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A real digital civilization begins

when value and identity move

freely across worlds.”

HERMAN NARULA

Co-founder & CEO,

Improbable, MSquared (M²)

and Somnia

BUILDINGThe

Herman Narula on Virtual Worlds, Real Billions, and

a Digital-First Civilization

POWER ISSUES

MOST

INFLUENTIAL

BUSINESS

WOMEN

OF THE

UAE

2025

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Editor’s Note Note

One way to keep momentum going is

to constantly have greater goals.

Editor’s Note

EDITORIAL

Ambrish Agarwal,

ambrish@thefinanceworld.com

Ayushi Sharma,

ayushi@mcfillmedia.com

DESIGN EDITORIAL

Hamza Khan Ambrish Agarwal,

Ayushi Sharma,

STUDIO AND PRODUCTION

Mommina Asif

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In today’s rapidly evolving global economy, financial

landscapes are being reshaped by innovation, regulatory

transformation, and shifting market dynamics. Traditional

paradigms are giving way to new models of value creation as

capital moves faster, technologies redefine financial services,

and investors adapt to a more interconnected world. The March

edition of Finance World Magazine, themed “Transforming

Tomorrow: Markets, Mobility, and Money,” explores these

shifts and examines how emerging technologies, strategic

investments, and policy developments are influencing the

UAE’s financial future.

Our cover story presents “The 100,” a special power issue

celebrating the visionary business leaders shaping the UAE’s

economic landscape. These individuals represent the ideas,

resilience, and strategic thinking that continue to drive the

nation’s growth and global influence.

Beyond finance, this edition explores Dubai’s infrastructure

and real estate milestones from record-breaking property

transactions to transformative mobility projects such as the

Dubai Loop, alongside the city’s evolving vision for sustainable

urban development under the 2030 roadmap. Together, these

stories offer a comprehensive perspective on where capital

is flowing, how intelligent risk is being managed, and the

strategies shaping the UAE’s next phase of financial and

investment growth.

feedback@mcfillmedia.com

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March 2026 www.thefinanceworld.com 5

Contents March

2026

COVER STORY

GLOBAL

P114 | World Governments Summit 2026:

Dubai at the Center of Global Policy

Global leaders converge in Dubai to shape the

policies and defining the next era of economic

cooperation.

INTERVIEW

P18 | The 100

A spotlight on the visionaries transforming industries and

influencing global business.

DIGITAL ASSETS

P98 | EmCoin Sets a New Standard with UAE’s First

Regulated MultiAsset Platform

A new regulated platform signals the UAE’s growing leadership in the

evolution of digital and multi-asset investing.

P100 | How Federal Rules Are Changing

Investments

Manoj Sureka on reshaping the investment

landscape and capital flows.

6 www.thefinanceworld.com March 2026

ENERGY

SPORTS

P126 | Investor Appetite for UAE Green Bonds:

Insights from the Market

Strong demand for green bonds reflects the UAE’s accelerating shift

toward sustainable finance and climate-aligned investments.

FINTECH

P130 | Investing in the Future of UAE

Sports

Strategic investment is driving sports-led economic

growth.

REAL ESTATE

P102 | FIDA Cluster Launch: Abu Dhabi Reinvents Fintech P122 | Dubai Real Estate Breaks

and Alternative Finance

Records

Abu Dhabi’s FIDA cluster positions the emirate as a rising hub for fintech

innovation and alternative finance ecosystems.

Property market opens the year with recordbreaking

transactions.


GROW YOUR

BUSINESS

We make Short / Long Term

Investments in Growing Businesses

info@wasayainvestments.com

www.wasayainvestments.com

Banking

Source: Ai generated

Digital banking platforms illustrate the UAE’s rapid shift towards seamless, technology-driven financial services.

The Bankless Revolution:

How Fintechs Are

Making Traditional

Banks Obsolete

FinTech Innovation is Redefining Banking

Models as Digital-First Platforms Challenge

Traditional Financial Institutions in the UAE

Traditional banking is entering one of

its most disruptive phases as fintech

firms redefine how financial services

are built and delivered. What began as

a move towards digital convenience has

evolved into a structural shift favouring

speed, accessibility and technology-led

innovation. In the UAE, this transition is

being accelerated by high digital adoption,

supportive regulation and a rapidly

expanding fintech ecosystem. Customers

now expect seamless, app-first experiences,

while businesses demand faster

payments and smarter data-driven solutions.

As fintechs scale and embed finance

into everyday platforms, traditional banks

are increasingly compelled to reassess

their models, partnerships and long-term

relevance globally today.


Financial services are experiencing

a fundamental shift as fintech

companies continue to redefine

how consumers and businesses access,

manage and move money. What was

once considered an incremental digital

upgrade has evolved into a bankless

revolution that challenges the traditional

banking model at its core. Across

global markets and particularly in the

UAE, fintechs are no longer operating

at the edges of the system. They are

reshaping the financial value chain and

forcing incumbent banks to reconsider

their role in a digital-first economy.

One of the most significant advantages

fintechs hold over traditional

banks is speed. Built on cloud-native

infrastructure and modular technology

stacks, fintech firms are able to

develop and deploy new products far

more quickly than legacy institutions.

Traditional banks often operate on

decades-old core systems that require

extensive integration and regulatory

testing before even minor changes

can be implemented. In contrast, fintechs

can iterate rapidly, responding

to customer needs and market shifts

with minimal friction. In the UAE, this

agility has enabled digital banks and

fintech platforms to scale quickly, offering

streamlined onboarding, real-time

payments and intuitive mobile-first

experiences.

Customer Expectations Are Redefining

Financial Services

Customer expectations have played

a decisive role in accelerating this

shift. Today’s users expect financial

services to mirror the convenience and

personalisation of leading technology

platforms. Fintechs have capitalised

on this demand by prioritising user

experience, transparency and accessibility.

Features such as instant account

opening, real-time transaction insights

and AI-driven financial recommendations

have become standard offerings.

For many users, especially younger

demographics and SMEs, these capabilities

outweigh the perceived security

of traditional branch-based banking.

Embedded finance has further weakened

the traditional bank’s position

as the primary interface for financial

activity. Payments, lending and insurance

are increasingly integrated directly

into non-financial platforms, from

e-commerce marketplaces to mobility

We are committed to

developing strategic

digital projects that

enhance financial

services, strengthen

transparency and support

the UAE’s vision of

becoming a leading global

financial destination.”

H.E. Mohamed bin Hadi Al Hussaini,

Minister of State for Financial Affairs, UAE

Ministry of Finance

and real estate applications. In the

UAE, this trend is gaining momentum

as businesses look to reduce friction

and improve customer retention by

embedding financial services within

their digital ecosystems. As a result,

financial interactions are becoming

contextual and invisible, reducing the

need for customers to engage directly

with banks at all.

AI and Regulation Are Powering

the Bankless Model

Artificial intelligence has emerged

as another powerful enabler of the

bankless model. Fintechs are using AI

to automate credit assessment, detect

fraud, personalise product offerings

and enhance customer service at scale.

These technologies not only improve

efficiency but also significantly lower

operating costs. In the UAE, AI-driven

risk assessment and compliance tools

are being widely adopted, allowing fintechs

to meet regulatory requirements

while maintaining speed and flexibility.

This contrasts with traditional banks,

where manual processes and layered

approvals often slow decision-making.

Regulatory frameworks in the UAE

have also contributed to fintech growth.

Authorities have taken a measured

but progressive approach, balancing

innovation with financial stability. Regulatory

sandboxes, specialised fintech

licences and clear digital banking frameworks

have created an environment

where new entrants can experiment

and scale responsibly. This supportive

ecosystem has attracted both regional

and international fintech firms, positioning

the UAE as a leading hub for

digital finance in the Middle East.

Open finance is another development

reshaping the competitive landscape.

By enabling secure, consent-based

data sharing, open finance allows

customers to access more personalised

and competitive financial products.

For fintechs, this opens the door to

building services that aggregate data

across multiple institutions, offering a

holistic view of a customer’s financial

position. Traditional banks, which

once relied on data exclusivity, now

face increased competition from agile

platforms that can leverage shared data

to deliver superior value.

Digital Currencies are Redrawing

Financial Infrastructure

Digital currencies and tokenisation

are also influencing the evolution of

financial services. Central bank digital

currency initiatives and the growing

acceptance of tokenised assets are

creating new payment and settlement

models that bypass traditional

intermediaries. In the UAE, digital

currency programmes are expected

to enhance cross-border transactions,

reduce settlement times and lower

costs for businesses. Fintechs are

well-positioned to integrate these

innovations into everyday financial

services, further reducing reliance on

conventional banking rails. Despite

these shifts, traditional banks are not

becoming obsolete overnight. However,

banks that fail to modernise their

technology, simplify processes and

adopt a customer-centric mindset risk

losing relevance as fintechs continue

to capture market share.


Banking News

UAE Banking Assets Grow by more than $210B in 2025

The UAE’s banking sector posted

strong momentum in 2025, with

total banking assets rising by more

than USD 210 billion to reach approximately

USD 1.45 trillion by the end of

December, compared to about USD 1.24

trillion a year earlier, according to data

from the Central Bank of the UAE. The

increase reflects sustained growth in both

domestic and foreign assets, supported

by higher credit demand across key

sectors of the economy. Gross banking

assets recorded steady month-on-month

expansion during the final quarter, underpinned

by lending to the private sector

as well as government-related entities.

Total deposits also increased during the

year, driven by higher resident deposits

and stronger inflows from non-residents,

which reinforced overall liquidity levels

within the system. This highlights the

resilience of the UAE’s banking sector.

Mashreq Posts Exceptional

Results as Net

Profit Hits $1.91B

Mashreq delivered a strong fullyear

performance in 2025,

underpinned by international

expansion, balance-sheet growth and

disciplined execution across its franchises.

Operating income reached AED12.6 billion,

reflecting a 3% year-on-year increase

on an adjusted basis, while net profit

before tax rose to AED 8.3 billion. Net

profit after tax stood at AED 7.0 billion,

despite the introduction of corporate

income tax. Balance-sheet momentum

remained robust, with customer loans

expanding by 32% and deposits rising by

27%, lifting total assets by 25% to AED 335

billion and benefiting from higher trade

and capital flows across key corridors.

Efficiency remained a key strength,

supported by a cost-to-income ratio of

31% and a strong funding profile, with a

CASA ratio of 62%.

CBUAE Assets Increase by USD 212B in 2025,

Reaching USD 1.4T

Banking assets maintained a robust

growth trajectory throughout

2025, expanding by more than

AED 780 billion over the year to reach

approximately AED 5.34 trillion by the

end of December 2025, up from about

AED 4.56 trillion at the close of December

2024. According to the Central Bank of

the UAE (CBUAE), gross banking assets

rose by 1.7 per cent, increasing from AED

5,251.9 billion at the end of November

2025 to AED 5,339.9 billion by the end

of December 2025. Gross credit also

recorded growth of 1.5 per cent, climbing

from AED 2,532.9 billion at the end of

November 2025 to AED 2,570.3 billion.

CBUAE Launches Exclusive Gold and Silver

Commemorative Coins

The Central Bank of the

UAE (CBUAE) has issued

commemorative gold and silver

coins to mark the fifth anniversary of

Mohamed bin Zayed University of Artificial

Intelligence (MBZUAI), highlighting

the institution’s rapid progress since its

establishment. The gold coin features

MBZUAI’s Knowledge Centre on the

obverse, accompanied by the dates 2020

and 2025, symbolising the university’s

five-year journey. Its design includes

the phrase “Power from Knowledge

to Serve,” encircled by the university’s

name in Arabic and English, alongside its

official emblem. The reverse side displays

the UAE’s national emblem, framed by

the words “Central Bank of the UAE” in

both languages. The silver coin mirrors

this theme, showcasing the Knowledge

Centre and the 2020–2025 timeline.


ADCB Reports AED 11.44B Net Profit in 2025

Abu Dhabi Commercial Bank

reported net profit after tax of

AED 11.445 billion in FY2025,

representing 22 per cent year-on-year

growth. Meanwhile, fourth-quarter net

profit reached AED 3.342 billion, reinforcing

the bank’s consistent earnings

momentum. Profit before tax increased

by 21 per cent to AED 12.843 billion

during the year. As a result, the bank

delivered its 18th consecutive quarter

of profit before tax growth. In addition,

Bank ABC Posts USD 257M

Net Profit in 2025

Bank ABC (Arab Banking Corporation)

reported its full-year 2025

financial results, with net profit

attributable to shareholders reaching

USD 257 million, slightly below the previous

year’s figure as elevated loan-loss

provisions and minimum top-up taxes

weighed on earnings. Total operating

income climbed to a record USD 1,410

million, up around 5% year-on-year, reflecting

resilient core revenue growth

and disciplined cost management

across its global network. The bank

also delivered historic total assets

approaching USD 50 billion, driven by

loan expansion and treasury activity,

while maintaining strong capital and

liquidity ratios. Balance-sheet strength

supported the Board’s recommendation

of a dividend distribution, underscoring

confidence in the franchise’s resilience

amid geopolitical uncertainty, shifting

monetary conditions and evolving trade

dynamics across core markets.

Q4 profit before tax rose to AED 3.736

billion, reflecting a 30 per cent increase

compared with the same period last

year. Operating income rose by 14

per cent in 2025. Moreover, revenue

growth was supported by continued

expansion in both net interest income

and fee-based income streams. At

the same time, operational efficiency

improved, as the cost-to-income ratio

declined to 28.2 per cent.

UAB Delivers Strong FY 2025 Profit Growth on

Balance-Sheet Expansion

United Arab Bank (UAB) posted

a solid performance in FY 2025,

reporting a 45% year-on-year increase

in net profit after tax to AED 438

million, reflecting improved operating

momentum and disciplined execution.

Total income rose 31% to AED 797

million, supported by a strong rise in

both net interest income, which grew

24%, and non-interest income, which

surged 56%, highlighting effective

diversification.

