which co-owns UAEV with Etihad

Water and Electricity, has already

TA’ZIZ Announces

$1.7B Award to Build

UAE Methanol Plant

TA’ZIZ has awarded a $1.7 billion

(AED 6.2 billion) EPC contract

to SAMSUNG E&A to develop

one of the world’s largest methanol

plants in Al Ruwais Industrial City,

Abu Dhabi. The facility, set to produce

1.8 million tonnes of methanol annually,

will be the UAE’s first methanol

manufacturing plant and is scheduled

for completion in 2028. Powered by

clean energy, the plant will be among

the most energy-efficient globally,

reinforcing the UAE’s leadership in

sustainable chemicals production.

This project aligns with TA’ZIZ’s goal

of expanding domestic chemical value

chains and supporting the UAE’s

economic diversification. TA’ZIZ plans

to produce 4.7 mtpa of chemicals by

2028, including methanol, low-carbon

ammonia, and PVC, marking a major

step in establishing the UAE as a

global hub for advanced chemical

production.

installed over 100 chargers in 2024 and

is rapidly expanding the network. The

initiative, developed in collaboration

with the private sector and local authorities,

aims to build a strong EV

infrastructure aligned with the UAE’s

sustainability goals. Additionally, MoEI

targets increasing renewable energy

capacity to over 14 gigawatts by 2030

as part of its clean energy strategy.

Fertiglobe Defers Q4 Shipments to Benefit from

Rising Nitrogen Prices

Fertiglobe has delayed some

Q4 shipments to capitalise on

increasing nitrogen prices in

global markets. The move aims to

maximise profitability amid rising

demand for fertilisers and industrial

chemicals. Fertiglobe remains a key

supplier of ammonia and urea, leveraging

its strategic production capacity.

The company expects nitrogen prices

to stabilise at higher levels, benefiting

its revenue outlook. Fertiglobe’s decision

reflects its agile market approach,

adapting to pricing trends. The firm

continues to optimise its production

and export strategies to maintain

strong financial performance. Market

analysts anticipate further gains in

nitrogen-based product pricing in the

coming months.

ADNOC Gas Crosses Record $5B Net Income for

FY 2024

ADNOC Gas posted a record $5B

net income for FY 2024, driven

by strong operational efficiency

and higher LNG sales. The company capitalised

on increased demand for natural

gas, both regionally and internationally.

ADNOC Gas continues to strengthen its

market position through long-term supply

agreements and infrastructure investments.

The company remains focused on

expanding its LNG production capacity

to meet future demand. ADNOC’s financial

performance highlights its ability to

navigate energy market fluctuations. With

sustainability at the core of its strategy,

ADNOC Gas aims to balance growth and

environmental responsibility. The firm’s

revenue outlook remains positive.


Interview

His Excellency Ambassador

Dr. Abdulsalam AlMadani,

Chairman of DIHAD Sustainable

Humanitarian Organisation and Chairman

of DISAB; Roving Ambassador of

the Parliamentary Assembly of the

Mediterranean (PAM) for the GCC Region

Driving Humanitarian

Change: Strategic Finance,

Innovation, and Global

Collaboration


The UAE is emerging as a global leader in sustainable finance, with financial

institutions playing a crucial role in driving humanitarian causes. Optimizing

funding and resource allocation is essential for maximizing aid impact, while

strategic financial planning aligns with the nation’s growing leadership in humanitarian

diplomacy. H.E. Amb. Dr. Abdulsalam AlMadani, Chairman of DIHAD, emphasized

the significance of financial institutions in humanitarian efforts and the importance

of leveraging emerging technologies like fintech and blockchain to enhance aid

distribution, transparency, and efficiency.


Q: The UAE is emerging as a global

hub for sustainable finance. How

do you see financial institutions

contributing to humanitarian causes?

In moments of crisis, the capability

of financial institutions to respond

becomes paramount. By establishing

dedicated funds to aid emergency

responses, they facilitate immediate

support for those affected by disasters

and this proactive approach exemplifies

the type of commitment needed to

build resilience within communities.

Financial institutions can play a

transformative role in advancing humanitarian

causes. In a country that foster

innovation and social responsibility,

we find ourselves with an opportunity

to leverage financial resources for the

greater good.

It is important for financial institutions

to strategically invest in initiatives

that address essential societal needs,

including accessible healthcare, and

quality education for underserved

communities. This approach reflects

a fundamental understanding that

the long-term success of businesses

is directly linked to the well-being of

the communities they serve.

DIHAD Sustainable Humanitarian

Organization, emphasize the importance

of sustainable solutions that align

humanitarian efforts with financial

viability. DIHAD Organization advocate

for the unity of humanitarian efforts

and sustainable finance to build a

future characterized by resilience and

hope. This is not just about financial

returns; it is about building a society

where everyone has a chance to thrive,

making a lasting impact in the lives of

those who need it most.

Lately we have witnessed financial

institutions starting to reevaluate

their corporate social responsibility

(CSR) strategies to focus on humanitarian

projects that foster community

engagement and support which is a

great gesture towards the community.

By actively participating in local and

international humanitarian initiatives,

they not only enhance their reputation

but also contribute meaningfully to the

foundation of society.

Collaboration with non-governmental

Organizations (NGOs) is another key

pathway for driving impact. When financial

institutions partner with NGOs,

we see a powerful synergy emerge.

This collaboration combines resources

and expertise to tackle pressing humanitarian

challenges, ensuring that

responses are not only swift but also

meaningful. By embracing this spirit of

partnership, we can effectively address

the root causes of various issues and

create lasting change.

Q: How can collaboration between

different humanitarian organisations

improve resource allocation

and aid delivery?

When organizations come together,

they can leverage their unique strengths

and share resources in ways that create

a much more effective response to the

pressing challenges we face.

One of the biggest benefits of collaboration

is the sharing of information

and best practices. When organizations

work together, they can combine their

experiences and insights, which helps

everyone make more informed decisions.

A prime example of this spirit

of collaboration occurs at the Dubai

International Humanitarian Aid and

Development - DIHAD Conference and

Exhibition that is being held annually

in Dubai. The 20th edition of the event

brought together more than 16,000

participants and over 900 entities and

partners from 154 countries. During DI-

HAD, participants engage in meaningful

discussions about their experiences and

strategies. It is an excellent platform

for fostering dialogue, sharing insights,

and building partnerships that can

enhance humanitarian efforts globally.

Another key aspect is minimizing

duplication of efforts. It is not uncommon

for multiple NGOs to operate in

the same area, often addressing similar

needs. By coordinating their activities,

they can streamline their efforts and

use resources more efficiently. This

not only saves time and resources but

also ensures that aid is delivered more

effectively without unnecessary overlap.

Joint assessments are also incredibly

important. When organizations collaborate

on needs assessments, they

can develop a more complete picture

of the situation. This comprehensive

understanding leads to smarter resource

allocation because they can prioritize

where funds and supplies are needed

most urgently. Additionally, having a

unified assessment helps build consensus

among donors about where to

direct their support.

We also need to remember that collaboration

sparks innovation. Different

organizations bring diverse skills

and solutions to the table. When they

work together, it opens the door for

creative problem-solving and builds

trust within the community, leading

to more sustainable outcomes.

Q: The UAE is positioning itself as

a leader in humanitarian diplomacy.

How do financial strategies align

with these efforts?

The UAE is always keen on directing

its resources toward vital initiatives

that not only alleviate human suffering

but also strengthen its presence on the

global stage. By integrating humanitarian

diplomacy into its approach, the UAE

fosters international cooperation and

dialogue to enhance the impact of its

humanitarian efforts. The alignment

of its financial strategies with these

initiatives is both strategic and transformative,

embodying the core mission

of the DIHAD Sustainable Humanitarian

Organization.

By investing in disaster relief, refugee

support, and sustainable development,

The UAE demonstrates its commitment

to global responsibility. DIHAD Organization

is a key partner in this effort,

facilitating collaborations with NGOs

and charities to ensure aid is provided

without regard to race, religion, or

nationality.

DIHAD Organization bridges humanitarian

efforts with sustainable

solutions, ensuring that financial


Interview

strategies lead to long-term resilience.

Moreover, by supporting initiatives

that promote education and capacity

building, the UAE and DIHAD are not

only addressing immediate needs but

also empowering communities for a

brighter future.

By actively engaging in humanitarian

efforts, the UAE has broadened its influence

and showcased its dedication

to creating a better world for all. For

example, the generous contributions

to international organizations like the

United Nations High Commissioner for

Refugees (UNHCR) and the World Food

Programme demonstrate its commitment

to urgent global needs. This not

only provides immediate relief but also

portrays the UAE as a compassionate

leader that stands in solidarity with

those facing adversity.

The UAE is not just providing aid;

it is redefining what it means to be a

global leader in humanitarianism and

pave the way for a future defined by

compassion and collaboration.

Q: How does DIHAD collaborate

with international stakeholders

to amplify its impact beyond the

region?

DIHAD Sustainable Humanitarian

Organization recognizes that addressing

humanitarian challenges effectively

requires a collaborative approach that

transcends regional boundaries. In

order to strengthen its impact beyond

the Middle East, DIHAD Organization

actively partners with a diverse array

of international stakeholders, including

renowned humanitarian organizations,

governmental authorities, UN agencies,

the Red Cross/Red Crescent Movement,

foundations, charities, academic

institutions, media entities, and the

private sector.

DIHAD’s collaborations with international

stakeholders are essential for

enhancing the effectiveness of humanitarian

responses in today’s complex

landscape. DIHAD collaborates with

leading humanitarian organizations to

align its initiatives with global frameworks,

allowing it to effectively tackle

urgent issues like refugee crises and

food insecurity.

Moreover, partnerships with national

governments and intergovernmental

organizations significantly bolster

DIHAD’s advocacy for policies that

advance humanitarian action. These

alliances provide invaluable insights

into governance and regulatory models,

enabling DIHAD to develop strategies

that resonate on a global scale. This

strategic approach improves response

mechanisms and fosters a culture of

shared responsibility among stakeholders.

Engaging academic institutions is

another pivotal aspect of DIHAD’s

strategy. A prime example of DIHAD’s

commitment to educational collaboration

is the establishment of DIHAD

Humanitarian College and launching the

world’s first Master’s Degree Program

in Sustainable Humanitarian Action,

designed to equip future leaders with

the skills and knowledge essential for

effective humanitarian work. Since

2022, we have provided scholarships to

95 students from over 72 nationalities,

collectively bringing more than 800 years

of diverse experience and perspectives.

This program underscores DIHAD’s

dedication to empower the next generation

of humanitarian professionals

with the necessary skills and leadership

mindset to lead humanitarian action and

response to those who are suffering and

in need. The curriculum emphasizes

critical thinking, sustainability, and

the intricacies of humanitarian action,

preparing graduates to navigate and

address contemporary challenges in

the sector.

Furthermore, DIHAD actively collaborates

with the media to raise awareness

and mobilizing public support for

pressing humanitarian needs. Through

joint campaigns and communication

initiatives, DIHAD amplifies its message,

drawing greater international attention

and encouraging more significant action

from global stakeholders.

I also see significant potential in

engaging the private sector to bolster

humanitarian efforts. By forming alliances

with businesses and corporate

entities, DIHAD tap into financial resources,

technological expertise, and

innovative solutions. Aligning corporate

social responsibility initiatives with

DIHAD’s mission enables impactful

projects that address community needs

and promote sustainable development.

Q: With fintech and blockchain

gaining traction, do you see potential

for these technologies

in aid distribution and financial

transparency?

From my perspective, it is clear that

these innovations are game changer. The

rise of fintech and blockchain technologies

has the potential to revolutionize

aid distribution and improve financial

transparency in the humanitarian

sector. They can also transform the

landscape of humanitarian assistance,

making it more efficient, transparent,

and impactful ensuring that aid reaches

those who need it most.

Take fintech, for instance. It is transforming

how organizations manage

and disburse funds. Mobile payment

platforms are particularly noteworthy;

they facilitate direct cash transfers to

beneficiaries, enabling them to access

resources quickly and flexibly. This

empowerment allows recipients to

prioritize their own needs and stimulates

local economies as they can

spend money within their communities.

Then there’s blockchain technology,

which offers unmatched levels of

transparency and accountability. By

creating immutable ledgers that track

the flow of funds, it ensures that every

donation and piece of aid can be traced

at all times. This level of transparency

is critical; it builds donor confidence,

allowing them to easily verify how

their contributions are utilized. They

can rest assured that funds reach the

intended beneficiaries, minimizing the

risks of diversion or fraud.

These technologies enhance operational

efficiency and promote greater

collaboration among humanitarian

organizations and stakeholders. By

providing shared platforms, they offer

a comprehensive view of funding

flows and spending patterns, leading

to a collective understanding of best

practices. This kind of collaboration


is vital; it can significantly improve

responses during crises and ensure

that aid is delivered effectively.

Q: This year’s theme is “Humanitarian

Aid and Development in a Polarised

World.” What key discussions can

we anticipate?

We have chosen this topic, “Humanitarian

Aid and Development in a Polarised

World,” for DIHAD 2025 because we

recognize the pressing need to address

the complex challenges facing humanitarian

efforts today. In an increasingly

divided global landscape, it is essential

that we engage in meaningful dialogue

to explore how polarization impacts

our ability to provide effective aid and

support to those in need.

At DIHAD Conference this year, we

anticipate robust discussions on the

evolution of humanitarian principles

and their crucial role amidst ongoing

conflicts and crises. Humanitarian

organizations must navigate the delicate

balance between maintaining

neutrality and responding effectively

to immediate needs. Key speakers from

leading humanitarian organizations

will share insights on adapting these

principles to ensure that aid reaches

the most vulnerable, regardless of the

political context.

Furthermore, the changing landscape

of financing for humanitarian initiatives

deserves significant attention.

Experts will explain how diversifying

funding streams, engaging non-traditional

donors, and leveraging private

sector investments can enhance aid

efficiency and transparency, ensuring

that financial resources are directed

where they are most needed.

The intersection of development and

humanitarian aid remains a central focus

this year. Building long-term resilience

demands integrated strategies that

empower communities beyond immediate

crises. Discussions will explore

how sustainability and development

goals can be effectively embedded

into humanitarian responses to drive

lasting impact.

Additionally, globalization and localization

continue to shape humanitarian

action. It is critical to empower local

actors in aid planning and implementation

to ensure culturally relevant

and effective responses. Featured

speakers and experts will also discuss

the role of emerging players and how

their contributions are reshaping the

humanitarian landscape.

The exponential impact of climate

change is another pressing issue, as it

continues to exacerbate humanitarian

crises by driving food insecurity, displacement,

and health emergencies.

Addressing this intersection is vital

for sustainable humanitarian action.

Population Displacements; Trends and

Challenges will also be a major discussion

point. With forced displacement

reaching record levels due to conflict,

climate change, and economic instability,

the Conference will discuss on

solutions, and innovative approaches

to addressing both immediate needs

and long-term integration strategies.

At DIHAD 2025, we are committed

to fostering a dialogue that addresses

these critical challenges. Through

collaboration, we can pave the way

for impactful solutions that enhance

humanitarian aid and development

globally, ultimately contributing to a

more resilient and compassionate world.

Q: What message would you like

to share with business leaders and

investors looking to contribute to

humanitarian efforts?

I invite all humanitarian activists,

business leaders, and investors to

embrace the profound potential of

collaboration in our efforts to make

a lasting impact on communities in

need. As we step into the “Year of

Community” in the UAE, I would like

to invite everyone to recognize this

pivotal moment as an opportunity to

unite our resources, expertise, and

passion for humanitarian work.