DIFC Announces Landmark Annual Results for

2025

Dubai International Financial Centre

(DIFC) announced landmark

annual results that reinforce

Dubai’s standing as the leading global

financial centre in the Middle East,

Africa and South Asia region. In 2025,

DIFC recorded 28 per cent year-on-year

growth in organically acquired active

companies, reaching 8,844, reflecting

strong international confidence in

Dubai as a hub for finance, business

and innovation. Active company registrations

rose by 2,525, marking a 39

per cent increase compared to 2024 and

underscoring DIFC’s role as a strategic

gateway to global markets. Combined

revenues surged by a record 20 per cent

to AED 2.13 billion, while net profits

climbed 28 per cent to AED 1.48 billion.

His Highness Sheikh Maktoum bin Mohammed

bin Rashid Al Maktoum said

the results reflect Dubai’s long-term

vision to expand global financial and

economic opportunities.


Economy


The UAE’s business districts reflect steady economic momentum driven by non-oil sectors and expanding trade activity.

UAE Economic

Highlights Q1 2026:

What January–February

Told Us

Early 2026 indicators underscore resilient growth,

strong non-oil performance and sustained investor

confidence in the UAE

As the UAE entered 2026, early economic

signals from January and February offered

valuable insight into the country’s nearterm

trajectory. While full first-quarter

data is still pending, indicators across

business activity, trade and investment

point to a resilient and steadily expanding

economy. Strong non-oil sector performance,

improving business sentiment

and sustained global engagement have

reinforced confidence among corporates

and investors alike. Growth across key

sectors such as services, logistics, real estate

and technology highlights the strength

of domestic demand and the effectiveness

of diversification policies. These early

developments reflect the impact of longterm

economic reforms, positioning the

UAE evolving global economic conditions.


As the UAE stepped into 2026,

early economic indicators suggest

the nation’s economy is

entering the year on a solid footing.

While comprehensive quarterly GDP

figures for Q1 2026 are still forthcoming,

business activity data, trade milestones

and sectoral dynamics in January and

February provide a clear snapshot of

where the economy is heading, underscoring

resilience, diversification and

stronger demand in both domestic and

international markets.

A key early signal came from the

S&P Global Purchasing Managers’

Index for January, which rose to 54.9,

the strongest reading in nearly a year

and firmly above the 50-point threshold

that separates growth from contraction.

This expansion was driven by

a sharp acceleration in new business

orders, recorded at the fastest pace

in nearly two years, alongside a clear

improvement in output expectations

across services, manufacturing and

other non-oil segments. Dubai’s headline

PMI also strengthened, reflecting

robust momentum in the emirate’s

non-oil private sector and its growing

contribution to national economic

performance. Business confidence

reached its highest level in over a year,

supported by optimism around future

demand, pipeline growth and improving

market conditions.

These readings highlight the continued

strength of the non-oil private

sector, which remains the primary

engine of UAE economic growth. Diversification

has moved beyond policy

intent to measurable impact, with

sectors such as real estate, logistics,

professional services, technology and

tourism demonstrating consistent

expansion at the start of the year.

Many firms reported an increase in

input purchases at the fastest pace in

several years, signalling expectations

of sustained activity and the need to

support higher production levels. This

willingness to invest in inventory and

capacity suggests that businesses are

positioning themselves for continued

demand rather than short-term

recovery.

UAE Growth Strategy Gains Early

Momentum in 2026

This early momentum aligns closely

with the UAE’s broader economic

strategy, which prioritises sustainable

growth through diversification, global

integration and innovation-led development.

Non-oil activities now account

for the majority of economic output,

reinforcing the country’s reduced exposure

to commodity price volatility.

Forward-looking growth projections for

2026 indicate that the UAE is expected

to outperform both global averages

and many regional peers, supported

by domestic demand, infrastructure

investment and expanding trade links.

Trade performance provides additional

context for the positive signals

emerging in early 2026. The UAE recently

achieved a significant milestone

by surpassing USD 1 trillion in non-oil

foreign trade, driven by strong growth

Strengthening the

resilience and

competitiveness of

the national economy

remains a key priority,

with a continued focus

on non-oil growth,

global trade integration

and a business-friendly

regulatory environment

that supports longterm

sustainable

development.”

H.E. Abdullah bin Touq Al Marri, Minister

of Economy and Tourism, UAE

in exports, re-exports and imports.

This reflects rising global demand for

UAE-produced goods, including precious

metals, aluminium, petrochemical

derivatives and technology-related

products. The expansion of comprehensive

economic partnership agreements

and strengthened logistics capabilities

has further enhanced the country’s role

as a global trade and re-export hub,

reinforcing confidence in continued

trade-driven growth this year.

Together, these developments point

to a dynamic interaction between

domestic economic momentum and

external demand. The UAE’s diversified

economic base has enabled businesses

to scale production, expand operations

and invest in workforce growth even

as global conditions remain uneven.

While external risks persist, including

geopolitical uncertainty and shifting

interest rate expectations, the underlying

strength of the UAE’s economic

framework provides a buffer against

potential shocks.

Labour Market Signals Gradual

Hiring Growth in Early 2026

Labour market dynamics also support

a cautiously optimistic outlook. Rising

new orders and higher workloads are

translating into expectations of gradual

employment growth, particularly in

services, technology and trade-related

industries. Some firms have reported

cost pressures linked to wages and

input prices, reflecting tighter labour

conditions in select segments. However,

continued investment in skills

development, talent attraction and

workforce localisation is expected

to support productivity gains and

long-term employment sustainability.

Although official employment data for

Q1 2026 is yet to be released, business

sentiment suggests that hiring activity

is likely to strengthen as the quarter

progresses. Investment trends further

reinforce the positive outlook. The

UAE continues to attract strong foreign

direct investment flows, supported by

regulatory reforms, sector-specific incentives

and the expansion of economic

zones. At the same time, UAE-based

companies are increasingly active in

overseas markets, reflecting growing

confidence and balance sheet strength.

The country’s stable macroeconomic

environment, continues to underpin

investor confidence across sectors.


Local News

UAE and Egypt Presidents Meet in Abu Dhabi for Bilateral Talks

UAE President His Highness Sheikh

Mohamed bin Zayed Al Nahyan

welcomed Egyptian President

Abdel Fattah El-Sisi to Abu Dhabi for

a high-level meeting. The discussions

centred on enhancing bilateral relations

and broadening cooperation across

strategic sectors that contribute to

the development objectives of both

nations. The leaders also exchanged

views on regional and global issues, with

particular attention to developments

in the Middle East. They emphasised

the significance of implementing the

Gaza ceasefire, facilitating the continuous

delivery of humanitarian aid,

and promoting efforts toward a just

and comprehensive peace grounded

in the two-state solution. Both sides

reiterated their dedication to close

coordination to uphold regional peace,

stability, and shared prosperity.

UAE Industrial Exports

Reach Historic AED

262B

In 2025, the UAE set a new milestone

with industrial export values hitting

AED 262 billion, up 25 per cent

from the previous year and more than

twice what it was when the Ministry

of Industry and Advanced Technology

was launched in 2020. Exports from

medium‐ and high‐technology sectors

climbed to AED 92 billion, representing

a 42 per cent increase and exceeding

the 2031 goal notably ahead of time.

Authorities attribute this achievement

to effective industrial strategies designed

to enhance competitiveness and

expand the nation’s footprint in international

markets. His Highness Sheikh

Mohammed bin Rashid Al Maktoum,

Vice President and Prime Minister of

the UAE and Ruler of Dubai, said the

UAE’s industrial strength stems from

close alignment between government

policy and private industry, backed

by advanced digital infrastructure

and a robust financial system, and

he forecasted even stronger export

results in 2026.

UAE Visa Overstay Fines 2026 Rules, Rates, and

Compliance Guidance

Visa overstay penalties in the

UAE have been standardised

under the 2026 immigration

regulations, affecting visitors and

residents alike. The updated system

imposes a consistent daily charge for

overstaying across most visa categories

and offers multiple payment channels,

including online and in-person options,

to simplify compliance. Individuals

who remain in the country past their

authorised stay will incur fines, and

Deem Finance, part of the Gargash

Group, has announced a strategic

partnership with Biz2X, a

global AI-powered lending platform, to

expand data-driven embedded finance

and help bridge the SME credit gap in

the UAE.

Under the collaboration, Deem will

integrate Biz2X’s AI-driven lending

technology to roll out POS-based SME

authorities have made it easier to

look up and settle these charges to

support timely compliance. Under the

current regulations, the UAE charges

a uniform overstay fine of AED 50 per

day for most categories of visas once

the permitted stay has lapsed. This flat

daily rate has replaced the previous

multi-tier penalty regime, simplifying

calculations and enforcement.

Deem Finance Partners with Biz2X to Expand

SME Financing

financing solutions. As a result, eligible

merchants can access credit based on

real-time sales and transaction data,

rather than traditional balance-sheet

assessments. This approach is intended

to better reflect actual business performance

and day-to-day cash-flow

realities. The initiative targets SMEs

that are often underserved by conventional

banking models.


Dubai-Based BinGhatti Prices USD 500MN Long 5 Year Sukuk Successfully

Dubai-based developer Binghatti

has successfully priced a USD

500 million five-year sukuk,

securing a coupon of 8.375 per cent at

a spread of 461.3 basis points over US

Treasuries, reflecting strong investor

demand for the offering. Moreover,

final order books exceeded USD 2.2

billion, excluding joint lead manager

interest, allowing the issuer to tighten

pricing from initial guidance in

NMDC Group Net Profit

Jumps 29% Year on Year,

Tops AED 4B

NMDC Group reported strong

financial performance in 2025,

driven by revenue growth, higher

profitability, and a robust project

pipeline. Revenues reached AED 28.8

billion in 2025, rising 10 per cent yearon-year.

Moreover, the UAE accounted

for 81 per cent of total revenues, while

international markets contributed 19

per cent. Net profit increased 29 per

cent year-on-year to exceed AED 4.0

billion, driven by operational efficiencies,

margin expansion and a favourable

business mix.

As a result, the Board proposed a 20

per cent increase in cash dividends to

AED 844.4 million, equivalent to AED

1 per share, subject to shareholder approval

at the Annual General Assembly.

Awarded projects totalled AED 19.5

billion during the year. Consequently,

the backlog increased to AED 57.9

billion, providing strong long-term

earnings visibility.

the 8.875 per cent area. As a result,

the transaction achieved favourable

terms despite ongoing volatility in

global debt markets. The Regulation

S senior unsecured sukuk was issued

through Binghatti Sukuk 2 SPV and

carries a BB rating from Fitch. Additionally,

proceeds will be allocated to

general corporate purposes to further

support the company’s broader growth

strategy.

Dubai Residential REIT Reports AED 1.28B Profit

Dubai Residential REIT reported

solid financial performance for

the year ended 31 December

2025, supported by strong operating

fundamentals and disciplined asset

management. Moreover, profitability

improved across key metrics, reflecting

resilient demand in the residential

leasing market. Revenue increased by

9.0% year-on-year to AED 1.95 billion

in 2025. Additionally, net profit before

changes in the fair value of investment

property rose by 14.5% to AED 1.28

AD Ports Group has secured longterm

project financing to support

its expansion in Egypt, underscoring

its strategy to deploy multilateral-backed

funding for critical infrastructure

assets in high-growth markets. The

Group finalised a USD 115 million project

finance facility to support the development

of the Noatum Ports – Safaga Terminal.

Moreover, the facility carries a 15-year

tenor and is backed by the International

billion. Adjusted EBITDA also grew

by 15.2% to AED 1.49 billion and, as a

result, the adjusted EBITDA margin

strengthened to 76.4% from 72.3%. Occupancy

levels remained high, with the

average rate rising by 1.7 percentage

points to 98.3%. Moreover, average

revenue per leased unit increased to

AED 53,524, while revenue per leased

square foot reached AED 56.5. Therefore,

performance reflected sustained

tenant demand and effective execution

of leasing and renewals.

AD Ports Group Secures USD 115M Financing for

Safaga Terminal

Finance Corporation, with participation

from the National Bank of Kuwait – Egypt

and other institutional investors via an

IFC-managed co-lending programme.

Financial close is expected in Q1 2026,

subject to customary conditions. The USD

200 million Safaga terminal, located on

Egypt’s Red Sea coast, will be the first

internationally operated commercial

port terminal in Upper Egypt, enhancing

regional trade connectivity.


The 100

Cover

Story

The 100 is an ode to visionary business leaders who have built remarkable

enterprises and lasting legacies. It recognizes individuals who understand that

true success extends far beyond growth, profit, or influence. For these leaders,

achievement is ultimately defined by impact, how they give back to the communities

that shaped their journey, strengthen the ecosystems that supported

their rise, and open pathways for the next generation to succeed.

Through philanthropy, mentorship, and purpose-driven leadership, they

demonstrate that meaningful success is measured not only by what one builds,

but by the value one returns to society. The 100 brings together these exceptional

figures, offering a closer look at the ideas, resilience, and vision that continue

to shape industries, empower communities, and define the future of business.



Abdul Wahab

Al-Halabi

Executive Chairman

IFFCO Group

Abdul Hamied

Seddiqi

Chairman

Seddiqi Holding

Abdul Hamied Seddiqi is a defining force

behind one of the Middle East’s most respected

family enterprises. As Chairman

of Seddiqi Holding, he oversees a diverse portfolio

of businesses that span luxury retail, horology

services, real estate management, and strategic

investments, anchored by the iconic Ahmed

Seddiqi & Sons and Swiss Watch Services.

His entrepreneurial vision has been instrumental

in expanding the company’s portfolio, carefully

selecting global partners that resonate with regional

sensibilities while anticipating shifts in consumer

demand. Under his stewardship, Ahmed Seddiqi

& Sons, the largest and longest-standing business

unit of the Group, has retained its position as the

region’s leading retailer of luxury watches and

jewellery since its establishment in 1950. Today,

Ahmed Seddiqi & Sons represents over 100 luxury

watch and jewellery brands across more than 50

locations. With decades of leadership rooted in

precision, patience, and purpose, Abdul Hamied

Seddiqi continues to shape the future of luxury retail

and horology in the region, demonstrating that a true

legacy is not only preserved but continually refined.

With more than 25 years of experience across

the Middle East, Abdul Wahab Al-Halabi

brings together board-level leadership,

governance discipline, and a data-driven approach

to enterprise transformation, earning a reputation

as a steady hand in periods of strategic change.

As Executive Chairman of IFFCO, he plays a pivotal

role in defining the Group’s strategic direction and

strengthening governance-led performance across its

diverse business units. His mandate focuses on en

terprise-wide oversight, structured decision-making,

and the execution of long-term strategic programmes

designed to ensure sustainable growth. Beyond IFF-

CO, Al-Halabi serves as a Board Member at Talabat

and Burjeel Holdings, where he provides strategic

guidance on organisational performance, risk management,

and long-term positioning across high-impact

sectors. Al-Halabi holds a Bachelor of Science

in Economics from the London School of Economics

and an Executive MBA from École des Ponts Paris-

Tech. He is a Fellow of the Institute of Chartered Accountants

in England and Wales (ICAEW), a member

of the Chartered Institute for Securities & Investment

(CISI), and Entrepreneurs’ Organization UAE.


Adil

Alzarooni

Chief Executive Officer

Al Zarooni Emirates Investments (ZEI)

Adel

Mardini

Founder & CEO

Jetex

AAdel Mardini set out not just to build an aviation

company but to redefine private flying

for elite travellers. In 2005, he founded Jetex

in Dubai with a seven-person team working from a

single room. Today, Jetex employs over 1,000 professionals,

operates across five continents, and runs

38 private jet terminals worldwide, with key FBO

hubs in Paris, Ireland, and Dubai. Guided by Mardini’s

customer-first philosophy, the company blends

global scale with highly personalised luxury services

for heads of state, ultra-high-net-worth individuals,

celebrities, and executives. Jetex continues to

expand through innovation. In 2024, it was appointed

by Red Sea Global to operate the private jet terminal

at Red Sea International Airport, its first destination

in Saudi Arabia. In 2025, the company partnered

with Archer Aviation to introduce electric vertical

take-off and landing aircraft. Beyond Jetex, Mardini

serves on the board of MENA Business Aviation

Association and participates in global platforms such

as the World Economic Forum and more. Over two

decades, Mardini has built more than a company, a

global luxury aviation ecosystem centred on precision,

discretion, and elevated travel experiences.

Dr. Adil Alzarooni is an Emirati leader at the

intersection of entrepreneurship, economic

development, and family business sustainability.

With an engineering degree, an MBA, and a

PhD in Family Business Systems, he brings over two

decades of executive experience across government,

family-owned enterprises, and the private sector.

He has held senior roles at Economic Zones

World and JAFZA, contributed to the establishment

of Mobily in Saudi Arabia, and built deep expertise

in telecommunications, logistics, and IT security. In

2009, he founded Al Zarooni Emirates Investments

(ZEI), a diversified, Shari’a-friendly family holding

company focused on high-impact sectors across

the MENASA region. Dr. Alzarooni currently serves

as CEO of Al Bidayer Holding and holds multiple

board positions across healthcare, financial services,

logistics, and consumer brands. He actively supports

entrepreneurs and multinational companies with

market entry, partnerships, and public-sector engagement

across the Middle East. A recognised advisor

and frequent speaker on family business institutionalisation,

he is driven by a mission to preserve wealth,

values, and enterprise continuity across generations.


Ahmed Alkhoshaibi

Group Chief Executive Officer,

Arada

Driving growth across luxury real estate, hospitality,

and wellness.

Ahmed Alkhoshaibi is the

Group Chief Executive

Officer of Arada and one of

the region’s most influential real

estate leaders. Since establishing

the company in 2017, he has guided

Arada’s rapid rise into a leading

international developer with a

portfolio exceeding AED 130 billion,

recognised for delivering worldclass,

community-centric developments

that redefine urban living.

Under Alkhoshaibi’s leadership,

Arada has strategically expanded

into the luxury and ultra-luxury

segments, introducing landmark

projects such as Akala, the

world’s first precision wellness

destination between DIFC and

Downtown Dubai; Armani Beach

Residences at Palm Jumeirah; W

Residences at Dubai Harbour;

and Anantara Sharjah Resort and

Residences. Each reflects Arada’s

emphasis on design excellence,

wellbeing, and long-term value.

Beyond real estate, Alkhoshaibi

has driven Arada’s diversification

into complementary verticals,

strengthening the Group’s long-term

resilience. Arada’s hospitality and

entertainment division now includes

a pipeline of 1,650 hotel keys and

a growing portfolio of F&B brands

and experiences, including Boost

Juice, The Reformatory Lab, Hungry

Wolves, and The Nest student

accommodation. Through Manbat,

a social impact partnership with the

UAE Ministry of Climate Change and

Environment, Arada also advances

sustainability and community

engagement. In fitness and wellness,

Arada operates the UAE’s largest

large-scale gym network, encompassing

brands such as Wellfit,

FitnGlam, FITCODE, and Platform.

Since its launch, Arada has grown

to a team of more than 2,600 real

estate professionals and launched 11

projects across Sharjah and Dubai,

recording over $4.7 billion in sales in

2025. In February 2025 alone, Arada

sold out all four phases of Masaar

2, totalling $1.5 billion in value.

Guided by a clear mission to build

integrated, sustainable communities

that support healthier, happier

lives, Alkhoshaibi continues to

embed smart technologies, sustainable

construction, and high-quality

public spaces across Arada’s

developments. He also serves on

the Board of Advisors at the Sharjah

Entrepreneurship Center (Sheraa),

contributing to the region’s broader

entrepreneurial ecosystem.Through

this work, he contributes to the

UAE’s forward-looking urban development

and sustainability goals.

From sales launch

in early 2025 to full

handover in mid-2028,

Masaar 2 will be one of

the fastest community

completions in the UAE,

and delivered to the

exceptional standard

that our customers have

come to appreciate.”


Highlights

Industry

Real Estate

Established In

2017

Countries Operating In

3

Total Employees

2,600+


Anass

Boumediene

Co-Founders & Co-CEOs

Eyewa

Ahmed Mohamed Al

Naqbi


Emirates Development Bank

Ahmed Mohamed Al Naqbi stands at the

forefront of the UAE’s economic transformation

as a leading figure in banking and

national development finance. As Chief Executive

Officer of Emirates Development Bank (EDB),

he leads the country’s development bank and a

central engine of economic diversification, industrial

growth, and long-term competitiveness.

Since assuming the role in 2021, Al Naqbi has

spearheaded the development of forward-looking

strategies and innovative financing solutions designed

to unlock investment in the UAE’s future.

His leadership combines commercial discipline with

developmental purpose, reinforcing EDB’s unique

mandate to deliver impact at scale.

Before joining EDB, Al Naqbi held senior leadership

roles across retail, corporate, and investment banking

at the National Bank of Abu Dhabi and First Abu

Dhabi Bank. An alumnus of Harvard Business School

and Virginia Tech’s School of Architecture and Urban

Studies in the United States, Ahmed Mohamed Al

Naqbi continues to shape a more resilient, diversified,

and innovation-led UAE economy, using finance

as a catalyst for sustainable national progress.

Anass Boumediene is the Co-Founder and Co-

CEO of eyewa, the fastest-growing eyewear

retailer in the Middle East. Under his leadership,

Eyewa has rapidly expanded its footprint

to over 180 stores across the GCC and achieved

landmark milestones, including a $100 million

funding round in 2024 led by global growth investor

General Atlantic. The company aims to reach

250 stores by the end of 2025, combining digital

innovation with an expanding physical presence.

With over 12 years of experience in e-commerce

and startups, Anass Boumediene brings strong industry

insight to eyewa. Before co-founding the company

in 2017 with Mehdi Oudghiri, he served as Managing

Director MENA at Foodpanda, driving growth

for brands like HungerStation in Saudi Arabia and

Otlob in Egypt. Earlier, he worked at Bain & Company,

Deutsche Bank, and ACG Capital. A CFA and

FRM charter holder, Boumediene holds a Master’s

in Management from ESCP Business School and a

Bachelor of Finance from Concordia University. At

Eyewa, he focuses on customer-centric innovation

and he e also serves on the board of Alyasra Fashion,

reflecting his wider influence across regional retail.


Highlights

Industry

Logistics

Renenue

AED 1.56B


70+

Total Employees

16,000+

(As of Q1

2025)

Amadou Diallo


Aramex

With more than

three decades

of international

leadership

experience,

Amadou Diallo

brings the insight,

discipline, and

global perspective

needed to

strengthen

Aramex’s position

as a leading

logistics innovator.”

Driving global logistics innovation with operational

excellence and customer-focused growth.

Amadou Diallo has been

appointed Group Chief

Executive Officer of Aramex,

effective 1 May 2026, bringing

over 30 years of global leadership

experience in the logistics and supply

chain industry. Based in Dubai,

Aramex has grown since its founding

in 1982 into a global logistics

leader, renowned for innovative

solutions that connect businesses

and consumers across continents.

Diallo joins Aramex following

his tenure as CEO for the Middle

East & Africa at DHL Global Forwarding,

where he successfully led

the company’s regional operations,

building high-performing teams

and driving transformative growth

across freight, express, and supply

chain operations. His career spans

multiple continents, with senior

leadership roles, including CEO,

CFO, and COO positions, across

Europe, Asia Pacific, the Middle

East, and Africa. This breadth of

experience underpins his operational

expertise and strategic insight.

Known for a collaborative leadership

style, Diallo combines performance-driven

decision-making with

innovation and operational excellence.

His appointment comes at a

pivotal moment for Aramex, as the

company continues to expand its

global footprint while maintaining

its reputation for reliability, agility,

and customer-focused solutions.

With Amadou Diallo at the helm,

Aramex is poised to strengthen its

position as a leading logistics innovator

across the region and beyond.


Amit Kaushal


Dubai Holding Real Estate (DHRE)

Leading disciplined expansion, and international

partnerships to shape Dubai’s future economy.

Amit Kaushal, Group Chief

Executive Officer of Dubai

Holding, has been a defining

force behind one of the UAE’s most

ambitious corporate transformations,

steering the Group through

a period of accelerated growth

while aligning its strategy with the

visionary mandate of His Highness

Sheikh Mohammed bin Rashid Al

Maktoum to build a sustainable,

innovation-led future economy.

Since his appointment in February

2018, Amit has led Dubai

Holding’s evolution into a globally

diversified investment group

spanning real estate, hospitality,

retail, media, leisure, and entertainment,

with investments extending

across more than 30 countries. His

leadership is marked not simply

by expansion, but by disciplined

scale, growth underpinned by

governance, operational integration,

and long-term value creation.

Over the past eight years, Amit

has overseen landmark integrations

that reshaped the Group’s operating

model, including Meraas, DXB

Entertainments, and most notably

Nakheel and Meydan in 2024. These

strategic consolidations streamlined

operations, unlocked synergies, and

strengthened Dubai Holding’s foundations

for sustainable economic

growth, reinforcing its position as

a leader built for the future. Capital

markets excellence has been a

cornerstone of Amit’s tenure. Under

his leadership, Dubai Holding successfully

listed TECOM Group PJSC

and Empower on the Dubai Financial

Market in 2022, followed by the

public listing of Dubai Residential

REIT in 2025, milestones that reflected

institutional maturity, investor

confidence, and strategic clarity.

Amit’s strategic leadership has

strengthened Dubai Holding’s

investments in major UAE companies,

global partnerships, and

diversified sectors, while expanding

luxury hospitality and real estate

platforms worldwide. Through

landmark developments, cross-border

acquisitions, and joint ventures

with leading global firms, he has

enhanced Dubai’s international

profile and economic resilience.

Guided by extensive experience in

global finance, Amit drives scale

with purpose, strategic diversification,

and long-term value creation.

Beyond commercial growth, he

actively contributes to governance,

institutional oversight, and academic

initiatives, shaping Dubai Holding’s

role in the nation’s economic growth

and positioning the UAE as a globally

influential, innovation-driven hub.

Dubai Holding’s

transformation under

Amit Kaushal reflects

a strategy focused on

disciplined expansion,

institutional strength,

and long-term value

creation aligned

with Dubai’s broader

economic vision.”


Highlights

Industry

Real Estate

Established In

2002


13

Total Employees

20,000+


Ashish

Panjabi

Chief Operating Officer

Jacky’s Goup

Antonoaldo

Neves

Group Chief Executive Officer

Etihad Airways

Antonoaldo Neves is the Group Chief Executive

Officer of Etihad Airways, one of the

world’s most acclaimed airlines. Appointed in

October 2022, Neves has overseen a remarkable turnaround,

with record profits after tax of $476 million

in 2024, more than three times the previous year, and

total revenues of $6.9 billion. Under his leadership,

Etihad carried 22.4 million passengers in 2025 and

expanded its network by launching 17 new routes,

with 10 more routes already announced for 2026.

Before joining Etihad, Neves held top executive

roles in global aviation. He was CEO and Board

Member of TAP Air Portugal, where he led a major

turnaround that enhanced the airline’s value,

passenger experience, and contribution to Portugal’s

tourism sector. A civil engineer by training,

Neves holds an MBA from the Darden School of

Business, University of Virginia, and a Master’s

in Corporate Finance from IAG Business School,

PUC-Rio. With a career spanning continents and

airlines, Antonoaldo Neves is recognised for his

strategic vision, operational excellence, innovative,

decisive, and inspiring leadership, and ability to

deliver transformative growth in the aviation sector.

Ashish Panjabi is the Chief Operating Officer

of Jacky’s Business Solutions and a dynamic

entrepreneur shaping the UAE’s tech, retail,

and FMCG sectors. He oversees a diverse portfolio

spanning B2B technology solutions, premium

electronics retail, and organic consumer goods,

balancing innovation with operational excellence.