Together, we have the power to drive

meaningful change. By joining forces

with local NGOs, community groups,

and fellow businesses, we can create

partnerships that not only address

immediate humanitarian needs but

also foster long-term resilience and

development. Their involvement can

amplify our collective efforts, transforming

challenges into opportunities

for growth and empowerment.

Engaging with humanitarian initiatives

is not merely an act of goodwill;

it is an investment in the future of our

communities. When we collaborate,

we leverage our diverse strengths to

build innovative solutions tailored to

the unique challenges faced by those

we aim to serve. Whether it is in education,

healthcare, disaster relief, or

economic growth, our joint efforts and

contributions can catalyze significant

change.

As we honor the Year of Community in

the UAE, I encourage business leaders

and investors to take action, partner

with organizations that resonate with

your values, invest in projects that

empower the vulnerable, and advocate

for causes that promote social equity.

Together, we can inspire others to join

this noble mission and create a ripple

effect of positive change.

Now is the time to take decisive

action, and I encourage all stakeholders

in the private and public sectors

to unite in addressing the pressing

challenges of humanitarian aid and

development. Together, we can forge

innovative solutions that truly make a

difference in the lives of those in need.

Your commitment and collaboration are

essential for creating a resilient future

and fostering a spirit of compassion

and unity in our global community. Let

us seize this opportunity to lead with

purpose and drive meaningful change.



Finance World hosted the prestigious Accounting & Finance

Awards 2025 in Dubai, bringing together an esteemed

gathering of government officials, industry veterans, and

financial visionaries. This grand evening was not just an awards

ceremony but a convergence of knowledge, innovation, and

leadership in the financial domain. The event illuminated the

evolving landscape of financial management, taxation, digital

transformation, and governance with thought-provoking keynotes,

engaging panel discussions, and immersive networking

opportunities.

The event recognized pioneers and trailblazers whose contributions

have significantly shaped the financial sector. These awards

honour outstanding individuals and organizations that have

demonstrated innovation, excellence, and visionary leadership.



Innovative Accounting & Tax

Technology Award

Renowned for its cutting-edge financial solutions, Tally Solutions

has been instrumental in revolutionizing accounting and tax

technology, enabling businesses to streamline financial operations

efficiently.

Emerging Accounting & Tax

Firm of the Year

TaxReady by Virtuzone has rapidly emerged as a trusted partner

for businesses, providing innovative and seamless accounting and

tax services that cater to the dynamic regulatory environment.

Visionary Leader in Financial Services

Bal Krishen Rathore

Bal Krishen Rathore has steered Century Financial towards

excellence with his strategic leadership, driving innovation and

investment insights that redefine the industry.


Best Payment Innovation in Consumer

Markets

Mbank has transformed consumer banking with its forward-thinking

payment solutions, making transactions seamless, secure,

and customer-centric.

CFO of the Year - Maged Ibrahim,

Chief Financial Officer, Salik

A dynamic financial strategist, Maged Ibrahim has played a pivotal

role in strengthening Salik’s financial position and steering the

company through regulatory changes and fiscal growth.

Innovative SME Financing Award

RAK Bank continues to empower small and medium enterprises

with innovative financing solutions, providing them with accessible

and sustainable financial support.

Excellence in Digital Transformation

for Financial Services

Jaywan stands at the forefront of digital transformation, implementing

state-of-the-art solutions that enhance financial services

and improve customer experiences.

Web3 & Digital Finance Trailblazer of

the Year

A trailblazer in the Web3 space, Farah Zafar has championed

digital finance innovations, positioning Lyvely as a leader in the

decentralized finance ecosystem.






Best Digital Banking Experience

Emirates NBD’s Liv. continues to set the benchmark for digital

banking, offering customers a seamless and intuitive financial

management experience.

Best Payment Solutions Provider

A leader in digital payments, Network International has redefined

payment solutions with secure and efficient platforms catering

to diverse market needs.

Women in Finance Leader of the Year

Amnah Ajmal’s leadership in banking and finance is reshaping

Mastercard’s future in EEMEA through innovative practices and

inclusivity.

Best Accounting & Tax Consultancy

A&A Associate LLC has built a strong reputation for providing

expert financial consulting and tax advisory services, ensuring

compliance and efficiency for businesses.

Excellence in Corporate Governance

Advisory

UHY James Advisory LLC has been pivotal in guiding businesses

with robust corporate governance frameworks, fostering transparency

and accountability.


Innovative FinTech Solutions Provider

Wio Bank is redefining financial technology with its next-generation

banking solutions, driving convenience and accessibility

for modern financial consumers.

Inclusive Finance & Accounting Firm

of the Year

Deloitte upholds its dedication to inclusivity and innovation in

financial services, presenting solutions designed for businesses

spanning diverse sizes and industries.

Excellence in Financial Reporting

KPMG has set industry standards with its meticulous and transparent

financial reporting practices, ensuring accuracy and

regulatory compliance.

Excellence in International Financial

Integration

Emirates NBD has been at the helm of international financial

integration, facilitating seamless cross-border banking and investment

opportunities.

The Accounting & Finance Awards 2025 was presented by Wasaya

Investments, and powered by iFund Factoring. Their commitment

to financial innovation and excellence played a crucial role in

bringing this grand event to life. The evening was further enriched

by captivating performances, blending culture and celebration. As

the financial sector continues to evolve, events like these serve

as platforms to honour groundbreaking contributions, inspire innovation,

and shape the future of financial services. The Finance

World Accounting & Finance Awards 2025 celebrated achievements

and ignited conversations that will drive the industry forward for

years to come.



Banking


Bank’s digital network with firewalls, secure servers, and professional monitoring for cyberattacks.

How UAE Banks

are Strengthening

Cybersecurity

Measures

UAE Banks are Enhancing Security Measures

against Cyber Threats and Building Robust

Defences for a Safer Financial Environment.

UAE banks are taking significant steps

to enhance their cybersecurity postures

in response to rising cyber threats. By

adopting advanced technologies such as

AI-driven monitoring and blockchain for

secure transactions, they are building robust

defences against potential attacks.

Collaborations with global technology

firms and the UAE Cyber Security Council

have introduced strict national standards,

fostering a secure and resilient banking

environment. Banks are also investing in

employee training and public awareness

campaigns to address vulnerabilities and

promote safe online practices. These proactive

measures also strengthen trust in

the financial system, ensuring the UAE

remains a leader in digital security within

the banking sector.


The UAE’s banking sector faces

mounting cyber threats as digital

transformation accelerates. The

UAE Cyber Security Council reported

thwarting over 71 million cyberattacks

in 2023 alone, highlighting the region’s

vulnerability. Financial institutions are

prime targets for cybercriminals seeking

financial gains and sensitive data. The

costs associated with cyber incidents are

immense; according to IBM’s 2023 Cost

of a Data Breach report, the financial

industry has the second-highest average

cost per breach globally, at $5.9 million.

These figures underscore the pressing

need for robust cybersecurity measures.

With the continuous

development of technology

and artificial intelligence

systems, cyber-attacks

have become more

complex and diverse.”

Abdulla Matar Al Muhairi,

Head of the Banking Supervision

Department, Central Bank of the UAE

Adopting Advanced Technologies

UAE banks are increasingly leveraging

Artificial Intelligence (AI) and Machine

Learning (ML) to counteract evolving

threats. These technologies enhance

real-time threat detection and enable

predictive analytics, allowing institutions

to identify and neutralise potential

breaches before they occur. A report by

PwC states that 64% of UAE financial

institutions have already implemented

AI in their cybersecurity strategies, with

this number expected to rise. Blockchain

technology is also gaining traction within

the sector. Its decentralised, tamper-proof

nature ensures secure transactions and

reduces fraud risks. Emirates NBD, one

of the UAE’s leading banks, has pioneered

the use of blockchain for cheque clearing,

eliminating the possibility of duplicate

submissions and reducing fraud.

Regulatory Measures and Government

Support

The UAE government has been instrumental

in strengthening cybersecurity

frameworks. The National Cybersecurity

Strategy, introduced by the Telecommunications

and Digital Government

Regulatory Authority (TDRA), aims to

create a secure digital environment for

businesses and individuals. Banks are

required to adhere to stringent guidelines

to protect customer data and ensure

compliance. Furthermore, the UAE

Central Bank launched its Information

Assurance Standards in 2022 to help banks

assess and enhance their cybersecurity

maturity. These standards focus on threat

management, incident response, and risk

assessment, fostering a unified approach

to tackling cyber threats.

Financial Investments in Cybersecurity

Cybersecurity spending in the UAE

has grown significantly. According to

a Statista report, the UAE’s cybersecurity

market is projected to expand at a

compound annual growth rate (CAGR)

of 8.5%, reaching $772.3 million by 2029.

Banks are allocating substantial budgets

to upgrade their defences, including implementing

multi-factor authentication

(MFA) systems, encrypted communication

protocols, and advanced firewalls. First

Abu Dhabi Bank (FAB) invested heavily

in its Security Operations Centre (SOC),

enabling real-time threat monitoring

and rapid incident response. Similarly,

Mashreq Bank reported a 30% increase

in its cybersecurity budget in 2023, focusing

on infrastructure upgrades and

staff training.

Focus on Employee Training

Human error remains a significant vulnerability

in cybersecurity. Recognising

this, UAE banks are prioritising employee

training programmes. These initiatives

educate staff on identifying phishing

attempts, handling sensitive information,

and adhering to cybersecurity protocols.

According to Kaspersky’s 2023 study,

78% of UAE banking employees received

cybersecurity training, resulting in a

noticeable reduction in breach incidents.

Public Awareness and Customer

Engagement

Customer education is another critical

component of UAE banks’ cybersecurity

strategies. Financial institutions regularly

launch campaigns to raise awareness

about safe online banking practices. For

instance, Emirates NBD’s “#SecureYourAccount”

initiative educates customers

on identifying fraudulent messages and

using secure authentication methods.

Additionally, banks are enhancing their

user interfaces to improve security

without compromising convenience.

Biometric authentication, such as facial

recognition and fingerprint scanning, has

become increasingly common, providing a

seamless yet secure customer experience.

Collaboration and Knowledge Sharing

Collaboration is key to combating cyber

threats. UAE banks are working closely

with international cybersecurity firms

and government agencies to share intelligence

and best practices. The UAE

Cybersecurity Council’s partnership with

Microsoft has enabled the deployment

of cutting-edge technologies, enhancing

threat detection capabilities across the

financial sector. Moreover, regional and

global cybersecurity summits foster

knowledge exchange and collaboration.

The 2023 Gulf Information Security Expo

and Conference (GISEC) saw over

12,000 participants, including banking

representatives, discussing innovative

strategies to tackle cyber risks.

Statistics Highlighting Success

The collective efforts of UAE banks and

regulatory bodies have yielded positive

results. A recent survey by Deloitte revealed

that 87% of UAE financial institutions

now feel better equipped to handle cyber

threats compared to three years ago.

Additionally, the average time to detect

and contain breaches has decreased by

32%, showcasing the effectiveness of

these initiatives.

The UAE banking sector is at the

forefront of strengthening cybersecurity

postures to safeguard its financial

ecosystem. As digital transformation

continues, these efforts will play a crucial

role in maintaining the UAE’s position

as a leading financial hub.


Banking News

CBD Enhances UAE’s

AI Vision with

Microsoft Copilot

Commercial Bank of Dubai (CBD)

has partnered with Microsoft to

integrate Copilot, an AI-driven

tool, into its operations, marking a significant

step in advancing the UAE’s AI

vision. This collaboration will enhance

productivity, streamline processes, and

improve customer experiences. By

leveraging AI, CBD aims to optimise

banking services while ensuring regulatory

compliance and security. The

move aligns with the UAE’s broader

digital transformation strategy, reinforcing

the country’s position as a

global leader in AI innovation. Microsoft’s

technology will empower CBD

employees with data-driven insights,

fostering efficiency and innovation in

banking. This highlights the growing

role of AI in financial services.

Emirates NBD Plans Six-Year AT1 Bond Issuance

Dubai’s Emirates NBD has mandated

banks for a six-year

Additional Tier 1 (AT1) bond

issuance to strengthen its capital

reserves. The perpetual bonds, callable

after six years, will be managed

by Emirates NBD Capital, HSBC,

and Citigroup. This issuance aligns

with the bank’s strategy to enhance

financial stability and meet regulatory

capital requirements. AT1 bonds, a key

component of bank capital, attract

investors seeking higher yields. The

offering reflects confidence in the

UAE’s banking sector amid evolving

market conditions. Pricing details and

investor response will determine the

final terms of the issuance, highlighting

market sentiment towards regional

financial instruments.

Dar Global Secures Funding for Oman’s AIDA Project

Dar Global has successfully secured

funding for its AIDA project

in Oman, a luxury waterfront

development designed to attract

high-end investors. The financing will

support the construction of premium

residences, hospitality venues, and

leisure attractions. Strategically located

along Oman’s coastline, AIDA aims

to enhance the country’s real estate

and tourism sectors. The funding underscores

investor confidence in Dar

Global’s vision and Oman’s growing

appeal as a luxury destination. With

sustainability and innovation at its

core, the project aligns with Oman’s

economic diversification goals. Further

updates on project milestones and

investor participation are expected as

development progresses.

United Arab Bank Reports 30% Surge in FY2024 Pre-Tax Profit

United Arab Bank (UAB) has

announced a 30% year-on-year

increase in its pre-tax profit

for the financial year 2024, reflecting

strong financial performance and

strategic growth initiatives. The rise

in profitability is attributed to higher

net interest income, improved asset

quality, and cost efficiency measures.

UAB’s focus on digital transformation

and enhanced customer services has

contributed to its positive results. The

bank remains committed to strengthening

its market position while supporting

the UAE’s economic growth.

With a stable outlook, UAB aims to

sustain its momentum through innovative

banking solutions and strategic

partnerships. Further financial details

will be disclosed in its full earnings

report.


Dubai Islamic Bank Reports 15.9% Income Growth in 2024

Dubai Islamic Bank (DIB) has

reported an impressive 15.9%

increase in its total income for the

year 2024, reaching AED 6.36 billion. This

growth has been driven by a combination

of higher financing income, improved asset

quality, and a strong balance sheet that

positions the bank well for future growth.

The bank’s strategic focus on digital

transformation, alongside its commitment

to customer-centric solutions, has also

played a key role in its financial success.

DIB’s robust performance reflects the

strength of the Islamic banking sector,

with the bank continuing to enhance its

portfolio of Sharia-compliant products

and services. Aligned with the UAE’s

economic growth strategies, the bank

aims to expand its market share and

solidify its position as a leading player

in the Islamic banking space.

RAKBANK Reports

Record AED 2B Profit

in 2024

RAKBANK has achieved a recordbreaking

profit exceeding AED 2B

in 2024, reflecting strong financial

performance and strategic expansion. The

impressive growth is driven by increased

net interest income, cost efficiencies,

and a focus on digital banking solutions.

RAKBANK’s commitment to innovation

and customer-centric services has

strengthened its market position. The

bank continues to support SMEs and retail

banking while expanding its corporate

banking portfolio. With a positive outlook,

RAKBANK aims to sustain profitability

through diversified revenue streams and

strategic partnerships. Further details on

its financial performance will be revealed

in the full annual report.