Ashish Panjabi leads Jacky’s Business Solutions,

providing tech services across education, healthcare,

banking, hospitality, and government, including

robotics, visitor management, 3D printing, and

enterprise computing. He also oversees Jacky’s

Retail with Samsung Brand Shops and the Jacky’s

Brand Shop at Dubai Hills Mall, and Jacky’s Organics,

marketing Eatiq Organic Foods. An advocate

for entrepreneurship, Panjabi is president-elect

of TiE Dubai, mentors startups through in5 Tech

and Techstars, and serves on boards including

Dubai Computer Group and advisory roles at RetailME

and MRF. His leadership blends strategy,

innovation, and execution, fostering sustainable

growth, market impact, and industry-leading performance,

driving growth across business solutions,

retail, and organic products in the UAE.


Highlights

Industry

Healthcare

Current Footprint

17.6m


9+

Total Employees

19,657+

(Annually)

Azad Moopen

MD, FRCP & Founder Chairman,

Aster DM Healthcare

Our journey is

aligned with UAE’s

Vision 2031, and

we are proud

to contribute to

the country’s

emergence as a

global healthcare

destination

combining medical

excellence,

innovation, and

patient-centricity.”

Building accessible, scalable, and sustainable healthcare

through integrated, patient-focused systems.

Dr. Azad Moopen has played a

defining role in building one

of the region’s most integrated

healthcare platforms. As Founder

and Chairman of Aster DM Healthcare,

his leadership has been centred

on a clear operating principle:

healthcare must be accessible, affordable,

and delivered at scale without

compromising clinical standards.

Since establishing his first clinic

in Dubai in 1987, Dr. Moopen

has steadily expanded Aster DM

Healthcare into a multi-country

network spanning hospitals,

clinics, diagnostic centres, and

pharmacies. Today, the group

operates across seven countries

through brands including Aster

and Medcare, offering care across

primary to quaternary levels and

serving diverse patient segments.

What differentiates Dr. Moopen’s

approach is the emphasis on

building integrated systems rather

than standalone assets. Alongside

expansion, Dr. Moopen has prioritised

long-term capacity building.

The group employs over 31,000

healthcare professionals, and its

continued investments in medical

education address structural

shortages in skilled talent across

the region. This focus supports both

clinical quality and the sustainability

of the wider healthcare ecosystem.

His contribution lies in the

disciplined building of healthcare

infrastructure that balances scale,

sustainability, and access, making

him a consistent presence on the

region’s healthcare power lists.


Bijan

Alizadehfard

Managing Partner

Cypher Capital

Bal

Krishen

Chairman

The Century Group

Bal Krishen is a visionary business leader

whose career spans nearly three decades

across financial markets, fintech, technology,

consumer goods, and real estate. Widely recognised

for his strategic foresight and entrepreneurial

spirit, he has built a reputation as a transformative

force, shaping industries while creating meaningful

impact for communities and stakeholders alike.

As Chairman of Century Group, Bal Krishen’s journey

reflects both resilience and ambition. Beginning

his career in 1999 at Century Financial as a dealer,

he quickly distinguished himself through his deep

understanding of financial markets. Rising through

the ranks from trader to head of investment, CEO,

and eventually chairman, he has guided the Century

Group’s evolution from a brokerage firm into

a diversified, multi-industry powerhouse spanning

investment services, wealth management, banking,

insurance, real estate, technology, and logistics.

Under his leadership, Century Group has redefined

financial services in the UAE, pioneering offerings

such as Century Private Wealth, a DIFC-based,

DFSA-regulated firm delivering bespoke asset and

wealth management solutions for HNW individuals.

Bijan Alizadehfard is General Partner and

Co-Founder of Cypher Capital, investing in

blockchain, digital assets, decentralized finance,

and fintech startups globally. Through Cypher

Capital, he supports early- and growth-stage companies,

partnering with founders to scale transformative

technologies shaping the future of finance. He

previously co-founded and served as CEO of Phoenix

Group PLC, strengthening its operations and strategic

vision, and later contributed as a board member

(2022–2024), guiding governance, long-term strategy,

and organizational oversight.

Bijan has also served on the board of Link Global

Technologies Inc, demonstrating his expertise

in corporate governance, risk management, and

strategic decision-making across public and private

companies. Throughout his career, he has

focused on high-growth, innovation-driven sectors,

combining entrepreneurship, investment acumen,

and operational leadership to guide businesses

through complex markets. His work continues

to shape the evolution of digital finance globally,

supporting scalable, sustainable growth and the

adoption of emerging financial technologies.


Dhananjay

Datar

Chairman & Managing Director

Adil Group

Dany

Farha

Co-Founder & Managing Partner

BECO Capital

Dany Farha is the Co-Founder and Managing

Partner of BECO Capital, a prominent

Gulf-focused institutional venture

capital firm established in 2012. BECO Capital

manages USD 820 million across five funds and

operates as a comprehensive venture platform,

supporting startups at every stage, from inception

to growth. The firm has marked significant

achievements, including two exits surpassing USD

1 billion, reinforcing its position as a leading player

in the regional venture capital ecosystem.

Dany Farha, with three decades in entrepreneurship

and investing, leads BECO Capital, supporting

founders with both capital and strategic guidance.

He has backed nearly 30 startups, including Kitopi,

Property Finder, and Careem, helping scale

them into regional benchmarks. Dany’s hands-on

approach and board-level engagement combine

entrepreneurial insight with investment expertise,

driving innovation and long-term growth

across the Middle East’s startup ecosystem. His

leadership emphasizes building resilient teams,

and through BECO Capital, Dany continues to

shape the region’s entrepreneurial landscape.

From helping in his father’s small grocery

shop in Dubai in 1984, Dr. Dhananjay Datar

has transformed a modest family business

into the renowned Adil Group. Dubbed the ‘Masala

King’ by UAE rulers in 2001, Datar’s journey exemplifies

how entrepreneurial vision, unwavering

dedication, and a commitment to societal contribution

can generate lasting impact. His influence

extends beyond the spice trade, reflecting both

sharp business acumen and a strong sense of

social responsibility. Through decades of perseverance,

innovation, and an acute understanding

of the market, Datar has positioned Adil Group as

a benchmark for excellence in the FMCG sector.

Datar combines business success with philanthropy,

supporting education, healthcare, and community

initiatives to uplift society. Under his leadership, Adil

Group operates 50 superstores across the Gulf, two

spice factories, two modern flour mills, and an import-export

company in India. Producing more than

700 items, the group delivers authentic, hygienic Indian

foods across the GCC. With a focus on innovation,

and market expansion Adil Group continues to set

benchmarks in the regional food and retail industry.


Highlights

Industry

Education

Only Multi-Curriculums

4

Number of Students

200k+

Total Employees

18,000

(Approx.

including

Qatar)

Dino Varkey


GEMS Education

Championing innovation, sustainability, and social impact

to shape the future of global education.

Dino Varkey has played a

pivotal role in leading and

strengthening GEMS Education

as one of the world’s most

respected and influential private

education groups. As Group CEO

of GEMS Education, Dino brings

an educator-first mindset rooted in

his family legacy, guiding a global

network of schools that spans

continents, cultures, and curricula.

Under his leadership, GEMS has

successfully balanced the scale

and complexity of a global education

network with a clear focus on

educational quality, operational excellence,

and long-term sustainability.

Today, GEMS Education is the

largest school operator in the UAE,

and extended presence across several

cultures and continents. Varkey

has overseen significant organisational

transformation, introducing

stronger governance, and closer

alignment across education, enrolments,

academic excellence, parent

and student experience. He has also

led geographic diversification and

expansion in the UAE, delivering

4.5% growth in student numbers over

the past 18 months, with further

growth planned to meet rising demand

driven by Dubai’s D33 agenda

and the nation’s broader economic

ambitions. He measures GEMS Education’s

success primarily in fulfilment

of its promise to parents and

students while building resilient, responsible

education systems for the

future. Varkey’s achievements reflect

his global impact on modernising

education and leading innovation.

“We’re scaling

responsibly

by combining

strong financial

performance

with academic

excellence and

future-ready

learning. For

us, sustainable

returns come

from delivering

to families and

building a resilient

global education

business.”


Fadi

Ghandour

Executive Chairman

Wamda Capital

Easa

Al Gurg


Easa Saleh Al Gurg Group

Easa Al Gurg is a prominent figure in the

UAE’s business landscape, widely recognised

for his visionary leadership as

Group CEO of Easa Saleh Al Gurg Group (ESAG).

Appointed to this pivotal role in May 2021, Al Gurg

has played a central role in guiding one of the

region’s oldest and most respected family businesses

through continued growth and modernisation,

building upon the enduring legacy established by

his grandfather, the late Easa Saleh Al Gurg.

Al Gurg’s vision for ESAG emphasises expansion

into new sectors and markets, fostering innovation

in customer engagement, promoting employee

ownership, and enhancing the group’s adaptability

in a rapidly changing business environment.

Beyond his corporate responsibilities, Al Gurg

actively contributes to the UAE’s wider economic

and philanthropic ecosystem. He serves on the

boards of the Dubai Chamber of Commerce and

the National Bank of Fujairah (NBF) while also

supporting charitable initiatives as a board member

of the Al Gurg Charity Foundation.His leadership

emphasises empowering future leaders and

promoting a culture of employee ownership.

Fadi Ghandour serves as Executive Chairman

of Wamda Group, a platform dedicated

to investing in, nurturing, and strengthening

entrepreneurial ecosystems across the

Middle East and North Africa. Through Wamda,

Ghandour plays a pivotal role in supporting startups,

guiding innovative ventures, and fostering

sustainable growth in a region increasingly

recognised for its entrepreneurial potential.

He is also the Founder of Aramex, a leading

global logistics company, where he spent the first

three decades of his career as CEO. A serial entrepreneur,

Ghandour has founded, invested in, and

helped launch numerous companies and non-profits

spanning digital technology, hospitality, fitness and

wellness, and security. His work reflects a consistent

focus on innovation, economic development,

and the empowerment of future business leaders.

Through decades of pioneering work in business

and social development, Fadi Ghandour has established

himself as a transformative figure in the MENA

region. His career exemplifies the power of vision,

purposeful leadership in shaping industries, communities,

and the next generation of entrepreneurs.


Dr. Joy Alukkas

Founder & Chairman,

Joyalukkas Group

Building a Global Legacy on the Foundation

of Trust & Joy

Dr. Joy Alukkas isn’t just a

name – it represents a promise

cherished by millions

across the world. As the visionary

Founder and Chairman of the

Joyalukkas Group, he has sculpted

a multibillion-dollar global empire

from a single jewellery showroom,

setting unparalleled benchmarks

in purity, innovation and heartfelt

customer trust. With a real-time

net worth of $5.2 billion and a

Forbes ranking as the 54th richest

Indian, his journey is a masterclass

in entrepreneurial spirit.

Over 39 pioneering years in the

UAE, Joy Alukkas has transformed

a cherished family legacy into a

worldwide phenomenon. Under his

leadership, Joyalukkas jewellery

now sparkles across 12 countries

through an iconic network of over

190 showrooms, from the USA and

UK to the heart of the GCC, India,

Singapore, Malaysia and Australia

- with exciting plans unfolding

for Canada and New Zealand.

His success is measured in more

than just stores. In FY 2023–24, the

Group achieved a remarkable turnover

of USD 3.3 billion, with a target

of USD 4.2 billion for FY 2024–25.

Yet, for the visionary, true ambition

lies ahead: a five-year vision to scale

Joyalukkas into a USD 7.2 billion

turnover global group. How does

he plan to get there? By staying

fiercely rooted in the core values

instilled by his father - trust, quality,

integrity and joy. These principles

are the bedrock of every decision,

every design and every customer

smile made the organisation.

Beyond jewellery, his strategic

foray into diversified ventures

- Joyalukkas Money Exchange,

Lifestyle Developers and Jolly

Silks - has fortified the Group’s

resilience, creating a dynamic,

future-ready conglomerate.

At the heart of this global story

is a deeply devoted family man.

Supported by his wife, Jolly, he

takes immense pride in his children

- John Paul, Mary and Elsa - who

are also actively working to shape

the Group’s future, alongside his

daughter-in-law Sonia and sonsin-law

Antony Jos and Thomas

Mathew. Through the Joyalukkas

Foundation, he drives a powerful

humanitarian mission, positively

impacting millions of lives. Today,

Dr. Joy Alukkas stands as a luminous

example of what happens

when visionary ambition is matched

with unwavering integrity. His

journey reminds us that the most

enduring legacies are built not just

with gold, but with genuine trust.

Our journey began

with a single, powerful

idea - to build a brand

that families could trust

for generations. While

we are aggressively

expanding into new

markets like Canada and

Australia and targeting

a turnover of USD 7.2

billion, our strategy

remains firmly anchored

in the values of trust,

quality and integrity.

For us, true growth is

not just measured in

scale, but in the joy and

confidence we bring to

millions of customers

worldwide.”


Highlights

Industry

Jewellery, Fashion, Retail

Total Assets

5.2 Billion


12

Total Employees

10,000


Highlights

Industry

Telecom

Established In

2005


100+

Total Employees

6000+

Fahad Al Hassawi


du

Reshaping Dubai real estate through innovation, highvalue

transactions, and market leadership.

Fahad Al Hassawi serves as

the Group Chief Executive

Officer of Emirates Integrated

Telecommunications Company (EI-

TC), widely known as du, a leading

provider of telecom and digital

services in the UAE. An Emirati

executive with over two decades

of industry experience, Al Hassawi

has played a pivotal role in du’s

strategic transformation, guiding

the company beyond traditional

connectivity into a comprehensive

digital services and technology

platform. His leadership reflects a

clear vision of integrating advanced

technologies to meet the evolving

needs of businesses, government

entities, and consumers alike.

Under Al Hassawi’s leadership, du

has strengthened its position as a

digital lifestyle and connectivity enabler,

achieving near-nationwide 5G

and 5G+ coverage while accelerating

investments in AI, cloud infrastructure,

and enterprise digital solutions.

These efforts position du as a trusted

partner in the UAE’s digital transformation,

supporting smart cities,

digital government, and next-generation

industries. He prioritises talent

development through Emiratisation

and future-ready skills initiatives

such as du’s Certified Digital Talent

programme, while advancing AI

infrastructure, hyperscale data

centre partnerships, and cloud-native

platforms. Through strategic

vision and operational excellence,

he continues to position du at the

forefront of the UAE’s digital economy

and a catalyst for innovation.

du’s strategic

expansion into

5G, AI, and cloud

solutions highlights

Fahad Al Hassawi’s

approach to

integrating

technology with

long-term value

creation and

national digital

priorities.”


Ghassan

Aboud

Founder & Chairman

Ghassan Aboud Group (GAG)

Ghaith

Al Ghaith


flydubai

Ghaith Al Ghaith is a distinguished Emirati

business leader and the Chief Executive Officer

(CEO) of flydubai, a position he has held

since being appointed to launch the airline in 2008.

Under the leadership of Al Ghaith, flydubai has

delivered strong growth and strategic expansion.

In 2024, the airline reported $3.5 billion in revenue

and $674 million in profit before tax, carrying

15.4 million passengers, an 11% increase year-onyear.

A major milestone was the recent opening

of its 38,000-square-foot Flight Training Centre,

a multimillion-dollar facility featuring six simulator

bays with capacity for more than 43,000

training hours annually. Designed for future expansion,

it currently houses four simulators, with

two more to be installed by the end of 2026.

The airline has also strengthened its fleet strategy,

signing MoUs for 150 Airbus A321neo aircraft

and 75 Boeing 737 MAX aircraft, while partnering

with SpaceX to introduce Starlink connectivity

across its fleet. Through investments in

modern aircraft, advanced training, and digital

innovation, Al Ghaith continues to position flydubai

for sustained regional and global growth.

Ghassan Aboud is a Dubai-based international

entrepreneur and philanthropist, known for

building one of the region’s most dynamic

and diversified business groups. He founded Ghassan

Aboud Holding in 1994 as a small automotive

trading venture. Today, he serves as a Founder

and Chairman of Ghassan Aboud Holding, a global

conglomerate operating across the UAE, Australia,

and Belgium, spanning automotive, logistics, hospitality,

retail, food, healthcare, and digital marketplaces.

Under his leadership, the Group has become

a leading automotive supply chain serving over 100

countries and has expanded its mobility ecosystem

through Gallega Global Logistics, OK Mobility UAE,

and major global brand partnerships. His portfolio

includes Crystalbrook Collection hotels, Grandiose

Supermarkets and Catering, Flour Country, Olive

Country, Gaelan Medical, and BuyParts24. A committed

humanitarian, he founded Orient Humanitarian

to support refugees and vulnerable communities

through medical aid, education, and essential relief.

Guided by innovation, impact, and purpose, his work

continues to shape industries while uplifting communities

worldwide, sustainably and responsibly.


Highlights

Industry

Aviation

Revenue

AED 75.4B

Cash Assets

AED 56.0B

Total Employees

124,000+

(As of

first six

months of

2025-26)

H.H. Sheikh Ahmed bin Saeed Al Maktoum

CEO & Chairman,

Emirates Group

Shaping world-class aviation and logistics infrastructure

with long-term vision and disciplined execution.

H.H. Sheikh Ahmed bin Saeed

Al Maktoum, Chairman and

Chief Executive of Emirates

Airline and Group, has been instrumental

in shaping Dubai’s ascent as

a global aviation and business powerhouse

for nearly four decades. His

leadership journey began in 1985,

when he was appointed President

of the Dubai Department of Civil

Aviation, coinciding with his role as

Chairman of the newly established

Emirates Airline. At the time, the

airline operated with just two leased

aircraft. Today, Emirates stands

among the world’s most influential

aviation groups, a transformation

driven by Sheikh Ahmed’s longterm

vision, and unwavering focus

on sustainable growth. That vision

continues to deliver strong results.

For the first half of 2025–26, the

Emirates Group reported a record

profit before tax of AED 12.2 billion,

marking its fourth consecutive year

of half-year record profitability. The

Group also posted a solid EBITDA

of AED 21.1 billion up 3% year-onyear.

Financial strength remains

central to its strategy, with a record

cash position of AED 56.0 billion

as of 2025. Operationally, Emirates

continues to expand its global

footprint, serving 152 destinations

across 79 countries and territories.

Beyond the airline, as President

of the Dubai Civil Aviation

Authority and Chairman of Dubai

Airports, Sheikh Ahmed continues

to drive Dubai’s aviation, as

one of the world’s most influential

leaders in global aviation.

The Group’s strong

profitability enables

us to continue

making these

investments, and

to scale up our

proven business

models in concert

with Dubai’s growth

as a global city of

choice for talent, for

businesses, and for

tourists.”


Highlights

Industry

PropTech

Established In

2008


5+

Total Employees

1000+

Haider Ali Khan

Chief Executive Officer,

Bayut and dubizzle | Dubizzle Group MENA

Real estate is

evolving quickly,

and PropTech is

the engine behind

that shift. Our role

as a market leader

is not just to keep

up, but to set the

pace, by building AIpowered,

data-led

experiences that

raise the standard

for transparency

and performance.”

Driving digital innovation and transparency to reshape

the future of property marketplaces in the region.

Haider Ali Khan is a visionary

technology leader and

business strategist, serving

as the Chief Executive Officer of

Bayut and dubizzle, as well as CEO

of Dubizzle Group MENA. Under his

decade-long leadership, Bayut has

transformed from a local property

start-up into one of the Middle

East’s most trusted and innovative

PropTech platforms. The company

has introduced data-driven tools

such as TruCheck, TruEstimate,

and BayutGPT, reshaping transparency

and efficiency in real estate

transactions across the region.

Haider’s career began in the

United States, where he earned a

degree in electrical engineering

from the University of Texas at

Austin and amassed over a decade of

experience with global companies,

including Goldman Sachs, Silicon

Labs, and National Instruments. In

2014, he relocated to Dubai to lead

Bayut full-time, driving its growth

and market expansion with a strategic,

technology-first vision.

His leadership has been pivotal in

integrating Bayut with dubizzle,

the MENA region’s largest online

classifieds platform, evolving the

group into a unicorn-valued digital

ecosystem that engages millions

of users. Haider’s approach emphasises

innovation, operational

excellence, and customer-centric

solutions, positioning the group

at the forefront of digital property

and classifieds marketplaces. His

leadership continues to influence

the future of PropTech industry.


Huda

Kattan

Founder & Co-CEO

Huda Beauty

Hakan

Ikizoglu

Founder & Chairman

CargoCrew Group

Hakan Ikizoglu is the Founder and Chairman

of the CargoCrew Group, leading its strategy,

growth, and global expansion across air

cargo and logistics markets. With over two decades

of experience, his leadership is grounded in deep

operational understanding and disciplined execution.

His career began on the operational front lines of

the cargo industry, a foundation that continues

to shape his leadership approach. This hands-on

experience evolved into commercial leadership

and, ultimately, into building and scaling businesses

across regions, allowing him to align strategy

closely with execution and long-term value creation.

A significant milestone in CargoCrew’s growth

has been the launch of its Middle East regional

headquarters in Dubai, reflecting both the UAE’s

position as a global logistics hub and the Group’s

international ambitions. Known for a decisive and

relationship-driven leadership style, Hakan Ikizoglu

remains focused on building resilient businesses

that deliver lasting value, positioning CargoCrew

as a future-ready platform for global trade and

further reinforcing his standing as an influential

leader in the air cargo and logistics sector.

Huda Kattan is the founder and Co-CEO of Huda

Beauty, a globally recognised beauty brand

built on self-expression, empowerment, and

authenticity. She is widely regarded as one of the

pioneers of influencer-led beauty brands, having

redefined how digital influence can translate into

commercial success and community-driven growth.

In 2013, Kattan launched Huda Beauty with a

US$6,000 loan from her sister, Alya Kattan. The

brand debuted with a range of viral false eyelashes

sold exclusively at Sephora in The Dubai Mall, now

the retailer’s number one store globally. The launch

marked a turning point for the beauty industry, as

Huda became one of the first influencers to successfully

establish a beauty brand within Sephora,

at a time when influencer brands were yet to exist.

Over time, Huda Beauty grew into one of Sephora’s

top-performing brands worldwide. Often referred to

as the internet’s “big beauty sister,” Kattan leads the

most-followed beauty brand on Instagram, with nearly

57.4+ million followers. Her YouTube channel has

over 4.3+ million subscribers, while her TikTok audience

stands at 10.7 million. engagement, she continues

to inspire and empower beauty lovers worldwide.


Highlights

Industry

Banking

Established In

2017


20+

Total Employees

1,001 - 5,000

Hana Al Rostamani


First Abu Dhabi Bank (FAB)

We [FAB] have

always been

committed

to putting the

customer first, they

are our inspiration.

We understand

their needs and

then we cater

for these needs,

and provide the

right product and

services”

Steering the future of finance through digital innovation,

trust, and inclusive leadership.

Hana Al Rostamani is widely

regarded as one of the

Middle East’s most influential

banking leaders and a trailblazer

for women in finance. As

Group CEO of First Abu Dhabi Bank

(FAB), the UAE’s largest bank and

a pivotal financial institution in

the region, she directs strategy at

a time when technology, customer

expectations, and global economic

forces are evolving rapidly.

Her career in banking has been

defined by an ability to turn complex

financial insights into actionable

foresight. Before assuming the role

of CEO, she held senior executive

positions within the bank, guiding

its transformation from a traditional

institution into a highly digital,

AI-driven financial powerhouse.

These experiences cemented her

reputation as a leader who combines

innovation with stability,

achieving growth while maintaining

a strong focus on trust, governance,

and prudent management.

As a prominent Emirati woman

in a traditionally male-dominated

industry, she exemplifies what is

possible, leading with clarity, empathy,

and a collaborative approach

that encourages teams to think

boldly while upholding integrity.

Through FAB, she supports entrepreneurship,

sustainable finance,

green bonds, and programs empowering

youth and social progress.

Rostamani embodies the new era of

Middle Eastern finance, driven by

digital innovation, global connectivity,

and a stronger role for women.


Highlights

Industry

Real Estate

Established In

1972


UAE

Total Employees

51 - 200

Haleema Humaid Al Owais


Sultan bin Ali Al Owais Real Estate

Guiding the growth and transformation of a leading UAE

real estate enterprise.

Haleema Humaid Al Owais is

a distinguished Emirati business

leader and entrepreneur

whose career spans real estate, governance,

and strategic business development.

She currently serves as

CEO of Sultan Bin Ali Al Owais Real

Estate, leading a diversified group

engaged in property development,

construction, and asset management

across the UAE. In addition,

she holds influential governance

positions as Vice Chairwoman of the

Sharjah Consultative Council and as

a Board Member of both the Sharjah

Chamber of Commerce and Invest-

Bank, reflecting her pivotal role in

shaping business and policy frameworks

in the region. Her leadership

journey was catalysed at a young

age when she assumed responsibility

for the family business following the

passing of her father. With no prior

formal experience in real estate, Haleema

confronted the dual challenges

of navigating a complex industry

and breaking through a traditionally

male-dominated sector. Through

resilience, continuous learning, and

strategic vision, she successfully

transformed the family enterprise,

stabilising operations and expanding

the group into one of the UAE’s

notable real estate enterprises

with a portfolio spanning multiple

Emirates. Beyond corporate growth,

Haleema is a strong advocate for

professional development, and community

engagement. She supports

initiatives that promote sustainable

business practices, demonstrating a

commitment to long-term impact.

“Haleema Humaid

Al Owais’ career

reflects a blend of

entrepreneurial

leadership, public

service, and a

commitment to

shaping the future

of business in the

UAE.”


Highlights

Industry

FinTech

Established In

2019


3

Total Employees

500 - 1000

Hosam Arab

Co-Founder & CEO,

Tabby

Tabby’s rapid

evolution reflects

Hosam Arab’s

vision of leveraging

technology to

deliver accessible,

reliable, and

customer-centric

financial services

across the Middle

East.”

Driving financial inclusion and innovation to transform

the region’s payments landscape.

Hosam Arab is a dynamic

entrepreneur and the

co-founder and CEO of

Tabby, a fast-growing financial

technology company that is reshaping

the payments landscape in the

Middle East. Since its establishment

in 2019, Tabby has become

a leading player in the region’s

buy-now-pay-later (BNPL) sector,

offering consumers flexible, interest-free

installment options that

empower millions with convenient,

responsible, and accessible financial

services. Under Arab’s leadership,

Tabby has rapidly evolved from a

start-up into a trusted fintech brand,

known for its innovation, reliability,

and customer-centric approach.

Before founding Tabby, Arab

accumulated extensive experience

in the technology and financial

sectors, holding pivotal roles

at Careem, the region’s largest

ride-hailing platform, and Souq.com,

the Middle East’s premier e-commerce

marketplace, later acquired

by Amazon. These roles provided

him with deep insights into digital

platforms, consumer behaviour, and

market dynamics across the GCC,

equipping him with the expertise

to drive Tabby’s accelerated

growth and strategic expansion.

Arab is a strong advocate for

leveraging technology to improve

financial inclusion and enhance

the customer experience. Through

his vision, he continues to transform

the region’s economy, making

Tabby a cornerstone of the Middle

East evolving financial landscape.


Jamil

Ahmed

Founder & Managing Director

PRIME Healthcare Group

Hussain

Al Nowais

Chairman

AlNowais Investments

Hussain Al Nowais is a UAE-based industrialist

and business strategist, and the

founding member and Chairman of AL-

NOWAIS Investments, an Abu Dhabi-headquartered

investment group. He drives the company’s global

expansion initiatives and oversees strategic project

development across sectors, including energy,

industry, infrastructure, hospitality, and real estate.

Al Nowais has over 30 years of international experience

spanning banking, financial services, investments,

heavy industries, petrochemicals, industrial

development, infrastructure, public-private partnerships,

project finance, hospitality, and real estate.