Mashreq Bank Appoints New Head of DCM

Mashreq Bank has appointed

a new Head of Debt Capital

Markets (DCM) to strengthen

its investment banking division. The

move is part of the bank’s strategy

to expand its capital market services

and support regional and international

clients with debt financing solutions.

With extensive industry experience,

the new head will focus on structuring

innovative debt instruments and

enhancing Mashreq’s market position.

This appointment reflects the bank’s

commitment to growing its DCM

capabilities amid rising demand for

Dubai International Financial

Centre (DIFC) has introduced

the Dubai Financial Experts

Program, aimed at nurturing Emirati

professionals in the financial sector.

The initiative aligns with the UAE’s

vision to enhance local expertise and

leadership in banking and finance.

Participants will receive specialised

training, mentorship, and hands-on

corporate financing solutions in the

UAE. As market conditions evolve,

Mashreq aims to provide tailored financial

products that meet the needs

of businesses and investors.

DIFC Launches Dubai Financial Experts

Program to Develop Local Talent

experience to prepare them for key

roles in the industry. DIFC’s commitment

to talent development supports

the nation’s long-term economic diversification

strategy. By investing in local

professionals, the program ensures a

sustainable pipeline of skilled financial

leaders who can drive the sector’s

growth and innovation.


Taxation

UAE

Corporate Tax

Registration:

What You Need

to Do Before

March 31, 2025

The clock is ticking! The UAE Federal Tax Authority (FTA) has

set the deadline for corporate tax registration for all natural

persons conducting business in the UAE. If your total turnover

in 2024 exceeds AED 1 million, you must register for Corporate

Tax before March 31, 2025 - failure to comply will result in a

penalty of AED 10,000!

Who Needs to Register?

Sole proprietors & freelancers

conducting business in the UAE

Individual partners in

Unincorporated Partnerships

Any natural person exceeding the AED

1 million turnover threshold in 2024


Why Register Now?

• Avoid penalties and stay compliant

• Plan tax obligations efficiently

• Reduce last-minute stress

• Get expert assistance for a hassle-free process

Understanding

Corporate Tax Filing in

the UAE

Businesses must file their corporate tax returns within

nine months after the end of their financial year. Companies

earning below AED 375,000 enjoy a 0% tax rate,

while those above must pay 9% corporate tax.

Key Filing Deadlines:

March 31, 2025

For businesses with a financial year from July 1, 2023,

to June 30, 2024

September 30, 2025

For businesses with a financial year from January 1,

2024, to December 31, 2024

December 31, 2025

For businesses with a financial year from April 1, 2024,

to March 31, 2025

UAE Introduces Top-up

Tax for Multinational

Enterprises

The UAE Ministry of Finance has announced a Top-up

Tax under the Global Minimum Tax (GMT) framework,

which applies to multinational corporations earning

at least EUR 750 million (AED 3.2 billion) annually.

This move aligns with the OECD’s Pillar Two Model

Rules, ensuring large corporations pay at least 15% in

corporate tax, closing gaps that previously allowed tax

optimization strategies.

Key Takeaways

from the Top-up

Tax Regulation

Targets large Multi-National Enterprises (MNEs) meeting

the revenue threshold

Ensures a minimum Effective Tax Rate (ETR) of 15%

for qualifying businesses

Prevents tax base erosion and enhances UAE’s compliance

with global tax norms

Strengthens UAE’s position as a regulated and transparent

financial hub


Interview

Investing isn’t just

about where or

what , it’s about

managing the knowhow

- powered by

tech.”

Kalpesh Khakhria

Chairman of Klay Group

Klay’s High-

Touch Partnership

Approach with

UHNWIs


For years, boutique wealth management firms like Klay Group have thrived

discreetly, shaping financial legacies outside the spotlight. In this rare

interview, Kalpesh Khakhria unveils why exclusivity, agility, and bespoke

expertise are the future of wealth management.


Q. What differentiates Klay Group’s

investment approach in a rapidly

changing global market?

Klay’s investment team is built around

a multi asset manager framework, which

brings together specialist in Equities,

Fixed Income, FX & Rates, Options/

Derivatives, Alternative & Private Markets.

Our multi-asset team functions

as a ‘Team of Teams’ to leverage their

asset level experience and expertise

to deliver a globally diversified, risk

adjusted portfolio, that can be customized

to the specific needs of our

individual clients.

Our portfolios are constructed based

on setting long-term target allocations

to Market betas and adding security

level alpha to constitute the optimal

portfolio allocation. The idea is to drive

performance through asset allocation

and add alpha through careful security

selection based on in-depth fundamental

financial analysis. Thereby delivering

a globally diversified risk-adjusted

portfolio to our clients.

Risk management is central to our

approach. For example, prior to the

pandemic, our market hedge recommendations

helped some clients

mitigate losses effectively. After the

Pfizer vaccine announcement, we built a

reflation basket that proved successful

in capturing market recovery trends.

Similarly, our green mining basket focused

on stocks benefiting from the green

energy transition, which contributed

to enhanced returns. In response to the

Russia-Ukraine conflict, we developed

a defensive healthcare portfolio and

increased gold allocations to hedge

against geopolitical risks, which provided

effective downside protection.

We also selected a high-yield specialist

manager whose strategy added value

as markets stabilized.

These examples illustrate how our

team adapts to macro trends while

maintaining a commitment to quality

assets, risk management, and long-term

client goals.

Q. How has fintech impacted your firm’s

operations and client relationships?

Fintech is revolutionising wealth

management, and its impact on our firm’s

operations and client relationships is

significant. Enhanced data processing

through big data and alternative data

sources, allows more informed decisions.

With predictive models and rule-based

investing, we can mitigate cognitive

biases and enhance risk management

through behavioral analysis.

Fintech has increased our efficiency.

Additionally, it has democratised access

to financial advice for retail investors,

driving innovation in products and enabled

personalised services. However,

these advancements also present new

challenges, reinforcing our critical role

as advisors. Ultimately, we view fintech

as an enabler, helping us improve our

capabilities and better serve our clients.

Q. What was the motivation behind

forming Klay, and how are you

different from traditional wealth

management firms?

During the years 2008 to 2012 we

witnessed profound changes in the

financial landscape leading to far

reaching consequences for the wealth

management industry. Notable among

these changes has been a change in

client attitudes including increased

awareness of transaction led or product

pushing practices. As a natural corollary,

clients are increasingly aware of

the need for truly independent, client

centric and bespoke investment advice,

through trusted and professional

client advisors who consistently have

the necessary skill and experience,

leading to stability and continuity in

their wealth management relationships.

We saw this as an opportunity, and we

became pioneers in this space.

Q. How does the UAE’s investment

market compare to global markets

in terms of growth and innovation?

Klay’s presence in 7 major financial

hubs makes it a natural partner for

ultra-high-net-worth families and

single-family offices navigating both

onshore and offshore opportunities.

Our corporate advisory team supports

clients with structured credit and alternative

solutions, addressing their

broader commercial interests.

With an institutional-grade investment

team, advanced technology, and global

access, we help family offices achieve

improved outcomes.

For those looking beyond traditional

banking, Klay Asset Management provides

access to prime brokerage, wider

liquidity pools, and institutional-level

investment execution through it’s Private

Label fund offering.

Our approach is built on four key verticals—Wealth

Management, Corporate

Advisory, Multi-Family Office Services,

and Asset Management—providing a

comprehensive yet flexible framework

for family offices. Through integrated

statements and consolidated reporting,

we ensure transparency and efficiency,

giving families greater control over

their financial landscape.

Q. How is the hybrid wealth management

model evolving, and how

are digital solutions supporting

both clients and RMs/advisers?

We use evolving tech to do better

analytics. Large banks used to excel

because they had a shock load of analysts

that would organize information

- they have large man power.

Today, AI helps take away the mammoth

task where man power was needed -

however you need more skilled experts

to handle the processed information.

We excel because we adopt and bring

in newer tech faster than larger financial

institutions/banks, and we already

have experts to make use of that info.

The best talent isn’t just sitting in big

banks anymore - it’s in boutique wealth

management firms like ours, where

expertise meets agility.

Q. With the growing number of

HNWIs in the UAE, what factors

contribute to the success of family

offices in the region?

We have been singularly focused on

building our business. Today we have

450+ families and individuals and we

are present in 7 countries (UAE, Singapore,

UK, India, Australia, Mauritius,

Cayman Islands) with 150+ employees


Interview

and the right licenses with relevant

regulators in each market. Our business

has grown purely by word of mouth

and through the trust we have built

through our actions and performance.

Our philosophy has always been for

our work to speak for itself. Today

we are in a growth phase like never

before and plan to enter new markets

to cater to the needs of our clientele.

This requires us to be more accessible

and much more in the public eye.

Q. How do you manage risk and

ensure compliance?

Compliance is a top priority in our

organisation, receiving attention at the

highest levels of management. Unlike

many companies where founders

transition into business-driven roles,

one of our founders leads compliance,

highlighting its critical role. We take a

substantive approach, far beyond merely

checking boxes, ensuring compliance

drives the business. As the saying goes,

“bad news takes the elevator, good news

takes the stairs”- we understand the

importance of swift action and direct

access to decision-makers. Our most

talented resources are dedicated to

managing compliance risks, reflecting

our commitment to more than just the

bare minimum. In our organisation,

compliance doesn’t report to the business

- it works alongside it, embedded

at every level to ensure we run a

compliant and successful enterprise.

Q. How do you envision the concept

of Wealth 3.0, and what impact do

you think it will have on future

investments? Wealth 3.0: A Buzzword

or a Real Shift in Investor

Behavior?

Call it what you will, but the direction

is clear - technology will play an

ever-growing role in delivering better

financial advice, simply because it enables

faster, more precise information

processing. Wealth management has

always been about personalization,

but in the early days - Wealth 1.0 - that

meant heavy human intervention. Now,

with technology as an enabler rather

than a replacement, personalization is

no longer a luxury - it’s becoming more

beneficial for the end client. The key

isn’t just using tech; it’s using it in a

way that truly benefits the end client.

Q. How are regulatory technologies

(RegTech) evolving alongside

WealthTech to help firms navigate

the complex regulatory landscape

across MENA?

Onboarding a client at a private bank

can take 2 to 3 months, as the process

remains largely manual - covering

KYC, client jurisdiction checks, and

compliance procedures. Boutique

wealth management firms often rely

on banks for this onboarding, leading

to inefficiencies and delays.

At Klay, we have the capability

to onboard clients at a significantly

faster rate. However, we still face

the challenge of manually converting

all onboarding data to align with our

partner banks’ requirements. The

widespread adoption of RegTech by

regulators worldwide would streamline

this process, benefiting both financial

institutions and end clients.

As RegTech continues to evolve

alongside WealthTech, automation,

AI-driven compliance, and digital

identity verification could revolutionize

the industry, ensuring faster,

more secure, and regulation-compliant

onboarding - without the bottlenecks

of legacy systems.

Q. How can boutique firms like

Klay compete with global financial

giants in the UAE?

We collaborate and we value add- we

do not compete.

Over the last decade or so we have

managed to carve a distinct niche

for ourselves. In the complex world

of finance, we have been trying to

simplify things. We have done this in

a few distinct ways:

1. We have been very selective with

the number of people we work with

so instead of increasing the number

of clients we have concentrated

on building scale with the clients

we have.

2. We have ensured through investing

in technology and a flat management

structure agility that ensure fast

decision making in an ever-changing

and fluid world.

3. We have limited the number of clients

each advisor handles to ensure

personalised attention so that the

unique needs of our clients are met.

4. We are constantly striving to move

away from the traditional model

of transaction-based fee to a fixed

fee that removes any incentive for

product pushing and instead rewards

performance.


Corporate Results

Burjeel Holdings

9M’24 Net Profit: AED 274M

Burjeel Holdings posted a profit of AED

274M for the first nine months of 2024,

reflecting a solid 14.7% increase from the

previous year. This growth was largely

driven by a significant rise in patient

volumes and higher yields across its

healthcare facilities. The company’s

strategic expansion into specialised

services, particularly in oncology,

played a pivotal role in enhancing both

revenue and profitability. Additionally,

improved operational efficiencies and

a focus on delivering high-quality care

contributed to the positive financial

performance. Burjeel’s continued

investment in healthcare innovation

has positioned it strongly within a

competitive market.

Salik

9M’24 Net Profit: AED 822.0M

Salik Company PJSC, Dubai’s exclusive

toll gate operator, delivered robust financial

results for the three and nine months

ending September 30, 2024. The company

reported a 5.1% year-on-year increase in

revenue-generating trips, totaling 355.6

million, reflecting the growing demand

for efficient transportation solutions in

the region. This growth drove total revenue

to AED 1,640.9M, with toll revenue

accounting for 86.7% of the total, rising

5.1% to AED 1,422.2M. EBITDA for the

nine-month period increased by 8.9% to

AED 1,115.0M, while profit before tax

rose 12.5% to AED 903.3M. Net profit after

tax reached AED 822.0M, with a strong

Q3 performance, as profit after tax rose

by 8.8% to AED 277.3M.

ADNOC Drilling

2024 Net Profit: AED 4.77B

ADNOC Drilling Company PJSC has

announced record financial results for

the fourth quarter and full year ending

31st December 2024. Full-year revenue

reached AED 14.70B (US 4.03B), a 32%

increase year-on-year. EBITDA for the

year stood at AED 7.41B (US 2.01B),

reflecting a 36% year-on-year growth

and a 50% margin. The net profit for

the year totalled AED 4.77B (US 1.30B),

representing a 26% increase year-onyear

with a 32% margin. Commenting

on these results, CEO Abdulrahman

Abdulla Al Seiari highlighted ADNOC

Drilling’s position as the world’s fastest-growing

energy services company,

with net profit more than doubling

since its listing on ADX.

Aldar Development


Aldar Development reported exceptional

financial performance in 2024,

with full-year revenue increasing by

90% to AED 15.7B compared to AED

8.71B in 2023. EBITDA grew by 75%,

reaching AED 4.3B from AED 2.47B

the previous year. The Aldar Group,

comprising Aldar Development and

Aldar Investments, saw total revenue

rise by 62% YoY to AED 23B. Gross

profit surged by 44% to AED 8B, and

EBITDA grew by 51%, totalling AED

7.7B. Q4 2024 was strong, with revenue

reaching AED 6.5B, a 48% YoY increase.

Gross profit grew by 50%, and EBITDA

rose 43%, reflecting continued robust

growth.

Mashreq

2024 Net Profit: AED 9B

Mashreq, a prominent financial institution

in the MENA region, reported

robust financial performance for 2024.

The bank achieved a 12% increase in Net

Profit Before Tax, reaching AED 9.9B,

highlighting its operational efficiency

and revenue momentum. Despite an

AED 869M tax payment, Net Profit

After Tax grew to AED 9B, marking a

78% quarter-on-quarter increase and

4% year-on-year growth. Revenues

reached AED 13.4B, reflecting a 24%

year-on-year rise and a consistent

three-year compound annual growth

rate (CAGR) of 32%. This impressive

growth underscores Mashreq’s ability to

leverage market opportunities, diversify

income streams, and deliver significant

shareholder value, reinforcing its solid

financial foundation and cost-effective

management practices.

Emaar


EMAAR achieved its strongest performance

ever, in 2024 propelled by operational

efficiency, a customer-centric

approach, and innovation. The company

reached a record AED 70B (US 19B)

in property sales, a 72% increase from

2023’s AED 40.3B (US 11B). This growth

led to a significant revenue backlog of

AED 110B (US 30B), marking a 55%

rise compared to the previous year.