A UAE national born in Abu Dhabi, Al Nowais

holds a Bachelor of Science in Business Finance

from Lewis & Clark College in Portland,

Oregon, USA. He has also completed executive

management programmes at INSEAD and London

Business School, further strengthening his

strategic and leadership capabilities. His extensive

experience, combined with his deep understanding

of both regional and global markets,

has established him as a prominent figure in the

UAE’s business and investment landscape.

Dr. Jamil Ahmed is the Founder and Chairman

of PRIME Healthcare Group, a UAEbased

healthcare organisation established

in 1999 with the launch of PRIME Medical Centre.

Under his leadership, the group has expanded into

a diversified healthcare network comprising hospitals,

medical centres and pharmacies, serving a

large and growing patient base across the UAE.

Dr. Ahmed is an Orthopaedic Surgeon by training

and brings extensive clinical and operational

experience to his leadership role. He completed

his MBBS and MS in Orthopaedic Surgery at recognised

medical institutions in India and subsequently

undertook a Fellowship in Trauma and

Reconstructive Surgery in Germany. Before founding

PRIME, he worked across healthcare institutions in

the UAE, India and Germany, gaining broad exposure

to hospital operations and clinical systems.

Under his stewardship, PRIME Healthcare Group

has established governance structures and clinical

processes aligned with international healthcare

standards. The organisation has received multiple

accreditations and recognitions, including

JCI and ACHSI accreditations and many more.


Highlights

Industry

Real Estate

Established In

1982

Cities Operating In

15+

Total Employees

10,000+

Hussain Sajwani

Founder,

The DAMAC Group of Companies

Our story runs

in tandem with

the uae’s vision

to becoming the

world’s foremost

trade, hospitality

and lifestyle

destination.”

Redefining luxury real estate and urban landscapes while

driving impactful social initiatives.

Hussain Sajwani is one of the

most prominent figures in

global real estate, a selfmade

entrepreneur whose vision

has played a significant role in

shaping Dubai’s modern skyline. As

the founder and Chairman of global

property development company, DA-

MAC Properties and founder of The

DAMAC Group of Companies, he has

built a brand closely associated with

luxury living, distinctive architecture

and large-scale developments that

command international attention.

His professional journey began

in the hospitality and food services

sector, where he developed a strong

foundation in customer focus,

financial discipline and decisive

leadership. When Dubai opened its

property market to international

investors, Sajwani moved quickly,

identifying the long-term potential

of the emirate and envisioning a destination

designed to attract global

residents, investors and visitors.

Alongside his business pursuits,

Sajwani is actively engaged

in philanthropic initiatives, supporting

education, housing and

social development programmes

aimed at improving lives and

strengthening communities.

Hussain Sajwani believes success

carries a responsibility to

society, and his lasting impact

reshapes city skylines and the

real estate industry. He continues

to explore new opportunities,

guided by the belief that ambition

should remain constant and progress

should never stand still.


Highlights

Industry

Real Estate

Established In

1996


UAE

Total Employees

500 - 1000

Imran Farooq

Founder & CEO,

Samana Developers

Transforming residential living through lifestyle-focused,

innovative, and accessible real estate developments.

Imran Farooq is the Founder and

Chief Executive Officer of Samana

Developers, one of Dubai’s

fastest-growing private real estate

development companies and an integral

part of the Samana Group. He

is widely regarded for his entrepreneurial

acumen and for introducing

lifestyle-led residential concepts

that have added a fresh dimension

to the UAE’s property market.

Originally from Pakistan, Farooq

developed a strong business foundation

through years of hands-on

entrepreneurial experience before

moving into real estate. He

established the Samana Group as

a diversified conglomerate with

operations spanning corporate

services, business centres, immigration

solutions and investments.

This formative phase strengthened

his market insight, financial

discipline and readiness to pursue

larger, long-term ventures.

In 2014, Farooq founded Samana

Developers with a clear vision to

deliver homes that balance affordability

with features typically

associated with luxury developments.

Through disciplined financial

management and strategic planning,

Samana Developers has scaled its

operations, earning strong market

demand and repeat investor trust.

Today, Imran continues to steer Samana

Developers along an ambitious

growth trajectory, contributing to

the evolution of Dubai’s residential

landscape and establishing the

brand as a leading name in modern,

experience-driven community living.

Under Imran

Farooq’s

leadership, Samana

Developers has

introduced lifestyleled

residential

concepts that

combine quality,

affordability, and

innovation, shaping

Dubai’s modern

property market.”


John

Iossifidis


Al Ghurair Group

John

Hadden


Alshaya Group

John Iossifidis serves as Group Chief Executive

Officer of Al Ghurair, one of the

Middle East’s most established and diversified

family-owned business groups. Under his

leadership, Al Ghurair is focused on disciplined

expansion, operational excellence, and building

resilient businesses that contribute meaningfully

to the region’s economic development.

Before joining Al Ghurair, Iossifidis was CEO of

Noor Bank, where he led a comprehensive transformation

programme that resulted in a doubling of

shareholder value within just two years. His tenure

was marked by a strong emphasis on strategic clarity,

cultural alignment, and performance-driven execution.

With over 35 years of experience in banking

and leadership roles across Australia, Singapore, and

the UAE, John brings a global perspective combined

with deep regional insight. He is widely recognised

for his purpose-led approach to leadership, focusing

on empowering teams, fostering collaboration, and

creating organisations that deliver value beyond

financial performance. His commitment continues

to inspire leaders to balance ambition with impact.

John Hadden has served as Chief Executive

Officer of Alshaya Group since 2020,

following his role as Chief Operating Officer.

Since assuming the role, Hadden has been

leading a group-wide transformation programme

focused on strengthening Alshaya’s position

as a fully integrated omnichannel retailer.

Hadden’s leadership is underpinned by a strong

academic foundation. He holds a Master’s degree

in Project Management from the University

of Reading, alongside a Bachelor’s degree in the

same discipline from Woolmer Hill School. He

is also a member of the Chartered Institute of

Building, reinforcing his professional expertise

in large-scale property development, infrastructure

planning and operational governance.

Having joined Alshaya Group in 1997 as Property

Director, Hadden has played a central role in

the development and management of the group’s

retail and real estate assets. He progressed

through senior leadership roles over more than

two decades, this continuity of leadership has

been instrumental in maintaining operational

stability while driving strategic transformation.


Khalid

Al Tayer


Ounass

Kabir

Mulchandani

CEO & Chairman

FIVE Holdings

Kabir Mulchandani is the Founder, Chairman

and Chief Executive Officer of Dubai-based

FIVE Holdings, a real estate and hospitality

group best known for its luxury lifestyle hotels,

resorts and entertainment-led destinations

across the Middle East and Europe. Established

in 2011, the company has grown into a distinctive

global brand, blending high-energy nightlife,

premium hospitality and design-driven real estate

under a single operating model. Mulchandani is

preparing to take FIVE Holdings public on the

Dubai stock exchange in 2025, marking a significant

milestone in the company’s growth journey.

Under his leadership, FIVE’s flagship properties in

Dubai have consistently delivered strong occupancy

rates and revenue performance, positioning the

brand as a disruptive force within the luxury hospitality

segment. The group also maintains a presence

in Switzerland and continues to explore new markets.

Mulchandani is recognised for his data-driven

leadership style, through FIVE Holdings, he continues

to shape a new model of experience-led hospitality

with global reach and commercial resilience.

Khalid Al Tayer has built a distinguished career

at the intersection of luxury retail, digital

commerce, and strategic leadership, underpinned

by more than two decades of experience

across the UAE’s corporate and financial landscape.

He currently serves as Chief Executive Officer of

Ounass, a position he has held since 2020, where he

has been instrumental in scaling the platform as one

of the region’s leading luxury e-commerce destinations.

Beyond executive roles, Khalid is an active board

member, currently serving on the boards of Taaleem,

the Dubai Chamber of Digital Economy,

the Intercontinental Group of Department Stores,

the Fashion Commission at the Saudi Ministry of

Culture, and the Retail Business Group at Dubai

Chamber. He also served as a Board Member of the

Central Bank of the UAE until April 2021. Earlier in

his career, Khalid worked as a Junior Associate at

McKinsey & Co., Assistant Vice President at Emirates

Financial Services, and co-founded the internet

start-up Makook. He holds a Bachelor of Science

in Entrepreneurship, Corporate Finance, and Economics

from Babson College, graduating in 1999.


Lewis

Allsopp

Co-Founder and Chairman

Allsopp & Allsopp

KP

Basheer

Founder & Chairman

Nesto Group

K.P. Basheer is the Founder and Chairman

of Western International Group, a

Dubai-headquartered global conglomerate

with diversified business interests spanning retail,

electronics, fashion, e-commerce, household

goods, and food services. His entrepreneurial

journey began in 1986 with the establishment of

Gift Palace in Bahrain, which laid the foundation

for what would become a global enterprise.

Under Basheer’s leadership, Western International

Group has expanded across multiple sectors, with

Nesto Group as a flagship, operating 85 supermarkets

across the GCC and India. The group’s portfolio

includes brands like Geepas, spanning electronics,

fashion, retail, footwear, travel accessories, and

restaurants, with products sold in over 90 countries.

Employing over 35,000 people across 12 countries,

the group combines entrepreneurial vision

with strategic diversification. Basheer has transformed

a single retail outlet into a global business

empire, creating accessible, innovative, and quality-driven

ventures that position Western International

Group as a leading force in lifestyle, retail,

and consumer goods across multiple regions.

Lewis Allsopp is the Co-Founder and Chairman

of Allsopp & Allsopp, one of Dubai’s

leading independent real-estate brokerages.

Originally from Coventry, UK, his early

career in frontline sales roles instilled the resilience,

negotiation skills, and customer focus that

would later define his leadership approach.

He moved to Dubai at 19, recognising the scale

of opportunity in a rapidly expanding property

market. In 2008, he co-founded Allsopp & Allsopp

with his brother Carl, decision that laid the foundation

for what would become a multi-office firm

employing hundreds of professionals. Today, the

company is known for its structured operations and

strong presence across residential, commercial, and

off-plan sectors. Under his leadership, the firm has

expanded beyond brokerage, into property management,

mortgage services, and short-term rentals. The

launch of a dedicated Private Office for high-networth

clients has strengthened its position in Dubai’s

ultra-luxury market. From modest UK beginnings

to leading a multi-award-winning real estate enterprise,

Lewis Allsopp has grown alongside and

helped shape Dubai’s evolving property landscape.


Khaldoon Khalifa Al Mubarak

Group CEO & Managing Director,

Mubadala Investment Company

Transforming investment and innovation landscapes

while promoting diplomacy, and long-term growth.

Khaldoon Al Mubarak, Group

CEO and Managing Director

of Mubadala Investment

Company, is widely recognised

as one of the Middle East’s most

influential and globally connected

business leaders, seamlessly

bridging sovereign investment

leadership with high-level public

policy and international diplomacy.

A trusted architect of Abu Dhabi’s

long-term economic vision, he has

been instrumental in advancing the

emirate’s diversification agenda,

positioning it as a resilient, innovation-led

global investment hub.

Al Mubarak has served on the Abu

Dhabi Executive Council since 2006

and is a member of the Abu Dhabi

Supreme Council for Financial

and Economic Affairs, where he

plays a key role in shaping fiscal

discipline, industrial strategy and

future-ready economic frameworks.

His leadership extends strongly

into advanced technology, sustainability

and innovation-driven

policymaking. In 2024, Al Mubarak

became a founding member of the

Artificial Intelligence and Advanced

Technology Council, reinforcing

Abu Dhabi’s ambition to lead globally

in AI, data-driven industries

and emerging technologies. That

same year, he was appointed Vice

Chair of the Mohammed bin Zayed

Water Initiative, reflecting a strategic

focus on water security and

climate resilience, while continuing

his long-standing involvement

with the Abu Dhabi Advanced

Technology Research Council.

Collectively, these roles underline

his commitment to aligning capital,

research and policy to deliver

measurable national impact.

Internationally, Al Mubarak has

played a pivotal role in strengthening

economic diplomacy and

cross-border collaboration. He

co-founded the US-UAE Business

Council and the UAE-France

Strategic Dialogue, platforms that

have deepened bilateral trade,

investment and innovation partnerships.

He also co-chairs the

Abu Dhabi-Singapore Joint Forum,

supporting long-term cooperation

between two globally significant

financial and commercial hubs.

Under Al Mubarak’s visionary

and transformative leadership,

Mubadala has become a globally

respected and influential sovereign

investor, growing its assets

to AED 1.21tn (USD 330bn) in

2024, delivering top-quartile performance,

and building a diversified,

strategic portfolio across 50+

countries and key global sectors.

Khaldoon Al Mubarak’s

tenure reflects a focus

on diversification,

technology, and

sustainability,

positioning Mubadala

as a strategic driver

of national and

international economic

impact.”


Highlights

Industry

Global Investment

Established In

2017


UAE

Total Employees

2000+


Khalid Bin Kalban

Vice Chairman & Chief Executive Officer,

Dubai Investments

Driving long-term growth and diversification across

investment, finance, and real estate.

Khalid Bin Bin Kalban is the

Vice Chairman and Chief

Executive Officer (CEO) of

Dubai Investments PJSC, a leading

investment company listed on the

Dubai Financial Market. Having

led the organisation for over 27

years, he has played a central role

in shaping Dubai Investments into a

diversified investment group with a

strong footprint across the UAE and

the wider region. Under his stewardship,

the company has evolved from

a primarily industrial-focused entity

into a multi-sector conglomerate

with interests spanning investment,

financial services, insurance, real estate,

manufacturing, and education.

Over the years, Dubai Investments

has established a reputation

for sustainable growth, driven by a

mix of wholly owned subsidiaries

and strategic joint ventures across

core economic sectors. He began

his professional career at the UAE

Central Bank in Abu Dhabi in 1983,

gaining early exposure to monetary

policy, regulatory frameworks, and

the regional financial system. He

later served as General Manager and

Director of Al Khaleej Investment

Singapore PTE from 1992 to 1995,

and continued as Vice Chairman

until 2002, further strengthening his

international investment and asset

management experience. Between

1998 and 2017, Kalban held senior

leadership roles in the insurance

sector. His banking experience

includes serving as a Board Director

of Emirates NBD and Chairman of

Emirates Islamic Bank. He served

on the boards of the Islamic Bank of

Singapore and Ajman Bank as well.

Beyond Dubai Investments,

Kalban continues to hold several influential

leadership positions. He is

the Chairman of Al Mal Capital PSC

and serves as a Board Director of

National General Insurance Company

(NGI), Arcapita Group in Bahrain,

and Africa Crest Education (ACE)

Holding Co. These roles underscore

his broad experience across asset

management, private equity, and

more, as well as his ability to operate

effectively across diverse regulatory

and economic environments.

Kalban holds an Associate Degree

in Business Management from

Arapahoe Community College,

USA, and a Bachelor of Science in

Management from Metropolitan

State College, USA. His leadership

style is characterised by strategic

foresight, and sectoral depth,

positioning him as one of the UAE’s

most influential business leaders

with a lasting impact on the region’s

investment landscape.

Khalid Bin Kalban’s

tenure reflects a focus

on long-term value

creation, sectoral

expertise, and

disciplined investment,

positioning Dubai

Investments as a leading

force in the region’s

economic landscape.”


Highlights

Industry

Investments

Total Assets

AED 23.6B


UAE

Total Employees

(As of Sep

30 2025)

501 – 1,000


M.A. Yusuff Ali

Chairman & Managing Director,

Lulu Group

Redefined regional retail, creating a global business

footprint and legacy.

M.A. Yusuff Ali is the Chairman

and Managing Director

of LuLu Group International,

one of the Middle East’s largest

and most diversified retail-led

conglomerates. Widely regarded as

a leading figure in regional retail,

he presides over LuLu Retail, which

generated USD 7.3 billion in revenue

and operates 240 hypermarkets

and shopping malls across the

Gulf and international markets.

Born in Kerala, southern India,

Yusuff Ali relocated to Abu Dhabi

in 1973, where he joined his uncle’s

small distribution business. Over the

following decades, he transformed

the enterprise into a global retail

powerhouse, anchored by large-format

hypermarkets and integrated

shopping destinations serving diverse,

multi-ethnic consumer bases.

In 2024, Yusuff Ali led the landIn

2024, Yusuff Ali led the landmark

listing of LuLu Retail Holdings on

the Abu Dhabi Securities Exchange,

raising USD 1.7 billion in one of

the UAE’s largest private-sector

IPOs and marking a pivotal step in

the Group’s evolution as a publicly

listed, growth-oriented regional

champion. Today, LuLu Group

employs more than 75,000 people

representing 46 nationalities and

operates an extensive retail and

logistics network spanning the UAE,

the wider GCC, Asia, Europe, Africa,

and North America, with annual

global turnover estimated at approximately

USD 8 billion. Beyond retail,

Yusuff Ali maintains a diversified

investment portfolio across infrastructure

and hospitality, including a

minority stake and board position at

Cochin International Airport, internationally

recognised as the world’s

first fully solar-powered airport, as

well as ownership of iconic hospitality

assets such as the Waldorf

Astoria Edinburgh – The Caledonian

and London’s Great Scotland Yard

Hotel, the former headquarters

of the UK Metropolitan Police.

He has also played an influential

role in regional business governance,

having served multiple terms

on the board of the Abu Dhabi

Chamber of Commerce and Industry,

including as Second Vice Chairman,

while remaining actively engaged in

philanthropic and social initiatives

across the Middle East, India, and

other regions. Overall, Yusuff Ali

exemplifies entrepreneurial vision

and long-term institution building,

combining global scale with disciplined

growth. Through the public

listing of LuLu Retail, he has built

a business legacy defined by accountability,

resilience, and impact.

Under M.A. Yusuff

Ali’s leadership, LuLu

Group has grown into a

globally diversified retail

powerhouse, combining

strategic expansion,

disciplined growth, and

a focus on long-term

value creation.”


Highlights

Industry

Retail

Established In

2000


20+

Total Employees

65,000+


Mahdi

Amjad

Founder & Executive Chairman

OMNIYAT

Maaz

Sheikh

Co-Founder & CEO

STARZPLAY

Maaz Sheikh is widely regarded as one of

the pioneers of the streaming revolution

in the Middle East, a leader who recognised

early that entertainment would move away

from scheduled television towards personalised,

on-demand viewing. As Co-founder and Chief

Executive Officer of STARZPLAY, he has played a

central role in reshaping how millions of viewers

across the region access movies, television series

and live sports, building one of the Middle East’s

most successful subscription video platforms.

Sheikh pursued an engineering education before

transitioning into telecommunications and digital

services. In 2015, he co-founded STARZPLAY with a

clear and ambitious mission: to deliver global-quality

streaming experiences to the Middle East while

adapting to local tastes, infrastructure and market

realities. Launching a subscription platform in a

region challenged by piracy and inconsistent internet

speeds required both conviction and innovation.

However, Sheikh’s has positioned STARZPLAY as a

platform that successfully balanced international

blockbusters with Arabic originals and premium live

sports content, including major regional events.

Mahdi Amjad is the Founder and Executive

Chairman of OMNIYAT, a visionary shaping

Dubai’s luxury real estate landscape.

Since 2005, he has delivered iconic projects such

as The Opus, One at Palm Jumeirah, and The Lana

– Dorchester Collection, blending architectural

innovation, refined craftsmanship, and elevated

living experiences. Guided by his philosophy,

“The Art of Elevation,” Amjad collaborates with

world-class designers, architects, and hospitality

brands to create ultra-luxury developments that

set new benchmarks in design and lifestyle. Under

his leadership, OMNIYAT has become synonymous

with exclusivity, investment strength, and timeless

appeal, leaving an enduring mark on Dubai’s skyline

and solidifying the city’s global reputation as a

hub for sophisticated, future-focused luxury living.

Amjad’s vision extends beyond buildings; he strives

to shape experiences and communities that inspire

and elevate daily life. His projects attract discerning

investors and homeowners worldwide, reflecting a

seamless balance of artistry, innovation, and functionality.

Through OMNIYAT, he continues to define

the future of luxury living in Dubai and beyond.


Mark

Chahwan

Co-Founder & Group CEO

Sarwa

Majid

Jafar

CEO & Vice Chairman

Crescent Petroleum & Crescent Group

Majid Jafar is the Chief Executive Officer

of Crescent Petroleum, the Middle East’s

oldest privately held energy company,

headquartered in Sharjah. Under his leadership,

Crescent Group has been instrumental in shaping

regional energy development, with a strong focus

on oil and gas exploration and production across

markets including Iraq and Egypt. In collaboration

with sister company Dana Gas, where he also serves

as Managing Director, the group has invested more

than USD 1B in the Kurdistan Region’s energy sector,

reinforcing long-term energy security regional economic

development. Beyond his executive responsibilities,

Jafar serves as Vice Chairman of Crescent

Group, the diversified holding company founded by

his father, Hamid Jafar. In addition, he is the Founder

of the Arab Stabilisation Plan, which mobilises

private-sector leadership to enhance economic resilience

in the Middle East, and serves as Chairman

of the Middle East–North Africa Business Council,

promoting cross-border cooperation and private-sector

engagement. Majid Jafar holds degrees from

the University of Cambridge, SOAS University of

London, and an MBA from Harvard Business School.

Mark Chahwan, Co-Founder and Group

Chief Executive Officer of Sarwa, represents

a new generation of financial

technology leadership shaping the Middle East’s

personal finance and investment landscape. Since

co-founding Sarwa, he has played a central role in

building the UAE-based platform into a trusted,

one-stop destination for individuals seeking simplified,

technology-led access to investing, wealth

management, and financial planning solutions.

With over a decade of professional experience,

Chahwan brings a rare combination of strategic

insight and operational execution to Sarwa’s

growth journey. Chahwan’s academic background

is equally impressive, it reflects his entrepreneurial

mindset. He studied finance and entrepreneurship,

earning a Bachelor of Commerce from

McGill University, a combination that continues

to influence his approach to building scalable and

resilient fintech solutions. Today, Mark Chahwan

remains firmly focused on advancing financial

inclusion and modernising wealth management

across the UAE and wider Middle East through

technology-driven, and customer-first innovation.


Highlights

Industry

Retail

Established In

1943


25+

Total Employees

1000-5000

Mark Mortimer Davies

Chief Executive Officer - GCC,

Choithrams

A visionary FMCG and grocery retail leader driving growth

and transformation across the Middle East.

Mark Mortimer Davies is

a dynamic and visionary

business leader and

Chief Executive Officer - GCC of

Choithrams with extensive experience

across the FMCG and grocery

retail sectors in the Middle

East. He is widely recognised for

driving growth, improving profitability,

and leading transformational

change in highly competitive

environments. His leadership style

combines strategic foresight with

operational rigour, enabling organisations

to adapt, innovate, and

achieve sustainable performance.

Throughout his career, Davies has

led large-scale operations across

FMCG and grocery retail, successfully

implementing strategies that

enhance operational efficiency,

strengthen supply chains, and

elevate customer experience. He

is regarded as a strategic communicator

who aligns teams around

clear objectives while fostering

collaboration and ownership at

all levels. Known for his ability to

translate strategy into measurable

results, Davies focuses on building

high-performing teams and fostering

a culture of accountability, collaboration,

and continuous improvement.As


he remains focused on positioning

organisations for sustainable

growth, long-term strategic resilience,

and competitive advantage

through strong, disciplined and

durable market leadership and

value creation in one of the region’s

most dynamic consumer sectors.

“Driving

sustainable

growth through

clear strategy,

operational

excellence, strong

teams, and a

relentless focus on

delivering value to

customers”


Masaood Ahmed

Al Masaood

President

Al Masaood Group

Marwan Abdullah

Al Rostamani

Chairman

Al Rostamani Group

Marwan Abdulla Al Rostamani serves as

Chairman of the Al Rostamani Group,

one of the UAE’s most established family

conglomerates, founded in the early 1950s by

the late Abdullah Hassan Al Rostamani. Over the

decades, the group has evolved into a diversified

enterprise with interests spanning automotive,

general trading, construction, real estate,

financial services, travel, and technology.

Under Marwan Al Rostamani’s leadership

since the early 2000s, the group has maintained

a reputation for reliability, innovation, and strategic

growth. He also serves as Vice Chairman of

Dubai Insurance Company, a position he has held

since 2006, and sits on the boards of the National

Bank of Umm Al Qaiwain and Dubai International

Securities, highlighting his influence across

the UAE’s financial and investment sectors.

An alumnus of George Washington University, Al

Rostamani earned his undergraduate and graduate

degrees in 1992 and 1995, respectively. As Chairman,

he continues to uphold the family’s legacy

of growth, ensuring the Al Rostamani Group remains

a cornerstone of the UAE’s private sector.

H.E. Masaood Ahmed Al Masaood is the

President of Al Masaood Group, one of

Abu Dhabi’s oldest and most diversified

family-owned business groups. Established

more than five decades ago, alongside the formation

of the United Arab Emirates, Al Masaood

Group has grown in parallel with the nation’s

economic development, playing a vital role in

supporting key sectors of the UAE economy.

Founded as a small trading house, Al Masaood was

among the earliest registered businesses in the capital,

holding Abu Dhabi Chamber of Commerce registration

number one. From its earliest days, the group

aligned its growth with national priorities, initially

entering the engineering sector through landmark

projects such as bringing the first gas turbine to Abu

Dhabi and constructing the city’s first desalination

plant in partnership with leading international firms.

Under Al Masaood’s leadership, the group expanded

steadily into a wide range of industries. Guided by

a long-term vision, H.E. Masaood Ahmed Al Masaood

continues to position the group as a trusted partner

in the UAE’s ongoing economic journey and ensuring

its impact endures for generations to come.


Mirwais

Azizi

Chairman

Azizi Developments

Michael

Lahyani

Founder & CEO

Property Finder

Michael Lahyani, Founder and Chief Executive

Officer of Property Finder, is

a pioneering proptech entrepreneur

widely recognised for modernising the real estate

search and transaction experience across

the Middle East. Through the launch and growth

of Property Finder, he fundamentally reshaped

how buyers, sellers, tenants and landlords interact

with property markets, introducing a digital-first

platform designed to deliver greater

transparency, accessibility and data reliability

for both consumers and industry professionals.

Since founding the company, Lahyani has driven

its expansion across multiple regional markets, navigating

diverse regulations and digital landscapes.

Under his leadership, Property Finder has become

one of the Middle East’s most trusted digital real

estate platforms, advancing technology adoption,

market insights, and consumer confidence. He drives

digital transformation, promotes strong regulation

and data integrity, and aligns innovation with

market needs. Combining entrepreneurial vision

with technology expertise and property insight,

Lahyani is a leading voice in regional proptech.

Mirwais Azizi stands as one of Dubai’s

most influential entrepreneurial figures,

embodying a rare blend of ambition,

scale, and social responsibility that mirrors the

city he has helped shape. A global entrepreneur,

investor, and philanthropist, Azizi has built a diversified

business empire anchored primarily in

real estate and banking, with Azizi Developments

at its core. Today, the group employs more than

36,000 people and delivers large-scale residential,

mixed-use, and master-planned communities

across Dubai’s most strategic locations. His leadership

philosophy is defined by a clear set of values:

ambition, quality, transparency, and community.

These principles are evident in a series of landmark

achievements, from the launch of the 725-metre

Burj Azizi to Azizi Milan, an Italian-inspired master-planned

community valued at over AED 75 billion

and home to more than 80,000 residences. Beyond development,

Azizi’s impact extends to society through

a historic AED 3 billion contribution to the Fathers’

Endowment Campaign and the creation of largescale

humanitarian initiatives spanning healthcare,

education, housing, and sustainable funding models.


Highlights

Industry

Entertainment

Established In

2011


UAE

Total Employees

3000+

Mohamed Abdalla Al Zaabi


Miral

Under Mohamed Al

Zaabi’s leadership,

Miral has

transformed Yas

Island into a worldclass

entertainment

destination,

combining strategic

development,

innovative

attractions,

and integrated

management to

elevate Abu Dhabi’s

tourism profile.”