Emaar’s revenue for 2024 surged by

33%, amounting to AED 35.5B (US 9.6B).

Net profit (before tax) also saw a 25%

increase, reaching AED 18.9B (US 5.1B).

In December, the company introduced

a new dividend policy and proposed

a 100% dividend payout, amounting to

AED 8.8B (US 2.4B), a 100% increase

from 2023. Emaar further expanded

its business by acquiring 141 million

square feet of prime land in Dubai.


Emirates NBD

9M’24 Net Profit: AED 19.0B

Emirates NBD achieved a record profit

of AED 19.0B for the first nine months

of 2024, benefiting from regional growth

and consumer confidence. The Group

disbursed over AED 100B in new loans,

driving a 7% income growth in Q3 2024.

Strong loan growth, improving margins,

and higher fee income contributed to

the rise. The Digital Wealth platform

propelled Group Assets Under Management

to surpass USD 40B, introducing

new products like fractional bonds and

sukuks. Emirates Islamic reported a record

AED 2.5B profit, with a 24% increase

in customer financing. Key highlights include

a 9% loan growth, a 3.75% net interest

margin, and improved asset quality, with

impaired loan ratios dropping to 3.9%.

Earnings per share grew by 9% to 295 fils.

Tabreed

9M’24 Net Profit: AED 462M

Tabreed, the UAE’s leading district cooling

company, reported solid financial

results for the first nine months of 2024.

The company saw a 6% YoY increase

in consumption volumes, leading to

a 4% rise in normalised net profit before

tax, reaching AED 462M. Group

revenue grew to AED 1.85B, driven by

higher consumption and the addition

of 29,000 Refrigeration Tons (RT) in

new connections. Tabreed’s EBITDA

rose to AED 933M, reflecting a stable

EBITDA margin of 50%, highlighting the

business’s predictable nature. International

expansion continued with new

connections in India and Egypt. The

company maintained robust financial

health, generating AED 912M in free

cash flows and reducing debt by 12%,

further reinforcing its strong balance

sheet and commitment to sustaining

an ‘investment grade’ credit rating.

E7 Group

9M’24 Net Profit: AED 180.8M

E7 Group PJSC (ADX: E7), a leader

in commercial and security printing,

sustainable packaging, and distribution,

reported strong financial results for the

three-month (Q3) and nine-month (9M)

periods ending 30 September 2024. The

Group achieved a net profit before tax

of AED 180.8M, marking an 82% yearon-year

increase. Revenue rose by 6% to

AED 491.7M, while EBITDA grew by 5%

to AED 129.9M. Cash and bank balances

reached AED 1.44B, supporting future

expansion plans. Notably, E7 secured

AED 115.5M in contracts for passport

and ID card production, alongside

a digital transformation partnership

with SAP for an ERP solution. These

achievements reflect the Group’s strong

growth and client acquisition across

various sectors.

ADNOC Distribution


ADNOC Distribution posted net profits

of AED 1.87B for the first nine months

(9M) of 2024, a decrease from AED

1.95B in the same period last year,

according to its financial statements.

The company reported revenues of

AED 26.61B in 9M-24, compared to AED

25.06B in 9M-23. Earnings per share

(EPS) declined slightly to AED 0.14 as

of 30 September 2024, from AED 0.15

a year earlier. Despite the lower net

profits, ADNOC Distribution achieved

its highest-ever nine-month Earnings

Before Interest, Taxes, Depreciation,

and Amortisation (EBITDA) of AED

2.90B (USD 790M), with underlying

EBITDA reaching AED 2.65B (USD

721M), reflecting growth of 5.9% and

11.6% year-on-year, respectively. In

the third quarter (Q3) of 2024, ADNOC

Distribution’s net profits were AED

718.48M, down from AED 850.18M

in Q3-23.

UAE telco du


Emirates Integrated Telecommunications

Company (du) achieved its

strongest quarterly results in three

years, with a 49.7% increase in net

profit to AED 1.9B ($520M) for the first

nine months of 2024, compared to AED

1.27B ($350M) in 9M 2023. In Q3 2024,

revenue grew by 9.1% to AED 3.59B

($980M), and EBITDA rose 16.9%. The

company’s Q3 EBITDA margin reached

a record 48.3%, up from 45.1% in Q3

2023. du’s Q3 net profit stood at AED

719M ($195.8M). Consumer offerings

helped boost mobile subscribers to

8.3 million, with 71,000 net additions

this quarter.

Abu Dhabi Commercial Bank

(ADCB)


Abu Dhabi Commercial Bank (ADCB)

reported a net profit after tax of AED

6.846B for the first nine months of

2024 (9M’24), reflecting a 19% increase

compared to the previous year. The

bank’s profit for the third quarter

(Q3’24) reached AED 2.390B, marking

a 23% year-on-year rise. ADCB’s strong

performance is attributed to its strategic

focus on increasing market share,

expanding corporate and investment

banking relationships, and growing

its retail customer base. This growth

is underpinned by robust loan expansion,

improved fee and commission

income, and enhanced credit quality.

The bank’s success also sets the stage

for further expansion, supported by a

continued focus on digital and AI-driven

transformation.


Interview

ECI Launched Xport

Xponential to Boost National

Exports

Raja Al Mazrouei

CEO of Etihad Credit Insurance


As the UAE’s Federal Export Credit Company, Etihad Credit Insurance (ECI) plays a pivotal role in strengthening the country’s

export sector and driving its global expansion. Committed to supporting businesses in navigating international trade, ECI

has launched the Xport Xponential program—an initiative designed to provide exporters with the strategic tools, market

intelligence, and financial safeguards needed to thrive in global markets. With a focus on empowering manufacturers, exporters,

and re-exporters, Xport Xponential serves as a gateway to exclusive trade benefits, including access to the Comprehensive

Economic Partnership Agreement (CEPA) and a vast network of global partners. This initiative not only simplifies market

entry but also fosters sustainable growth and resilience in international trade.

In this exclusive conversation, Raja Al Mazrouei, CEO of Etihad Credit Insurance,

sheds light on ECI’s vision, the impact of Xport Xponential, and how the

company is shaping the UAE’s trade landscape by providing businesses with

the confidence and support to expand beyond borders.

Q: Can you tell us about this new

export initiative from the UAE?

We launched this program back in 2024

at the Emirates Forum, aimed at accelerating

exports from the UAE to the world.

The response has been remarkable - we

received more than 50 applications from

UAE companies, from which we carefully

selected 15 companies to be part of the

program today.

Q: What are the key components of

this program?

The program has several crucial elements.

First, we focus on educating companies

about both the risks and opportunities

in global trade. We also connect them

with financing institutions to support

their export demands. Importantly, these

companies will be working with an ecosystem

of partners from both local and

federal government to navigate export

opportunities.

Q: There’s mention of a roadshow.

Could you elaborate on that?

Yes, we plan to take these companies

on a roadshow to four countries based

on their interests and export potential.

The target markets are India, Indonesia,

Saudi Arabia, and Oman.

Q: That’s an interesting mix of markets.

What were the criteria for selecting

the participating companies?

The selection process was based on solid

criteria. Companies needed to demonstrate

financial stability by providing their

financials for the past couple of years.

We also looked at their readiness and

interest in entering these global markets.

Perhaps most importantly, we evaluated

their passion and commitment to grow.

Q: How does the support system

work for these selected companies?

We’ve created a comprehensive support

network. If companies need financing,

we connect them with banks. If they

need insurance, we provide that. For

information about trade barriers or

opportunities in specific markets, we

work closely with our partners from

the Ministry of Foreign Trade, Ministry

of Economy, and Ministry of Foreign

Affairs to assist them.

Q: How does Etihad Credit Insurance

(ECI) fit into this picture?

As the nation’s Federal Export Credit

Company, ECI plays a crucial role through

our Xport Xponential program. We’re not

just opening doors - we’re providing a

complete ecosystem for trade-related

benefits. Our goal is to make it easier for

UAE businesses to enter global markets

with confidence. We identify and nurture

promising manufacturers, exporters,

and re-exporters, equipping them with

essential tools, knowledge, and support.

Q: What makes this program unique

in terms of export support?

What sets us apart is our comprehensive

approach. We understand that success in

global markets requires more than just

ambition. Through the program, UAE

exporters gain access to the Comprehensive

Economic Partnership Agreement

(CEPA) benefits and beyond. We provide

strategic guidance, market intelligence,

and access to a global network of partners.

Our support is designed to foster

not just growth, but sustainability and

resilience in exports.


Real Estate


Advancing real estate operations with smart technology for transparency, and efficiency.

The Role of

PropTech in

Transforming the

Real Estate Sector

Revolutionising Property Management with

Cutting-Edge Technologies for Efficiency

and Improved User Experiences.

The integration of PropTech - property

technology has revolutionised the real

estate industry, bringing significant improvements

to transaction processes and

property management. By utilising digital

tools and platforms, PropTech modernises

business operations, addressing key

challenges such as inefficiency, lack of

transparency, and outdated systems. As

customer expectations evolve, PropTech

solutions provide more streamlined, efficient,

and sustainable options. In regions

like the UAE, which prioritise innovation,

PropTech is not only simplifying operations

but also contributing to a more

sustainable and efficient real estate sector.

This article delves into the role of

PropTech in transforming the industry,

its growing adoption in the UAE.


Traditionally, real estate transactions

were time-consuming, paper-intensive,

and complex. PropTech

has introduced platforms that facilitate

faster, smoother, and more transparent

transactions. Digital tools enable property

buyers and sellers to interact seamlessly,

while cutting-edge technologies like

blockchain enhance transaction security.

Blockchain, for example, eliminates the

risk of fraud and tampering by providing

a decentralised and immutable ledger

for property deals. Virtual reality (VR)

and augmented reality (AR) tools are

also transforming the property viewing

process by offering potential buyers

immersive experiences without requiring

a physical visit.

Notable Advancements Include:

Virtual Property Tours: Platforms

like Matterport allow buyers to explore

properties in 3D from anywhere.

Digital Contracts: Applications such

as DocuSign enable secure and efficient

documentation processes, reducing the

time needed to finalise deals.

Blockchain Applications: Blockchain

enhances trust in transactions by

ensuring data integrity and providing a

transparent trail of ownership.

Driving Efficiency in Property

Management

Managing properties is often a labour-intensive

process involving manual coordination,

tracking, and maintenance.

PropTech has automated many of these

tasks, enabling property managers to

focus on strategic operations. Integrating

IoT (Internet of Things) devices

into buildings has enhanced operational

efficiency significantly.

IoT-enabled systems, such as smart

thermostats and energy monitoring tools,

help property owners optimise energy

consumption and reduce costs. Similarly,

advanced property management software

provides landlords and tenants with tools

to streamline communication, payment

tracking, and maintenance requests.

Examples of Efficiency-Boosting

Solutions include:

IoT Systems: Smart building solutions,

such as Nest and Honeywell, offer real-time

energy monitoring and automation.

Property Management Platforms:

Apps like MyTower and Buildium simplify

tenant management, billing, and

maintenance tracking.

Predictive maintenance: AI-powered

tools forecast potential system failures,

preventing costly repairs and downtime.

Boosting Market Transparency

The real estate market has often been

criticised for its lack of transparency,

particularly regarding pricing and market

trends. PropTech addresses this issue by

providing platforms that offer accurate,

real-time data and analytics. This transparency

empowers buyers, sellers, and

investors to make well-informed decisions.

Machine learning algorithms play a

key role in analysing vast datasets to

predict property values and market

trends. Real estate marketplaces like

Bayut and Property Finder are leading

the way in offering users comparative

analyses, detailed property histories,

and interactive market insights.

UAE leads from the

forefront having invested

over US$57 billion in

energy transition projects

locally and globally.”

H.E. Mariam bint Mohammed Almheiri,

Minister of Climate Change and Environment

of the UAE

Key Tools Enhancing Transparency

include:

AI-driven analytics: Advanced algorithms

predict market trends, rental yields, and

price movements with high accuracy.

Comprehensive property platforms:

Websites and apps aggregate listings and

offer detailed insights into neighbourhood

trends and amenities.

The UAE’s PropTech Landscape

The UAE has emerged as a global leader

in adopting PropTech, driven by its vision

for smart cities and sustainable urban

development. Government-backed initiatives

like the Dubai Land Department’s

blockchain-based property registration

system demonstrate how technology can

streamline administrative processes.

PropTech solutions in the UAE not only

focus on efficiency but also on improving

customer experiences. Virtual real estate

platforms and mobile applications make

property transactions faster and more

accessible. Moreover, sustainability-focused

PropTech innovations align with

the UAE’s broader goals of reducing

carbon emissions and fostering green

development.

Innovative UAE Initiatives include:

Dubai REST: A mobile app that enables

property owners to manage assets,

access digital contracts, and complete

transactions.

Blockchain Integration: Dubai Land

Department utilises blockchain to secure

property records and ensure accuracy in

ownership transfers.

Smart Building Systems: Developments

like Masdar City incorporate IoT

and AI for energy-efficient urban living.

PropTech is fundamentally transforming

the real estate sector, offering innovative

solutions that drive transparency, efficiency,

and enhanced customer satisfaction. By

integrating advanced technologies such

as artificial intelligence (AI), blockchain,

and the Internet of Things (IoT), PropTech

is reshaping how properties are bought,

sold, and managed. These technologies

tackle long-standing issues in the industry,

such as inefficiency, lack of data transparency,

and cumbersome processes.

Blockchain, for instance, provides secure

and transparent transaction records,

while AI helps forecast market trends,

enabling smarter investment decisions.

These innovations will reshape the real

estate landscape, creating a tech-savvy,

data-driven future that meets the demands

of modern consumers and investors alike.


Real Estate News

Dubai South Properties Sells 100 Units at Beachfront Gates in One Day

Dubai South Properties has achieved

an extraordinary feat by selling

100 units of its highly anticipated

Beachfront Gates project within just a

single day, marking a significant milestone

in the region’s real estate market. This

unprecedented demand highlights the

immense appeal of the project, which

can be attributed to its prime location in

Dubai South, a rapidly developing area

that promises both convenience and

luxury. The Beachfront Gates project

offers an impressive selection of 1, 2,

and 3-bedroom apartments, each designed

with a contemporary aesthetic

and functional living spaces that cater

to modern lifestyles. The thoughtfully

designed homes aim to provide residents

with a seamless blend of comfort and

elegance, offering access to an array

of amenities, including beautifully

landscaped parks, retail outlets, and

family-friendly recreational spaces.

Ras Al Khaimah Real Estate

Booms with 118% Surge

in Transactions

The real estate sector in Ras Al

Khaimah has experienced a remarkable

118% surge in transactions,

demonstrating the increasing appeal

of the emirate as a prime destination

for property investors and homebuyers.

This surge can be attributed to a

combination of government incentives,

ongoing infrastructure improvements,

and the rising demand for waterfront

and luxury properties. With its stunning

natural landscapes, improved connectivity,

and growing tourism sector, Ras

Al Khaimah has positioned itself as

an attractive choice for those seeking

quality real estate options. Developers

are responding to this growing demand

by launching a range of new projects

designed to cater to various buyer

preferences, from luxury villas to

modern apartments. Additionally, the

government’s focus on sustainable urban

planning and its efforts to promote

tourism-driven growth are expected to

further boost property investments in

the coming years.

Union Properties Continues its Turnaround with

Strong FY 2024 Results

Union Properties has posted

strong financial results for the

fiscal year 2024, signaling a

continued recovery and growth after

overcoming previous challenges. The

company’s successful turnaround

strategy, which has focused on strategic

asset management and new property

developments, has led to improved

revenue generation and profitability.

This positive shift in financial performance

is a direct result of their renewed

approach to optimizing existing assets

while embarking on fresh developments

that meet the growing demand for

real estate in Dubai. Union Properties

has maintained a clear focus on

strengthening its position in the highly

competitive UAE real estate market,

ensuring it can deliver sustained value

to its shareholders. The company’s

emphasis on innovation and expansion

of its project portfolio continues to

drive its market presence.

Dubai Launches Digital Real Estate Analytics

Platform for Investors

In a bid to further solidify its position

as a global real estate powerhouse,

Dubai has launched a cutting-edge

digital analytics platform designed to

provide investors with detailed insights

into the real estate market. This platform

offers users valuable data on a range

of factors, including rent trends, apartment

sizes, and lucrative investment

opportunities. By providing real-time

data, the platform allows investors to

track price fluctuations, assess property

values, and make well-informed

decisions regarding their real estate

investments. The new initiative enhances

market transparency, allowing

both local and international investors

to gain a clearer understanding of the

market dynamics. As a result, this

digital innovation is expected to attract

a wave of new investors looking

for reliable and accurate information

to guide their property investments.

Dubai’s commitment to leveraging

technology in the real estate sector

further underscores the emirate’s

role as a major investment hub in the

region, offering a more efficient and

transparent environment for real estate

transactions.


Eagle Hills Acquires Land in Hungary for USD 12.4B Budapest Project

Eagle Hills, a UAE-based real estate

developer, has made a bold

move into the European market

by acquiring prime land in Budapest,

Hungary, for an ambitious USD 12.4

billion development project. This largescale

project is set to redefine the city’s

skyline, featuring luxury residences,

commercial spaces, and hospitality

offerings that will attract international

attention. The project aligns with Eagle

Hills’ strategic vision of expanding its

portfolio in high-growth markets and

establishing a global presence. The

development in Budapest is expected

to create thousands of new jobs,

boost tourism, and enhance the overall

economic landscape in Hungary. The

ambitious project not only reinforces

the developer’s commitment to creating

world-class real estate destinations but

also highlights the UAE’s role in the

global real estate industry.

Dubai Developer

Unveils Ultra-Luxury

Omniyat Bespoke for

UHNWI

Dubai-based developer Omniyat

has launched its latest

ultra-luxury offering, Omniyat

Bespoke, an exclusive development

tailored specifically for ultra-highnet-worth

individuals (UHNWI). The

project promises an unparalleled living

experience, featuring custom-designed

residences that provide a level of luxury

and sophistication rarely seen in

the market. Residents will have access

to a range of bespoke services and

amenities, ensuring that every need

is met with the highest level of care

and attention. This launch further

reinforces Dubai’s position as a global

hub for luxury real estate, attracting

the world’s wealthiest buyers seeking

extraordinary living experiences. The

demand for ultra-luxury residences in

the city continues to grow, with buyers

eager to invest in high-end properties

that offer exclusivity and privacy.

Omniyat’s new development is set to

cater to this growing demand, offering

a selection of custom-designed homes

that allow residents to live in a space

that reflects their personal taste and

style.

Dubai DIFC and Keyper Launch Real-Time Property

Data Platform

In a groundbreaking collaboration,

Dubai International Financial

Centre (DIFC) and Keyper have

partnered to launch a real-time property

data platform aimed at increasing

transparency in the real estate

market. The new platform provides

investors with up-to-the-minute data

on property valuations, rental yields,

and prevailing market trends, enabling

them to make more informed and

accurate investment decisions. This

initiative aligns with Dubai’s broader

vision of incorporating technological

advancements into its property sector

to drive innovation and efficiency. The

Azizi Developments has teamed

up with UAE-based Simco to

enhance its Azizi Joinery Factory

with state-of-the-art machinery and

cutting-edge equipment. This strategic

partnership is aimed at boosting the

factory’s production capabilities and

improving the quality of materials used in

the company’s real estate developments.

The factory will play a pivotal role in

supporting Azizi’s expanding portfolio by

providing custom woodwork solutions

for both residential and commercial

platform will serve as an essential tool

for investors, allowing them to access

crucial data on demand, streamlining

transactions, and ultimately enhancing

the overall investor experience.

Experts believe that this digital innovation

will not only attract more global

investors but also help Dubai maintain

its status as one of the leading real

estate investment destinations in the

world. The launch of this platform is

expected to significantly contribute

to the ongoing growth of the city’s

real estate sector by ensuring a more

informed and efficient market for both

buyers and sellers.

Azizi Developments Partners with Simco to

Equip Joinery Factory

projects. This collaboration underscores

Azizi Developments’ commitment to

innovation and sustainability, as the

company seeks to improve efficiency in

its construction processes and ensure

that only the highest quality materials

are used in its developments. Industry

experts believe this partnership will enable

Azizi to meet the growing demand

for premium real estate in the UAE,

particularly as the market continues to

expand and diversify.


Under the Patronage of His Highness Sheikh

Mohammed bin Rashid Al Maktoum

Vice-President and Prime Minister of the UAE and Ruler of Dubai

29 April – 01 May 2025 | Dubai World Trade Centre

Theme:

“HUMANITARIAN AID AND DEVELOPMENT

IN A POLARISED WORLD”

Featured Sessions:

WORLD’S LEADING EV ENT ON HUMANITARIAN AID & DEVELOPMENT

SUPPORTED BY

MEDIA PARTNER

DIHAD.ORG

Opinion

This groundbreaking

attraction showcases

cutting-edge technology

and innovative simulators,

providing our guests with

an unparalleled racing

experience. We take

great pride in bringing

this advanced technology

to our park and allowing

visitors to unleash their

inner racer.”

Faisal Al Nuaimi, General Manager of Ferrari World Yas Island, Abu Dhabi

Future Forward: The

UAE’s Rise as a Hub for

E-sports

The UAE has firmly established

itself as a global leader in innovation,

leveraging cutting-edge

technology to redefine industries and

elevate its status as a hub for economic

and digital transformation. Among the

many sectors experiencing this rapid

evolution, Esports has emerged as a key

player, integrating entertainment, technology,

and competition into a dynamic

industry shaping digital sports’s future.

At the heart of this transformation is

Ferrari World Yas Island, Abu Dhabi,

home to the world’s first Ferrari-themed

Esports Arena—a revolutionary step in

immersive entertainment and virtual

motorsports.

Ferrari World Yas Island, Abu Dhabi,

renowned for its adrenaline-fueled

attractions, has expanded its offering

with the Ferrari World Esports Arena.

This state-of-the-art facility sets a new

standard in competitive gaming and

motorsports entertainment, providing

an unparalleled experience for gamers,

racing enthusiasts, and families alike.

Designed to deliver high-octane

excitement, the arena boasts 20

high-performance Grand Turismo (GT)

simulators 14 tailored for adults and

6 for younger racers allowing guests

of all ages to experience the thrill of

competitive racing. Adding to the immersive

appeal, the arena features three

F1 motion base simulators, equipped

with steering controls modelled after

real Formula 1 steering wheels, offering

a hyper-realistic simulation of

driving a Ferrari race car. What sets

the Ferrari World Esports Arena apart

is its commitment to inclusivity. The

facility features 9 official racetracks

including the iconic Monza, Imola,

Silverstone, and Yas Marina Circuit

with new tracks introduced monthly,

ensuring fresh challenges for racing

aficionados.

Ferrari World Yas Island, Abu Dhabi

has positioned itself as a leader in Esports

entertainment and as a host for

world-class gaming competitions. The

globally recognized Ferrari HP Esports

Series Grand Final was held at the

venue for the first time in December

2024, drawing elite sim racers from

EMEA, APAC, and the Americas. The

integration of Esports with Abu Dhabi’s

world-class attractions catalyzes

tourism growth, attracting international

visitors and racing enthusiasts. With

the rise of Esports as a billion-dollar

industry, Ferrari World Abu Dhabi is at

the forefront of driving its expansion

in the region.


Sports News

Former Open Champion to Compete at Dubai Duty-Free Tennis Championships

A

former Open champion is set to

headline the upcoming Dubai

Duty-Free Tennis Championships,

one of the most prestigious tournaments

on both the ATP and WTA tours.

This high-profile event will be held at

the Dubai Duty-Free Tennis Stadium,

attracting some of the world’s most

talented tennis players and offering

fans a chance to witness world-class

performances. As one of the premier

sporting events in the UAE, the Dubai

Duty-Free Tennis Championships

continue to enhance the country’s

reputation as a leading destination

for international sports. Fans can look

forward to thrilling matches filled with

intense competition and unforgettable

moments. With a history of hosting

legendary players, the tournament is

expected to continue growing in prominence,

solidifying Dubai’s position at

the heart of global tennis.

Elite Triathletes Take Over

Hudayriyat Island

The world’s most accomplished

triathletes have gathered at

Hudayriyat Island in the UAE for

an exhilarating international triathlon

event. Athletes from across the globe

will compete in multiple categories,

each pushing their physical limits in

swimming, cycling, and running. The

event is expected to showcase the

very best talent in the triathlon world,

offering thrilling competition and an

inspiring display of endurance. With

the UAE rapidly establishing itself as

a leading destination for endurance

sports, this triathlon further solidifies

the country’s reputation in the international

sports arena. The event is

expected to inspire athletes of all levels,

encouraging them to take up the sport

and develop their skills. Hudayriyat

Island, with its stunning scenery and

ideal conditions for outdoor sports,

has proven to be the perfect backdrop

for such a prestigious event.

Mohammed Bin Rashid Endurance Festival Set

to Begin

The Mohammed Bin Rashid Endurance

Festival is all set to

begin in Dubai, showcasing the

very best of equestrian talent from

around the world. The festival, which

will feature top local and international

riders, highlights the UAE’s continued

leadership and excellence in endurance

sports. The event is organized under

the patronage of His Highness Sheikh

Mohammed bin Rashid Al Maktoum,

emphasizing the country’s deep-rooted

passion for horse racing and equestrian

sports. As one of the most significant

endurance events in the world, the

festival will attract leading riders, enthusiasts,

and spectators, reinforcing

Dubai’s status as a global center for

equestrian sports. With its emphasis

on promoting equestrian culture, the

Adam Yates, the British cyclist,

has successfully defended his

title at the UAE Tour, securing

yet another remarkable victory for

UAE Team Emirates. His outstanding

performance throughout the race has

solidified his reputation as one of the

top riders in the world, while also

reinforcing the UAE Team Emirates’

dominance in international road cycling.

Yates’ tactical mastery, combined with

his exceptional endurance, played a

crucial role in his victory, ensuring

he held on to his title. The win also

highlights the UAE’s increasing role as

a center for competitive cycling, with

the UAE Tour growing in stature each

year. As the UAE continues to foster

elite-level cycling events, it further

enhances the region’s appeal as a hub

festival also reflects the UAE’s rich

heritage and ongoing commitment to

supporting the development of this

noble sport.

Adam Yates Retains Title for UAE Team Emirates

for international sporting competitions.


UAE’s Medal Tally Rises at Fazza Para Athletics 2025

The UAE has made impressive

strides in the world of para-sports,

as its athletes continue to perform

at the highest levels at the Fazza Para

Athletics Championships 2025. This event,

a major fixture on the global para-athletics

calendar, serves as an important

platform for differently-abled athletes

to showcase their talent and compete

at the international level. The UAE athletes

have achieved outstanding results

across various categories, contributing

to the country’s growing reputation for

sporting excellence. Their remarkable

performances not only demonstrate

the UAE’s commitment to inclusivity

and diversity in sports but also inspire

future generations to get involved in

athletics. As participation in the event

grows year after year, Dubai continues

to strengthen its position as a global

leader in hosting major para-sporting

events, further promoting equality and

inclusivity in the sporting world.

UAE Wrestling

Federation Unveils New

Strategy

The UAE Wrestling Federation has

recently unveiled an ambitious

new strategy aimed at bolstering

the country’s wrestling programs and

setting the stage for future success

in international competitions. The

strategy emphasizes strengthening

grassroots development, enhancing the

infrastructure of training facilities, and

investing heavily in coaching programs

to improve the quality of training

for athletes. Through these efforts,

the Federation seeks to identify and

nurture young wrestling talent from

a young age, providing them with the

necessary tools to excel at the highest

levels. This comprehensive plan aligns

with the UAE’s broader objectives

to elevate its sports capabilities and

strengthen its participation in global

sporting competitions. Furthermore,

the Federation aims to raise the sport’s

profile within the UAE, generating

greater interest and enthusiasm for

wrestling.

UAE to host FIFA Club World Cup 2025 Trophy Tour


has proudly become the first

Asian country to host the

prestigious FIFA Club World Cup.

This historic development marks a

significant milestone in the country’s

growing influence in the international

sports landscape, further enhancing its

reputation as a global sporting hub.

The tournament will bring together

top football clubs from across the

world, all vying for the highly coveted

title of World Champion. As the UAE

prepares to host this grand spectacle,

it aligns with the nation’s broader strategic

vision to boost sports tourism

and promote its image on the global

stage. The event is expected to draw

His Highness Sheikh Mohammed

bin Hamad bin Mohammed Al

Sharqi honored the winners of the

prestigious Fujairah Mountain Challenge,

an event that has rapidly become a key

fixture in the UAE’s endurance and adventure

sports scene. Held in the rugged

and picturesque terrain of Fujairah, the

competition attracted elite athletes from

around the world, as well as outdoor

enthusiasts who took on the physically

large crowds, generate substantial

economic activity, and reinforce the

UAE’s position as a key player in

hosting world-class sporting events.

The global exposure generated by the

FIFA Club World Cup will also inspire

greater participation in sports across

the region.

Mohammed Sharqi Crowns Winners at Fujairah

Mountain Challenge

demanding challenge. The event not only

highlighted the UAE’s stunning natural

landscapes but also reinforced the nation’s

vision of promoting health, fitness, and

sports through adventurous activities.

As the popularity of outdoor endurance

events continues to grow, the Fujairah

Mountain Challenge is positioning the

UAE as a prime destination for adventure

tourism, attracting visitors from all

corners of the globe.


Investment


Public-private partnerships help in executing large-scale infrastructure projects in the UAE.

How Public-Private

Partnerships Drive

Major Infrastructure

Projects in the UAE

Public-Private Partnerships are Vital in Financing

the UAE’s Infrastructure, Combining Public

Oversight with Private Investment and Expertise.

The United Arab Emirates (UAE) has made

significant strides in infrastructure development

over the years, transforming its

cities with state-of-the-art facilities and

advanced technological systems. With

major projects such as airports, transportation

networks, and energy sectors

on the horizon, financing has become a

crucial factor in sustaining this growth.

Public-private partnerships (PPPs) have

emerged as a key model in delivering

large-scale infrastructure projects across

the country. This model leverages both

government resources and private sector

expertise, offering a collaborative

approach to addressing the UAE’s ambitious

infrastructural goals, fostering

innovation, sustainable growth, and

ensuring long-term economic resilience.


Public-private partnerships (PPPs)

have become central to financing

major infrastructure projects in

the UAE, particularly given the country’s

ambitions to develop cutting-edge cities,

transportation networks, and renewable

energy solutions. This model combines

the strengths of both sectors: the government’s

regulatory authority, stability,

and social responsibility, with the private

sector’s access to capital, innovation,

and efficiency.

The UAE government has faced increasing

demands to meet its infrastructure

needs as the country continues to expand,

both in terms of population growth and

economic diversification. While public

funds remain a crucial element, the

substantial financial requirements of

large-scale infrastructure projects often

exceed what can be reasonably funded

through government budgets. This is

where PPPs come into play, allowing

private companies to invest in and manage

projects while the government ensures

they align with national priorities.

PPPs have become particularly effective

in the development of sectors like

transportation, energy, and healthcare,

which require heavy investment and

long-term strategic planning. By sharing

the financial risks between the public

and private sectors, the UAE has been

able to mobilise significant capital that

would otherwise be out of reach, while

minimising the burden on taxpayers.

Key PPP Infrastructure Projects in

the UAE

The success of PPPs in the UAE is evident

through the variety of transformative

projects that have been completed or

are in progress. One of the most notable

examples is the Dubai Metro, which is

regarded as one of the most successful

PPP transportation projects globally.

The initial phase of the Dubai Metro,

which opened in 2009, was funded and

constructed through a public-private

partnership model. The Roads and

Transport Authority (RTA) collaborated

with international companies such as the

French group Alstom and the Japanese

company Mitsubishi Heavy Industries

to provide the required investment and

expertise. The metro has since become a

critical component of Dubai’s urban transportation

network, reducing congestion

and contributing to sustainability goals.

The Noor Abu Dhabi Solar Plant is another

standout example. This 1.17-gigawatt

solar plant, one of the largest in the world,

was developed under a PPP framework

with a consortium of private investors

and the Abu Dhabi government. The

project, which aims to power thousands

of homes with clean energy, demonstrates

how PPPs can support the UAE’s

long-term renewable energy goals while

attracting global investments. Through

these collaborations, the private sector

plays a significant role in the UAE’s

energy transition, contributing to the

country’s vision of achieving 50% clean

energy by 2050.

The Benefits of Public-Private

Partnerships

One of the most attractive aspects of PPPs

is their ability to unlock private sector

funding for large infrastructure projects,

which otherwise may be unaffordable

or too risky for the government alone.

This model allows the government to

allocate its limited financial resources to

other areas, such as social programs or

emerging sectors, while still progressing

with major infrastructure developments.

Additionally, private companies involved

in PPPs bring innovative approaches to

project delivery, such as advanced technology

and new business models, which

enhance efficiency. The integration of

such innovations helps reduce costs over

the lifecycle of the project. For example,

in the case of Dubai Metro, the private

sector’s role was critical in ensuring the

integration of cutting-edge technology

in the metro’s systems, which improved

safety and efficiency.

Another advantage is the alignment

of performance incentives between the

public and private sectors. Private companies,

which typically bear operational

and financial risks, are motivated to meet

performance targets and ensure the longterm

success of the project. This drives

cost-effective project management and

service delivery, which benefits both

the government and the end-users of the

infrastructure.

PPPs also create opportunities for

job creation and economic growth. By

involving the private sector, the projects

bring in expertise from global companies,

which often results in the development

of a skilled workforce.

The Future of PPPs in the UAE

Looking forward, PPPs will likely remain

a key feature in the UAE’s infrastructure

development strategy. With ongoing

The UAE Ministry of

Finance is keen on

enhancing the partnership

between the public

and private sectors,

recognizing their

significant role in the

social and economic

development of the

UAE, thereby promoting

sustainable economic

growth and ensuring

comprehensive prosperity

for all members of

society.”

H.E. Mohamed Hadi Al Hussaini,

UAE Minister of State for Financial Affairs

projects in sectors such as healthcare,

education, and transportation, the UAE

government is keen to expand its use

of this model to support national development.

The government’s broader

economic diversification agenda, outlined

in the UAE Vision 2021 and the UAE

Centennial 2071 plan, calls for increased

collaboration with the private sector to

achieve sustainable growth.

The UAE government has also taken

proactive steps to streamline the PPP

process, with the introduction of the

UAE PPP Law in 2020.


Business News

UAE Sports Startups Invited to Join Ethara Incubator for Funding Boost

Ethara has officially launched a new

incubator program specifically

aimed at supporting sports startups

based in the UAE. This program offers

a comprehensive package of funding

opportunities, business mentorship,

and strategic guidance to help nurture

and accelerate the growth of innovative

sports-related ventures. The initiative is

designed to provide essential resources

to startups in various areas such as

sports technology, fan engagement,

and event management, aligning with

the UAE’s ambitious vision to develop

its sports sector. Through this incubator,

Ethara seeks to drive forward

innovation and entrepreneurship in the

rapidly evolving sports industry. The

program is not only a catalyst for the

growth of emerging sports ventures

but also serves to attract investors

who are looking to capitalize on the

potential of this sector.

Abu Dhabi Sees 16%

Rise in Business

Licences in 2024

Abu Dhabi has witnessed a remarkable

16% increase in the

issuance of business licences in

2024, underscoring the emirate’s strong

economic growth and the growing

confidence of investors. This surge

in business activity is reflective of

the government’s continued efforts

to create a conducive environment

for entrepreneurship. In addition to

the rise in business licences, there

has been a significant uptick in freelancer

registrations, which doubled

in comparison to the previous year.

This growth is attributed to Abu Dhabi’s

investor-friendly policies, robust

digital transformation initiatives,

and a strategic focus on economic

diversification. Efforts such as easing

business regulations, providing easier

access to capital, and fostering a dynamic

ecosystem for innovation and

entrepreneurship have contributed to

these positive trends.

PureHealth Profits Surge as Revenue Hits USD 7B

PureHealth, the UAE’s largest

healthcare network, has reported

a dramatic surge in profits as its

revenue reached an impressive USD 7

billion in 2024. The company’s hospital

business, in particular, saw an 87%

increase in revenue, largely driven by

strategic acquisitions, an expansion

of its medical services, and a rising

demand for quality healthcare in the

region. This growth reflects the UAE’s

ADNOC Logistics & Services

(ADNOC LS), a key player in

the energy logistics sector, reported

a significant 22% year-on-year

increase in net profit, reaching an

impressive USD 756 million in 2024.

This growth was accompanied by

a 29% rise in revenue, driven by an

expansion of its operations and an

increase in demand for energy logistics

services. ADNOC LS’s strategic focus

on expanding its fleet and enhancing

ongoing investment in its healthcare

sector, with PureHealth continuing

to strengthen its position as a leader

in medical innovation and patient

care. As part of its expansion strategy,

PureHealth is focusing on advanced

healthcare solutions, leveraging digital

transformation to enhance its service

offerings, and pursuing international

expansion to meet the growing demand

for healthcare worldwide.

ADNOC LS Reports 22% Profit Surge to USD 756M

in 2024

its digital transformation initiatives

has greatly contributed to its financial

success. By optimizing its supply

chain management and streamlining its

logistics operations, the company has

strengthened its position as a leader

in maritime logistics, further supporting

the UAE’s energy sector. With the

growing global energy demand, ADNOC

LS has continued to capitalize on this

upward trend by expanding its market

reach and operational efficiency.


AD Ports Group Revenue Surges 48% to AED 4.7B Amid Acquisitions

AD Ports Group has achieved a

substantial 48% increase in revenue,

reaching AED 4.7 billion in

2024. This impressive growth is largely

attributed to a series of strategic acquisitions

in the logistics, shipping, and trade

infrastructure sectors. The company’s

successful expansion efforts have enhanced

its global footprint, bolstering

Abu Dhabi’s position as a major trade

hub. Key acquisitions have significantly

Alef Education Posts

AED 2.07B Revenue in

2024

The Ministry of Economy’s Next-

Gen FDI initiative has partnered

with Climate First, a prominent

European private equity firm specialising

in climate innovation investments,

to enhance the UAE’s climate-tech

ecosystem. This collaboration will see

Climate First introduce its portfolio

companies to the UAE, creating networking,

partnership, and expansion

opportunities. The partnership was

formalised at the inaugural Climate

First UAE Roadshow, organised in collaboration

with the Ministry of Economy

during Abu Dhabi Sustainability

Week (ADSW) 2025. The Roadshow

featured five cutting-edge climate tech

companies, Climeworks, Energy Dome,

ZeroAviva, Cylib, and Glasspoint which

showcased their advanced solutions in

areas like direct air capture, battery

recycling, hydrogen-electric aviation,

and solar steam generators.

reinforced AD Ports’ infrastructure,

allowing it to capitalize on emerging

global trade trends. Furthermore, the

company’s continued investment in

port operations and the digitalization

of its services has improved efficiency

and provided a competitive edge in the

market. As AD Ports integrates its newly

acquired assets, it is well-positioned

for sustained growth and increased

profitability.

Tabreed Revenue Reaches AED 663M in 2024

Tabreed, the UAE’s leading district

cooling provider, reported strong

financial results for 2024, with revenue

reaching AED 663 million. This steady

growth is attributed to increased demand

for energy-efficient cooling solutions and

the company’s strategic expansion into

new markets. District cooling has become

an essential service in urban development,

and Tabreed’s commitment to providing

sustainable cooling solutions aligns with

AD Ports Group has announced the

formation of a joint venture (JV)

to develop and operate a multipurpose

terminal in Congo, marking an

important step in its strategic expansion

into African markets. The new terminal

will handle a wide range of cargo types,

significantly boosting trade efficiency

between Africa and global markets. This

partnership is part of AD Ports Group’s

broader strategy to enhance its global

presence and support the growth of

international trade. The development

of this terminal is expected to create

substantial economic opportunities in

the region, enhancing the logistics and

supply chain capabilities between Africa

the UAE’s broader environmental and

sustainability goals. As part of its growth

strategy, Tabreed continues to invest in

advanced energy-efficient infrastructure

and technologies, ensuring the provision

of reliable and cost-effective cooling

services. The company’s performance

reflects the increasing importance of

district cooling in reducing energy consumption

and supporting sustainable

development in urban areas.

AD Ports Group Forms JV to Develop Multipurpose

Terminal in Congo

and key international markets. AD Ports’

investment in this African venture further

highlights the UAE’s growing influence

in global trade.


2025 OMODA E5

A New Era of Luxury and Innovation

on Wheels

Redefining electric SUVs with a robust 150 kW motor, advanced

driver-assistance systems, and a premium interior crafted for

unmatched comfort, the OMODA E5 offers a dynamic, technology-driven,

and luxurious driving experience in the UAE.

Power: 150 kW (201 h p)

Torque: 340 N m

Acceleration (0-100 km/h):

7.6 secon ds

Top Speed: 172 km/h

Battery Capacity: 61 kWh

Driving Range: Up to

430 km (WLTP)


The OMODA E5 is an all-electric SUV that has recently entered the UAE market, offering

a blend of modern design, advanced technology, and sustainable performance.

This vehicle aims to meet the growing demand for eco-friendly transportation without

compromising style or functionality.

What are the key features of the

OMODA E5?

61kWh lithium-ion

battery pack

Up to 430 km driving

range on a single charge

Front-mounted

150kW electric motor

204 PS power

output

0 to 100 km/h acceleration

in 7.6 seconds

80kW DC fast charger

compatibility

The OMODA E5 - A

Leap Forward in the

Electric SUV Market

The 2025 OMODA E5 represents a

major advancement in the electric

sport utility vehicle category.

With its impressive range, rapid

charging capabilities, and sophisticated

features, the vehicle stands

as an ideal choice for individuals

seeking a blend of performance,

luxury, and sustainability.

Whether you’re looking for an

eco-friendly driving option or a

vehicle that offers cutting-edge

technology with a premium feel,

the OMODA E5 delivers on every

front. For drivers in the UAE, this

electric SUV is poised to offer a

vibrant and forward-thinking driving

experience that aligns with

the needs of today’s automotive

enthusiasts.


Opinion

trade policies. In 2023, non-oil foreign

trade surpassed AED 2.3 trillion (USD

626 billion), and this upward trend is

expected to continue in 2025, fuelled

by Free Trade Agreements (FTAs)

and digital trade advancements. With

the UAE’s digital economy strategy

aiming to increase digital trade’s GDP

contribution to 20% by 2031, businesses

should consider integrating AI and

blockchain into trade processes to

remain competitive. To successfully

navigate the evolving trade landscape,

businesses should consider these

Strategic Adjustments:

1. Diversify trade partnerships:

Given uncertainties in US and European

trade policies, companies should

explore new opportunities in emerging

markets across Asia and Africa. The

UAE’s recent trade agreements with

India, Indonesia and Turkey exemplify

this shift.

2. Leverage digital trade

infrastructure :

The UAE’s advancements in paperless

trade, AI-driven supply chain management

and blockchain-based customs

clearance provide a competitive edge.

Investing in digital trade platforms

will help streamline operations and

reduce costs.

Kush Ahuja, Head of Eurasia and Middle East, ACCA

Global Trade Trends

and Their Impact on

Business Strategy

As the global economy becomes

increasingly complex in 2025,

businesses must adapt to shifting

trade policies, geopolitical tensions

and rapid technological advancements.

With the UAE positioned as a global

trade hub, companies operating in the

region have a unique opportunity to

capitalise on emerging trends while

mitigating potential risks.

According to our latest research,

trade restrictions are on the rise,

with the number of new trade barriers

introduced globally in 2024 reaching

five times the 2010–2019 average.

Protectionist policies, particularly the

US administration’s renewed focus on

tariffs, could impact trade operations.

An across-the-board 10 percentage

point increase in US tariffs could reduce

global GDP growth by 0.2 percentage

points in 2025, with further declines if

trade partners retaliate. This creates

uncertainty, but also opportunities for

regions like the Middle East that are

proactively diversifying their economies.

To remain competitive, businesses must

align with the UAE’s forward-looking

3. Navigate supply chain risks:

The ACCA Q4 GECS highlights ongoing

supply chain disruptions as a top risk

in 2025. Integrating predictive analytics

and AI-powered risk management tools

will enhance supply chain resilience

and prevent bottlenecks.

4. Embrace sustainable trade practices:

As global policies shift towards carbon

neutrality, sustainability in trade is

becoming a key differentiator. Aligning

with the UAE’s green trade initiatives,

such as sustainable logistics and carbon

offset programmes, will position businesses

as leaders in responsible trade.

Despite global headwinds, the UAE’s

financial-technological transformation

presents significant opportunities. By

embracing digital trade, strengthening

regional partnerships and enhancing

supply chain agility, businesses can

successfully navigate and capitalise

on the evolving trade landscape. The

businesses that invest in digitalisation

and diversified trade strategies now

will be the ones leading the next wave

of global trade success.


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Global News

UAE Introduces Significant Visa Rule Change for Indian Nationals


has implemented a groundbreaking

change in its visa policies

by introducing a new visa-on-arrival

system for Indian nationals who hold

valid visas or residency permits from

the United States, United Kingdom, or

the European Union. Under this new

initiative, eligible travelers can obtain

a 14-day visa upon their arrival in the

UAE, which can be extended for an

additional 14 days by paying a nominal

fee. In order to qualify for this visa, the

traveler’s passport must be valid for at

least six months from the date of entry

into the UAE. This progressive policy is

designed to enhance the convenience

for Indian tourists and business travelers,

fostering closer ties between

the UAE and India. It is also expected

to boost tourism, as Indian nationals

will have easier access to one of the

region’s most popular destinations for

leisure, trade, and cultural exchange.

Governments Play Catch-Up as $225 Billion

Stablecoin Opportunity Reshapes Global Markets

As the global market for stablecoins

continues to soar toward

a staggering valuation of $225

billion, governments worldwide are

beginning to intensify efforts to regulate

the accompanying artificial intelligence

(AI) technologies that power these

digital assets. The rapid expansion of

the stablecoin market, along with the

increasing integration of AI in financial

systems, has prompted policymakers

to consider creating frameworks that

can ensure financial stability, enhance

consumer protection, and reduce the

potential risks associated with market

volatility. As governments scramble to

catch up with the rapidly evolving digital

economy, many regulatory bodies are

focusing on measures that address the

concerns surrounding security, market

manipulation, and consumer rights.

The emerging challenge for regulators

is to find a balanced approach that

allows for the continued growth and

innovation of both stablecoins and AI

technologies.

UAE Announces World

Government Summit

2026

The United Arab Emirates has

proudly announced that the

prestigious World Government

Summit will return in 2026, underscoring

the nation’s continued dedication

to global collaboration, innovation,

and governance. This event serves as

an important platform where leaders,

experts, and policymakers from around

the world gather to discuss key global

challenges and share effective governance

practices. The World Government

Summit provides a unique opportunity

for participants to engage in insightful

dialogues on pressing issues such as

sustainable development, technology,

and governance models. The UAE is

solidifying its position as a global leader.

Middle East Businesses Plan to Increase AI Spending with 91%

A

recent report released by Deloitte,

in partnership with the

Mohamed bin Zayed University

of Artificial Intelligence (MBZUAI),

reveals that a significant 69% of organizations

in the Middle East plan to

ramp up their investments in artificial

intelligence (AI) technologies in the

coming year. The study emphasizes

the region’s growing commitment to

AI as a key driver of productivity and

innovation. An overwhelming 91% of

the businesses surveyed expect considerable

productivity improvements

as a result of their AI investments.

However, the report also highlights

several challenges that companies face

when adopting these advanced technologies.

Over 80% of the organizations


express pressure to adopt AI solutions,

but nearly half of them face difficulties

in finding the necessary talent and

technology infrastructure required for

successful implementation.

Dubai’s Dnata Invests

$17 Million in Sydney’s

New Airport

Dubai-based Dnata has committed

a substantial investment of $17

million to establish a state-of-theart

inflight catering facility at Sydney’s

new airport, a move that highlights the

company’s dedication to enhancing the

passenger experience and supporting

the growth of the aviation industry. The

new facility will incorporate cutting-edge

technology to streamline catering

operations, ensuring that passengers

receive high-quality, fresh meals in line

with global standards. Moreover, the

facility will adhere to stringent sustainability

guidelines, reflecting Dnata’s

ongoing commitment to reducing its

environmental footprint and promoting

eco-friendly practices in its operations.

By contributing to the development of

world-class aviation infrastructure in

Sydney, Dnata is helping to elevate the

travel experience for passengers while

also positioning itself as a significant

contributor to the ongoing expansion

of global aviation services.

Al Zeyoudi Engages

with Senior Officials,

Ministers to Accelerate

Trade Ties

Dr. Thani bin Ahmed Al Zeyoudi,

the UAE’s Minister of State for

Foreign Trade, has been actively

engaging with senior officials, ministers,

and prominent business leaders

during the ongoing World Government

Summit. These high-level meetings are

centered on accelerating the UAE’s

trade ties with key international partners

and exploring new avenues for

collaboration in emerging markets.

Dr. Al Zeyoudi’s efforts are focused on

fostering innovation-driven economic

growth, addressing barriers to trade,

and creating strategic partnerships that

align with the UAE’s long-term economic

objectives. The discussions also aim to

promote the UAE’s position as a global

trade hub. During these engagements,

Dr. Al Zeyoudi has emphasized the importance

of adopting new technologies

and innovative practices to enhance the

UAE’s global competitiveness.

G42 and Microsoft Launch AI Foundation in Abu Dhabi

In a groundbreaking development for

the Middle East, Abu Dhabi-based

G42, in collaboration with Microsoft,

has officially launched the

Responsible AI Foundation, marking

the first initiative of its kind in the

region. The foundation is dedicated to

promoting the ethical development and

deployment of artificial intelligence

technologies across various sectors,

with a primary focus on governance,

transparency, and the societal impacts

of AI. As AI technologies continue to

evolve and integrate into everyday life,

the Responsible AI Foundation aims

to ensure that these innovations are

used responsibly, aligning with regional

values while adhering to international

best practices. The foundation will

foster research, collaboration, and

the development of AI solutions that

address both the technical and ethical

challenges posed by these technologies.

The initiative is a critical step

in ensuring that AI’s transformative

potential is harnessed for the benefit

of all, while minimizing potential risks

such as bias, lack of accountability, and

unfair social consequences.

India and the U.S. to Double Bilateral Trade to

$500 Billion by 2030

India and the United States have

set a bold and ambitious target to

double their bilateral trade, aiming

to reach a monumental $500 billion by

the year 2030. This objective forms

part of a broader strategic initiative

to strengthen economic ties, foster

greater collaboration, and leverage

each nation’s respective strengths in

technology, trade, and industry. Both

countries are working closely to remove

barriers that currently restrict

market access and to create a more

conducive environment for mutual

trade and investment. The agreement

focuses on key sectors such as defense,

energy, information technology, and

healthcare, with the goal of boosting

economic cooperation.

Apple Hits Record Quarterly Sales in India as

iPhone Tops Smartphone Market

Apple has achieved a significant

milestone by reporting

record-breaking quarterly sales

in India, a crucial market for the tech

giant, as its flagship product, the iPhone,

has now become the top-selling

smartphone in the country. This

achievement underscores the growing

popularity of Apple’s products in India,

driven by the increasing demand for

premium smartphones and the company’s

strategic approach to pricing

and marketing. Apple has effectively

localized its marketing efforts, tailoring

its campaigns to cater to the diverse

preferences of Indian consumers

while also expanding its retail network

across the country. The surge in iPhone

sales can also be attributed to

Apple’s focus on providing high-quality

products that meet the evolving needs

of Indian consumers.


Technology


The UAE’s thriving tech ecosystem fuels startups and attracts global venture capital investment.

UAE is Emerging as

a Hotspot for Tech

Startups and Venture

Capital

The UAE’s Thriving Ecosystem Attracts Startups,

Boosts Innovation, and Drives Venture Capital

Investment Growth.

The UAE has rapidly become a prominent

hub for tech startups and venture

capital, attracting significant global attention.

With a supportive regulatory environment,

strategic investments, and a

focus on innovation, the nation offers a

dynamic ecosystem for entrepreneurs.

In 2024, venture capital funding in the

UAE is projected to exceed $2 billion,

a considerable increase from 2023. The

country’s focus on high-growth sectors

like artificial intelligence, driven by influential

leaders like Sheikh Tahnoun bin

Zayed, further strengthens its appeal. The

UAE’s rapidly growing tech landscape,

backed by prominent entities like Mubadala

Capital, positions it as a key player in

the Middle East’s dynamic startup and

venture capital scene.


The UAE has made significant

strides in becoming a global leader

in technology and innovation,

driven by strategic investments and a

forward-thinking approach to economic

diversification. A key area of focus has

been artificial intelligence (AI), with the

country positioning itself at the forefront

of AI adoption and development. In

2024, the UAE launched the MGX fund,

committing $100 billion to invest in AI

companies worldwide. This complements

the country’s existing sovereign wealth

fund, Mubadala, which manages assets

worth $300 billion, ensuring that the

UAE remains competitive on the global

stage. Additionally, UAE national security

adviser Sheikh Tahnoun bin Zayed Al

Nahyan has directed substantial investments

into AI-focused companies such

as G42, further bolstering the nation’s

technological ambitions. These investments

are not only positioning the UAE

as a regional leader but also as a key

player in the global AI race.

Venture Capital Growth

In recent years, the venture capital sector

in the United Arab Emirates has experienced

significant growth. During the

first half of 2024, the country attracted

funding amounting to $225 million, representing

a 19% decrease compared to

the same period in 2023. Nevertheless,

there was an 11% increase in the number

of transactions, which suggests a

rising interest in investments related to

technology startups based in the UAE.

This development is noteworthy, as the

UAE is the sole nation in the MENA

region where the volume of deals has

expanded despite a reduction in the total

capital raised. This phenomenon reflects

a transformation in investor behaviour,

characterized by a preference for more

selective and targeted investments, with

investors demonstrating an inclination

towards high-quality startups that exhibit

the capacity for scalable growth.

Investor Participation

The increase in investor participation

in the United Arab Emirates (UAE) has

been significant, demonstrating the

nation’s desirability as a destination for

technology investments. During the first

half of 2024, the total number of investors

in the UAE rose by 58%, culminating in

136 participants. This notable rise in

investor engagement can be attributed

primarily to international investors, who

have exhibited a strong preference for

the region. Specifically, the count of

international investors increased by a

factor of 2.4 when compared to the same

timeframe in 2023. This escalation in interest

from global investors is indicative

of the UAE’s reputation as a compelling

location for venture capital and private

equity opportunities. The country’s

advantageous regulatory framework,

accessibility to essential markets, and an

expanding technology ecosystem collectively

position the UAE as a prominent

hub for international investment within

the Middle East.

Sectoral Focus

In the United Arab Emirates, the FinTech

sector continues to dominate as the primary

recipient of venture capital investment.

Notwithstanding a 36% decline in funding

compared to the previous year, FinTech

accounted for 32% of the total venture

capital investment during the first half

of 2024. This sustained interest can be

attributed to the sector’s significant growth,

coupled with the UAE’s strategic role as

a financial centre within the Middle East.

Furthermore, there has been a 15% increase

in the number of deals in the FinTech

sector, indicating that investor interest

remains robust despite the decrease in

funding amounts. In addition to FinTech,

other sectors such as health technology,

e-commerce, and renewable energy are

experiencing considerable investments,

which contribute to the diversification of

the UAE’s technological landscape and

reinforce its status as a prominent hub

for technology startups.

Government Initiatives and Support

One of the key factors driving the growth

of tech startups in the UAE is the government’s

proactive approach to fostering

innovation and entrepreneurship. The

UAE government has implemented a range

of policies aimed at supporting startups,

from offering tax incentives to providing

access to funding and incubators. The

Dubai Future Foundation, for example,

has played a crucial role in supporting

startups by offering accelerator programmes

and networking opportunities

to entrepreneurs. Furthermore, the UAE’s

well-established free zones, such as Dubai

Internet City and Abu Dhabi’s twofour54,

provide a conducive environment for

tech startups by offering tax exemptions,

office space, and other business-friendly

incentives. These initiatives, coupled with

We want to be the fastest

country and fastest city

to deploy AI for a good

quality of life and to deploy

AI to make more effective

decision-making.”

H.E. Omar Sultan Al Olama,

UAE Minister of State for AI, Digital

Economy

a robust digital infrastructure, make the

UAE an attractive destination for tech

entrepreneurs looking to establish and

scale their businesses.

The United Arab Emirates demonstrates

a strong commitment to the development

of a robust technology ecosystem through

its strategic investments, an expanding

venture capital landscape, and heightened

participation from investors. With

sustained governmental support, the

UAE is strategically equipped to maintain

its status as a prominent centre for

technology startups and innovation in

the Middle East. The nation’s increasing

emphasis on sectors such as artificial

intelligence, financial technology, and

healthcare technology, coupled with its

conducive business climate, positions the

UAE to consistently attract both domestic

and international entrepreneurs. As the

global technology industry continues to

evolve, the UAE is poised to assume a

more significant role, thereby reinforcing

its position as a critical contributor to

the global startup ecosystem.


Healthcare News

Burjeel Holdings Achieves NIH Accreditation for Oncology Fellowship

In a groundbreaking development

for the UAE’s healthcare sector,

Burjeel Holdings has achieved

the prestigious National Institutes

of Health (NIH) accreditation for its

hematology-oncology fellowship program,

becoming the first healthcare

institution in the country to attain this

honor. This milestone is a testament

to Burjeel’s commitment to excellence

in medical education and its role in

shaping the future of oncology care

in the region. The NIH accreditation

allows Burjeel to provide world-class

training for specialists in hematology

and oncology, offering them access to

cutting-edge research, advanced cancer

treatments, and clinical trials. With an

emphasis on clinical research, patient

care innovations, and collaborative

learning, the program seeks to elevate

the standard of cancer care in the UAE.

NEOM Fund Partners With

Paradromics for Neurotech

Innovation

The NEOM Investment Fund has

entered into a strategic partnership

with Paradromics, a leading

neurotechnology company, to accelerate

the development of next-generation

healthcare solutions. The collaboration

will focus on pioneering advancements

in brain-computer interface (BCI) technologies,

which have the potential to

revolutionize treatments for neurological

disorders such as paralysis, epilepsy,

and other debilitating conditions. The

partnership’s primary objective is to

harness the power of artificial intelligence

(AI) and neural engineering to

enhance neuroprosthetics and patient

rehabilitation, providing individuals

with life-changing therapies that could

significantly improve their quality

of life. This partnership aligns with

NEOM’s broader vision of positioning

itself as a global leader in the field of

cutting-edge medical technologies and

bioengineering.

Emirati Conference on Medical Education 2025

Opens in Abu Dhabi

The Emirati Conference on Medical

Education 2025 has officially

opened in Abu Dhabi, bringing

together an impressive lineup of

healthcare professionals, medical

educators, policymakers, and industry

leaders. The event serves as a comprehensive

platform for discussing

the latest advancements in medical

education, focusing on topics such as

digital learning solutions, curriculum

development, and the integration of

artificial intelligence (AI) in medical

training. Experts from around the

world are sharing insights into how

The 2nd Middle East International

Meeting on Innovation and

Sepsis has officially kicked off

in Dubai, bringing together some of

the world’s leading experts to engage

in detailed discussions and share insights

on the latest advancements in

sepsis management. This prestigious

conference serves as a platform for

healthcare professionals to exchange

knowledge, explore new diagnostic

tools, and evaluate emerging treatment

methods for sepsis, a condition that

continues to be a significant cause

of hospital-related mortality globally.

AI can revolutionize the way medical

students are trained, offering more

personalized, efficient, and interactive

learning experiences. Another major

topic under discussion is the growing

use of simulation-based learning, which

allows students to practice complex

medical procedures in a safe, controlled

environment before performing

them on real patients. Additionally,

the conference highlights evolving

accreditation standards for medical

institutions, ensuring that they meet

the needs of an increasingly complex

healthcare environment.

Dubai Hosts Middle East Sepsis Innovation

Conference

The conference is highlighting the

latest innovations in sepsis diagnosis,

including the integration of artificial intelligence

(AI)-driven diagnostic tools,

which can significantly improve early

detection and prognosis. Discussions

also focus on early intervention strategies,

exploring how timely treatment

can reduce the severity of sepsis and

improve patient outcomes. The event

will showcase various global case

studies from different healthcare settings,

providing valuable insights into

real-world applications and challenges.


Julphar Reports USD 11M Profit Amid Strong UAE Healthcare Growth

Julphar, the UAE-based pharmaceutical

company, has reported a solid

net profit of USD 11 million for

2024, reflecting the continued robust

growth of the region’s healthcare sector.

The company’s impressive financial

performance is attributed to several

key factors, including increased demand

for generic medicines, strategic

cost management, and its expanding

international market presence. With

Medcare to Open 10

New Medical Centres

Across UAE

Medcare, one of the UAE’s

leading healthcare providers,

has announced plans to open

10 new medical centers across the

country within the next two years.

This ambitious expansion is part of

Medcare’s strategy to meet the growing

demand for high-quality healthcare

services in the UAE, particularly in

rapidly developing urban areas. The

new centers will offer a wide range

of services, including paediatrics, dermatology,

internal medicine, and other

specialized treatments, ensuring that

more patients have access to the care

they need, close to home. Medcare’s

investment in expanding its network

of healthcare facilities reflects the

broader trend of increasing private

sector involvement in the UAE’s

healthcare infrastructure. The company’s

expansion plans are designed

to enhance patient care by providing

convenient access to world-class medical

services and reducing the burden

on existing healthcare facilities. With

the UAE’s healthcare sector growing

at a rapid pace.

a focus on innovation and research,

Julphar has strengthened its position in

the highly competitive pharmaceutical

industry, contributing to the UAE’s

growing pharmaceutical manufacturing

sector. As the country continues to invest

heavily in healthcare infrastructure and

industry growth, Julphar is well-positioned

to capitalize on the expanding

opportunities within the regional and

global healthcare markets.

AEEDC 2025 Dental Conference Closes with

USD 5.4B in Deals

The AEEDC 2025 Dubai Dental

Conference has come to a

close, marking a highly successful

event with a record-breaking

USD 5.4 billion in business deals and

investments. The conference, which

gathered some of the most prominent

dental professionals, researchers, and

companies from around the world,

showcased cutting-edge developments

in oral healthcare. The event featured

an extensive exhibition of the latest

innovations in dental technology, such

as artificial intelligence (AI)-powered

Abu Dhabi-based healthcare conglomerate

PureHealth has made

the strategic decision to withdraw

from the planned acquisition of NMC

Health, one of the UAE’s largest private

hospital operators. This decision follows

an extensive strategic review of the

company’s investment priorities and a

shift in focus towards strengthening

its existing operations and expanding

organically. NMC Health, which has

been undergoing significant restructuring

due to financial difficulties, will not be

part of PureHealth’s expansion plans

moving forward. The move reflects a

broader trend in the UAE’s healthcare

investment landscape, where companies

diagnostic tools, 3D-printed dental

implants, and minimally invasive

treatment solutions. Key discussions

revolved around the future of dentistry,

with a particular emphasis on how

new technologies are transforming

patient care, improving treatment

outcomes, and enhancing the overall

dental experience. The record-breaking

number of business deals reflects

the growing investment in dental

technologies, signaling a bright future

for the industry.

PureHealth Withdraws from NMC Hospital Acquisition

are increasingly prioritizing sustainable

growth and operational efficiency over

large-scale acquisitions. Despite pulling

back from the NMC acquisition, Pure-

Health remains committed to expanding

its healthcare services in the region, with

plans to grow its network of medical

centers and invest in advanced medical

technologies.


Technology

Source: freepik.com

Smart technology enhances guest experiences and operational efficiency in UAE hotels.

How the UAE is

Leveraging Smart

Technology in

Hotels

Advanced Innovations Revolutionise Hospitality,

Enhancing Guest Satisfaction and Efficiency

Across UAE Hotels.

The United Arab Emirates is at the forefront

of the incorporation of smart technology

in its hospitality sector, thereby

enhancing guest experiences and operational

efficiency. For instance, the Jumeirah

Group has adopted innovative

solutions, including biometric check-in

systems. Similarly, Atlantis The Royal provides

state-of-the-art fitness equipment

and virtual exercise classes. Furthermore,

W Dubai – The Palm utilizes augmented

reality to create engaging environments

through interactive art installations, along

with mobile applications that allow guests

to control their room settings. These technological

advancements illustrate the

UAE’s dedication to remaining a leader

in hospitality innovation by addressing

the demands of contemporary travellers.


The UAE hospitality sector is undergoing

a significant transformation,

thanks to the integration

of smart technology. The shift towards

smart solutions is not only improving

operational efficiency but also enhancing

guest experiences and boosting revenue

generation. With market growth projected

at 10-15% annually, the impact of smart

technologies on UAE hotels is becoming

undeniable. Here, we explore how these

innovations are reshaping the hotel

industry, driving financial growth, and

increasing profitability in the region.

Operational Efficiency and Cost

Reduction

Smart technologies are enabling hotels

in the UAE to operate more efficiently,

directly contributing to reduced operational

costs. One of the most impactful

areas is the use of AI-driven systems

for facilities management. Systems like

Computer-Aided Facilities Management

(CAFM), for instance, allow hotel operators

to monitor and manage various

aspects of hotel infrastructure such as

HVAC, water systems, and lighting. By

providing real-time data on energy usage

and equipment status, these systems help

prevent unnecessary energy consumption

and reduce maintenance costs. According

to reports, the use of such technologies

can reduce maintenance costs by up to

20% and improve space utilisation by

15%. Real-time monitoring not only helps

identify and resolve issues before they

become costly problems but also optimises

energy use, which is particularly

important in the UAE’s extreme weather

conditions. With energy-efficient practices

becoming a key factor in reducing operational

expenses, smart technologies are

paying off in a big way for UAE hotels.

Revenue Enhancement through

Personalisation

Personalisation is a key factor in driving

revenue growth in the hospitality sector,

and smart technology plays a central

role in this. AI and data analytics are

now used to create customised guest

experiences based on past interactions,

preferences, and behaviours. From

tailored room settings to personalised

restaurant recommendations, hotels

are using data to enhance guest satisfaction

and build long-term loyalty. A

recent survey found that 71% of hotels

use data analytics to personalise guest

experiences and marketing efforts. This

Today, more than 150

startups in the UAE’s

travel sector offer

services through digital

applications, online

platforms, and innovative

technical solutions.”

H.E. Dr. Ahmad Belhoul Al Falasi,

UAE Minister of State for

Entrepreneurship

has led to higher occupancy rates and

repeat visits, translating into increased

revenue. By analysing customer data,

hotels can target guests with relevant

promotions and loyalty programmes,

resulting in a more effective sales strategy.

Moreover, the ability to offer tailored

services, such as smart room controls,

personalised entertainment, and customised

dining experiences, allows hotels to

differentiate themselves in a competitive

market. This level of personalisation not

only meets the expectations of modern

travellers but also encourages guests to

spend more during their stay, ultimately

boosting hotel revenue.

Sustainability and Energy Management

Sustainability is a key priority for the

UAE’s hospitality sector, with hotels increasingly

adopting smart technologies to

enhance energy efficiency, reduce waste,

and promote environmental responsibility.

By utilising IoT devices and AI, hotels can

lower their carbon footprint while cutting

operational costs. Around 82% of hoteliers

are planning to invest in energy-efficient

technologies, such as smart thermostats,

lighting systems, and water management

solutions, to optimise energy consumption.

IoT sensors play a critical role in

monitoring energy usage in real time,

reducing waste, and ensuring resource

efficiency. As eco-conscious travellers

seek sustainable accommodations, hotels

are responding by implementing green

initiatives powered by smart technologies.

This commitment not only helps the

UAE meet its environmental goals but

also provides hotels with a competitive

edge in attracting guests who prioritise

sustainability, making it an essential

component of their business strategy.

Market Adoption and Financial

Implications

The financial implications of adopting

smart technologies in the UAE’s hotel

sector are profound. The UAE’s hospitality

industry is expected to grow by

10-15% annually, with much of this growth

driven by the adoption of digital and

smart technologies. High-profile hotel

chains, including Anantara, Sheraton,

Four Seasons, Millennium, and Swissotel,

are integrating smart systems into their

operations. These systems range from

smart check-ins and digital concierge

services to AI-powered room management

and energy optimisation tools. This widespread

adoption is transforming the way

hotels operate, from reducing operating

costs to enhancing revenue generation.

Smart systems enable hoteliers to make

data-driven decisions that improve guest

satisfaction, increase operational efficiency,

and maximise profitability. For example,

hotels that implement AI-powered guest

management systems have seen up to 25%

increases in operational efficiency, leading

to higher profit margins. Hotels that

embrace these innovations also benefit

from improved brand reputation, as guests

value the convenience, sustainability,

and personalised services provided by

smart technologies. Furthermore, the

implementation of these technologies

positions hotels to stay competitive in

an increasingly digital-first market.

Smart technologies have proven to

be a game-changer for the UAE’s hotel

industry, delivering significant financial

benefits across various facets of

operations. As the UAE continues to

embrace technological advancements,

the hospitality industry stands to gain

even more, with increased profitability.

Hotels that strategically implement smart

technologies will be well-positioned to

thrive in the rapidly evolving market.


Travel News

UAE Participates in 51st UN Tourism Regional Commission Meeting in Doha


recently participated in the prestigious

51st United Nations World

Tourism Organization (UNWTO) Regional

Commission meeting for the Middle East,

which was held in Doha, Qatar. The UAE

delegation was led by H.E. Abdullah

Ahmed Al Saleh, Undersecretary of

the Ministry of Economy, a key figure

in driving the country’s global tourism

initiatives. This high-level participation

underlines the UAE’s continued commitment

to regional and global tourism

development. During the meeting, the

UAE was re-elected to the UNWTO Executive

Council for the 2025–2029 term,

reinforcing its influential role in shaping

tourism policy and guiding sustainable

growth across the region. The meeting

featured extensive discussions about

ongoing and future tourism initiatives,

ranging from enhancing tourism infrastructure

to promoting sustainability.

Moscow Strengthens

Tourism Ties with the

UAE Amid Surging

Visitor Numbers

The Moscow City Tourism Committee

has launched a dedicated roadshow

in the Middle East with the goal

of strengthening tourism ties with the

UAE. This strategic initiative seeks

to attract more Emirati visitors to

Moscow, capitalizing on the city’s rich

cultural heritage, vibrant history, and

diverse attractions, which range from

historical landmarks like the Kremlin

and Red Square to its renowned theaters,

galleries, and museums. Moscow’s tourism

committee is actively promoting the city

as a top-tier destination for both leisure

and business travelers. This campaign

comes at a time when there has been

a notable increase in Emirati interest

in Russian destinations, with more

UAE residents seeking unique cultural

experiences. Moscow’s growing popularity

among Middle Eastern travelers presents

a significant opportunity to expand

tourism collaboration between the UAE

and Russia.

Flynas to Launch Nonstop Flights from Jeddah

to El Alamein

Flynas, a prominent Saudi low-cost

airline, has announced an exciting

new route with the launch of

direct flights between Jeddah and El

Alamein, Egypt, set to begin on July

1. The new service is part of Flynas’s

ongoing expansion strategy and aims

to enhance connectivity between Saudi

Arabia and Egypt, two countries with

deep cultural, economic, and historical

ties. This new flight route will operate two

weekly flights between King Abdulaziz

International Airport in Jeddah and El

Alamein International Airport, providing

travelers with a convenient and affordable

travel option. The Jeddah-El Alamein route

complements Flynas’s existing Riyadh-

El Alamein flights, offering more travel

choices to passengers and facilitating

increased tourism and business travel

between the two countries. By introducing

this new destination, Flynas strengthens its

position as a leading low-cost airline in the

region and underscores its commitment

to offering accessible travel options to an

expanding international customer base.

UAE Airline Air Arabia Launches Massive Ticket

Sale, Prices Start from $36

Air Arabia, the UAE’s leading

low-cost airline, has rolled out

a major promotional ticket sale

offering fares as low as $36. This initiative

is designed to make air travel more

accessible to a broader audience, allowing

both leisure and business travelers to

enjoy affordable flying options to a wide

array of destinations. The sale includes

an extensive range of domestic and

international routes, with travelers able to

book flights to various destinations across

the Middle East, North Africa, Asia, and

Europe. This discount initiative aims to

stimulate tourism and encourage people

to explore new places while benefiting

from Air Arabia’s affordable pricing.

The airline’s expansive network covers

more than 170 destinations, ensuring

travelers can easily plan their trips and

enjoy exceptional value for their money.

This promotional campaign highlights

Air Arabia’s continued commitment to

providing cost-effective travel options

and its growing popularity in the budget

airline segment.


Dubai, Shanghai, and London Lead Global Hotel Room Growth in 2025

In 2025, Dubai, Shanghai, and London

are expected to lead the world in

hotel room growth, driven by their

continuing economic development,

tourism investments, and enduring

appeal as global destinations. Dubai’s

strategic investments in tourism

infrastructure, coupled with its status

as a key global business hub and popular

tourist destination, are key factors in its

expanding hotel room inventory. The city’s

wide range of luxury hotels, resorts, and

mid-range accommodations caters to both

business travelers and vacationers from

UAE’s Winter Tourism

Campaign Boosts Hotel

Revenues by 87%

The UAE’s “World’s Coolest Winter”

campaign has proven to be a tremendous

success, contributing

to a significant 87% increase in hotel

revenues, which amounted to a staggering

$517 million. Launched under

the leadership of His Highness Sheikh

Mohammed bin Rashid Al Maktoum,

Vice President and Prime Minister of the

UAE and Ruler of Dubai, the initiative

has attracted both domestic and international

visitors seeking to experience

the country’s pleasant winter weather

and diverse attractions. The campaign

successfully positioned the UAE as

an ideal winter destination, offering

a range of unique experiences, from

luxury resorts and cultural festivals to

outdoor adventures and family-friendly

activities. The remarkable growth in

hotel revenues is a direct reflection of

the success of this tourism initiative,

which has successfully captured the

attention of travelers from all over

the world.

around the world. Similarly, Shanghai’s

rapid economic development and

status as a major cultural, financial, and

technological center make it a top choice

for international visitors. London’s status

as a global city, with its historic landmarks,

vibrant culture, and renowned educational

institutions, continues to draw millions

of visitors annually. These three cities are

expected to experience significant growth

in hotel room availability, a testament to

the resilience and attractiveness of these

global tourism powerhouses.

Dubai Welcomes 18.7 Million Tourists in 2024

Dubai has experienced a substantial

surge in tourism in 2024,

with 18.7 million international

overnight visitors arriving in the city,

marking a remarkable 9% increase

from the previous year. This impressive

growth solidifies Dubai’s position as

one of the world’s premier destinations

for both business and leisure

travel. The city’s diverse offerings,

from world-class shopping malls and

luxury hotels to iconic landmarks like

the Burj Khalifa and Palm Jumeirah,

make it an attractive choice for global

visitors. Sheikh Hamdan bin Mohammed

bin Rashid Al Maktoum, Crown

Prince of Dubai, attributed this success

to the city’s visionary leadership, the

constant efforts to innovate its tourism

offerings, and the effective collaboration

between both public and private

sectors. This achievement aligns with

Dubai’s broader economic goals outlined

in the Dubai Economic Agenda

D33, which aims to double the city’s

economy by 2033.

UAE Launches First Phase of 10-Year Blue Visa

The UAE has introduced the first

phase of its much-anticipated

10-year Blue Visa, a groundbreaking

initiative designed to recognize and

reward individuals who have made

exceptional contributions to environmental

protection and sustainability.

This innovative visa targets individuals

who have demonstrated a strong

commitment to environmental action,

including members of international

organizations, companies, associations,

non-governmental organizations, as

well as global award winners and distinguished

researchers in the field of

environmental conservation. The Blue

Visa reflects the UAE’s deep commitment

to environmental sustainability

and supports its growing efforts to

foster global cooperation on ecological

issues. It is available not only to

Emiratis but also to resident advocates

of the environment, enabling them to

continue their crucial work in driving

sustainable practices.


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Finance World Magazine | Edition: March 2025

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