Strategic, growth-focused leadership shaping world-class

leisure destinations and elevating global tourism appeal.

Mohamed Abdalla Al Zaabi

is the Chief Executive

Officer of Miral, the Abu

Dhabi-based developer responsible

for transforming Yas Island into a

world-class entertainment and tourism

destination. Since his appointment

in 2015, Al Zaabi has overseen

the development and expansion of

landmark attractions, including Warner

Bros. World Abu Dhabi, Ferrari

World Abu Dhabi, and SeaWorld

Abu Dhabi, driving record visitation

and solidifying Yas Island’s position

as a global entertainment hub.

Under his leadership, Miral has

delivered major strategic milestones.

In 2024, Al Zaabi secured a longterm

partnership with The Walt

Disney Company to bring the Middle

East’s first Disney destination to

Abu Dhabi, a significant regional

achievement in the leisure and

tourism sector. He has also expanded

the company’s portfolio

through large-scale collaborations,

including the opening of teamLab

Phenomena Abu Dhabi on Saadiyat

Island in April 2025 and the

launch of the Yas Waterworld Abu

Dhabi expansion in July 2025.

Under Al Zaabi’s leadership, Miral

manages Yas Island through three

subsidiaries, driving integrated

development and innovative attractions

that elevate Abu Dhabi’s

tourism profile. Formerly at Aldar

Properties, he brings deep expertise

in property development and

urban transformation, and continues

to position Yas Island as a

world-class leisure destination.


Mohamed Ali Rashed Alabbar

Founder & Managing Director | Founder & Director |

Chairman | Chairman ,

Emaar Properties | Noon | Eagle Hills | Americana Group

A pioneering business leader driving global impact

across real estate, retail, technology, and investment.

H.E. Mohamed Ali Rashed

Alabbar stands among the

most influential business

leaders to emerge from the Middle

East, a figure whose ambition and

execution have reshaped skylines,

industries, and consumer markets

across continents. With a career

spanning more than three decades,

Alabbar has built a global entrepreneurial

footprint across real

estate, retail, hospitality, e-commerce,

technology, logistics, food

and beverage, and venture capital,

anchored by a disciplined financial

mindset and an instinct for scale.

At the core of his legacy is Emaar

Properties, the Dubai-based developer

he founded in 1997 and listed on

the Dubai Financial Market in 2000.

Under his leadership, Emaar became

one of the region’s largest and most

diversified real estate companies,

with a land bank of approximately

1.7 billion square feet and operations

spanning the Middle East, North Africa,

and Asia. The company’s portfolio

extends well beyond residential

development to include integrated

retail, commercial leasing, hospitality,

entertainment, and lifestyle destinations.

Landmark achievements

such as Burj Khalifa, the world’s

tallest building, and The Dubai Mall,

now undergoing a major expansion

valued at over $400 million, symbolise

not only architectural ambition,

but a vision of urban development

that blends commerce, culture, and

community. Since 2002, Emaar has

delivered more than 120,000 homes

globally and operates a hospitality

portfolio of around 40 hotels and

nearly 10,000 rooms as of early 2025.

In 2020, Alabbar stepped down

as chairman to focus on executive

leadership, reflecting his hands-on

approach to strategy, growth, and institutional

development. He founded

Eagle Hills in 2014, developing highend

real estate across 10 countries,

and has scaled regional champions

like Americana Restaurants, noon.

com, and Zand Bank, bridging traditional

industries with digital innovation

and emerging markets. With

a Finance and Business Administration

degree from Seattle University

and multiple honorary doctorates,

his leadership combines academic

insight, disciplined execution, and

visionary thinking. Alabbar continues

to shape the region’s economy,

redefining cities, companies, and

markets through bold, transformative

initiatives, and leaving a lasting

impact on global commerce and

investment landscapes. His career

exemplifies the power of vision

matched with decisive action.

The expansion and

global influence of

Alabbar’s ventures

reflect his focus on

visionary development,

strategic execution,

and creating lasting

economic and societal

value..”


Highlights

Industry

Conglomerate

Established In

1997

Total Assets as of 2025

$43.6 billion

Total Employees

16,000+


Mohammad

A. Baker

Deputy Chairman & CEO

GMG (Gulf Marketing Group)

Mohamed Jameel

Al Ramahi


Masdar

Mohamed Jameel Al Ramahi began his career

at the company in 2008 as Head of Internal

Audit & Compliance, where he established

the enterprise risk management function. He

was promoted to Director of Corporate Services &

Financial Affairs in March 2011 and became Chief

Financial Officer (CFO) in December 2012, embedding

financial discipline and strategic planning

across the organisation. From 2013 to 2016, he

served as Chief Operating Officer (COO), driving

operational efficiency, profitability, and large-scale

project delivery, solidifying Masdar’s reputation

as a reliable and innovative energy partner.

Mohamed Jameel Al Ramahi, CEO of Masdar,

has led the development of Masdar City and major

renewable energy projects, including the 800 MW

third phase of Dubai’s Mohammed Bin Rashid Al

Maktoum Solar Park. He serves on Masdar’s Investment

Committee and boards of Shuaa Energy

2 PSC and Tabreed, and previously managed audit

and risk at GASCO. Holding a bachelor’s in business

administration and finance, Al Ramahi combines

strategic and operational expertise, positioning

Masdar as a global leader in sustainable innovation.

Mohammad A. Baker represents a new

wave of UAE business leadership, dynamic,

globally aware, and driven by a

vision to elevate regional brands onto the international

stage. As Deputy Chairman and CEO of

GMG, he has transformed the family-owned enterprise

into a diversified international powerhouse

spanning food, sports, health, and lifestyle.

Baker grew up surrounded by entrepreneurship,

shaping his belief that businesses must evolve to

stay relevant. At GMG, he expanded the organisation

through strategic acquisitions, and investments that

support community wellbeing. He has driven growth

in retail, distribution, and food manufacturing,

promoting regional food security. A strong advocate

for youth empowerment, Baker champions sports

and entrepreneurship initiatives, measuring business

success by social impact as well as revenue. His

bold, collaborative leadership emphasizes sustainability,

digital transformation, and purpose-driven

branding, positioning GMG at the crossroads of

commercial success and societal benefit. Mohammad

A. Baker leads GMG, driving growth that benefits

communities and creates lasting social impact.


Highlights

Industry

Conglomerate

Established In

1970


UAE

Total Employee

10,000+

Mohammed Khalaf Al Habtoor

Founder & Chairman,

Al Habtoor Group

Khalaf Ahmad Al-

Habtoor’s approach

emphasizes

disciplined growth,

innovation, and

societal impact,

positioning the Al

Habtoor Group

as a leading

force in business

and community

development.”

Visionary leader in business and philanthropy, advancing

economic, social, and cultural impact in the UAE.

Mohammad Khalaf Ahmad

Al-Habtoor is a prominent

and highly respected

businessman of the United Arab

Emirates, best known as the Chairman

of the Al Habtoor Group, one

of the Gulf region’s most diversified

and successful conglomerates. He

also serves as Chairman of Dubai

National Insurance and Reinsurance

Company. A self-made entrepreneur,

Khalaf Ahmad Al-Habtoor has

played a significant role in shaping

key sectors of the UAE economy,

including hospitality, real estate, automotive,

education and insurance.

Throughout his career, Khalaf

Ahmad Al-Habtoor has held influential

leadership and advisory roles,

including Chairman of the Commercial

Bank of Dubai, Vice Chairman

of the Al Jalila Foundation Board,

and membership in the UAE Federal

National Council. He has served on

the Dubai Chamber of Commerce

board and was the only non-US

member of the World Board of

Governors of the American United

Services Organisation (1994–1997).

In 2017, he inaugurated the Khalaf

Ahmad Al-Habtoor Life Journey, a

high-tech retrospective showcasing

his Emirati heritage, entrepreneurial

achievements, philanthropy, and

advocacy work. Beyond business, he

is widely recognised for his significant

contributions to international

affairs, philanthropy, and promoting

peace, and continues to influence

the UAE as a prominent thought

leader, author, writer, and advocate

for social and cultural development.


Mudassir

Sheikha

CEO & Co-Founder

Careem

Mona

Ataya

Founder & CEO

Mumzworld

Mona Ataya, Founder and Chief Executive

Officer of Mumzworld, is one of the Middle

East’s most influential women entrepreneurs

and a recognised leader in regional e-commerce.

Beyond building a successful and fast-growing

SME, she is driven by a clear mission to empower

mothers by improving access to trusted products,

reliable information and supportive digital communities

across the region.

Founded in 2011, Mumzworld grew from Mona Ataya’s

personal experience as a mother into the Middle

East’s leading e-commerce platform for mothers,

babies, and children. Serving over two million parents

across 20 countries with 250,000+ products, the

platform combines global brands with regional relevance

and a customer-focused, convenient shopping

experience.Under Ataya’s leadership, Mumzworld

has achieved sustained growth while fostering

community engagement, operational excellence, and

consumer trust. Her visionary approach has also set

new standards for purpose-driven e-commerce in the

region. She also serves on the Advisory Boards of

RetailME and the Middle East Retail Forum, shaping

the future of regional retail and digital commerce.

Mudassir Sheikha is the Chief Executive

Officer and Co-Founder of Careem, the

Middle East’s leading technology platform

and one of the region’s most influential

entrepreneurial success stories. Raised in Karachi,

Pakistan, he developed an early interest

in technology and problem-solving, which later

shaped his academic and professional journey.

He graduated from the University of Southern

California with a degree in economics and computer

science before completing a master’s degree

in computer science at Stanford University.

Mudassir Sheikha began his career in Silicon

Valley before returning to Pakistan to help build

DeviceAnywhere, later acquired by Keynote. He

joined McKinsey in Dubai and in 2012 co-founded

Careem with Magnus Olsson, growing it into

the Middle East’s only tech unicorn operating in

120+ cities with over 3,500 employees. Careem has

transformed mobility and digital services across

the region. Known for his hands-on, purpose-driven

leadership, he remains deeply involved in teams

and product development, shaping Careem’s impact

on mobility, delivery, and digital services.


Mustafa

Jassem


Lootah Holding

Muhammad

Binghatti

Chairman

Binghatti Holding

Muhammad Binghatti has emerged as one of

the defining architectural and entrepreneurial

voices shaping Dubai’s contemporary

skyline. As the Chairman and Head of Architecture

of Binghatti Developers, he has positioned the

company at the intersection of design, luxury, and

large-scale real estate development, redefining how

property is imagined, experienced, and valued in

one of the world’s most competitive urban markets.

As Chairman of Binghatti Developers, Muhammad

Binghatti leads one of the UAE’s most recognisable

property brands, with an AED 100 Billion Dubai

portfolio. Since 2014, he has driven a design-led

approach, creating “hyper-properties” immersive

developments that go beyond conventional living

or working spaces. His projects feature bold forms,

distinctive silhouettes, and a strong visual identity,

often developed in collaboration with luxury brands

such as Bugatti, Mercedes-Benz, and Jacob & Co.

Signature developments, including Burj Binghatti and

Jacob & Co. Residences. Binghatti balances visionary

design with market realities, fostering excellence

while expanding internationally and integrating

smart technologies across his developments.

Mustafa Jassem is the Group Chief Executive

Officer of Lootah Holding, a

UAE-based family-owned conglomerate

recognised for its entrepreneurial legacy, innovation-driven

approach and strong alignment with

the nation’s cultural heritage. He is responsible

for shaping the group’s long-term vision, steering

strategic growth and ensuring operational excellence

across a diversified portfolio of businesses.

Lootah Holding operates across real estate, construction,

facilities management, interior design,

logistics, and digital solutions. Jassem leads these

sectors with a focus on sustainable growth, value

creation, and resilience, aligning opportunities with

market trends and national priorities. He has driven

operational efficiency, sustainable property development,

and technology-led solutions to streamline

operations and enhance performance. Under his

leadership, Lootah Holding balances commercial

success with long-term responsibility, emphasizing

quality, and innovation. Jassem also strengthens governance,

fosters collaboration, and ensures strategic

alignment, reinforcing the group’s market position

and contributing to regional economic growth.


Highlights

Industry

Real Estate

Total Transaction Sales

USD 20bn+


UAE

Total Employees

90 - 150

Myles Bush

Chairman and Co-Founder,

Phoenix Homes

Reshaping Dubai real estate through innovation, highvalue

transactions, and market leadership.

Myles Bush is a Dubai-based

entrepreneur whose journey

reflects resilience, and

a willingness to challenge convention.

Arriving in Dubai as an ambitious

young agent with little to his

name, and at one point sleeping in

a friend’s maid’s room, he built his

career from the ground up. Through

disciplined work ethic, he rose

steadily through the ranks of Dubai’s

competitive property sector, becoming

a self-made multi-millionaire by

the age of 28. Before founding his

current venture, Bush was the CEO

of PH Real Estate. Seeing a gap in

Dubai’s brokerage market, he introduced

an agent-first, American-style

model by founding Phoenix Homes

with a pioneering 80% commission

structure that reshaped industry

standards.Today, Phoenix Homes is

an award-winning agency recognized

for securing landmark transactions,

including Dubai’s largest residential

listing in Al Barari. Across Dubai and

the UK, Bush has spearheaded over

$20 billion in transactions, including

selling the most expensive property

of the year so far at AED 134m. Beyond

his commercial achievements,

he is an avid sportsman and dedicated

philanthropist, having raised

seven figures for charitable causes.

His efforts include summiting Mount

Kilimanjaro, Island Peak, and Mount

Elbrus, as well as participating in

multiple boxing bouts to support

cancer research and the King Hussein

Cancer Foundation. Bush continues

to set new standards in luxury

real estate design and exclusivity.

The UAE’s luxury

property market

continues to go

from strength

to strength. In

2025, Phoenix

Homes achieved

remarkable

milestones. With

strong momentum

behind us, we are

poised to build

on that success

and elevate our

performance even

further in 2026.”


Highlights

Industry

Retail

Total Stores

150+


UAE

Total Employees

5000+

Naresh Kumar Bhawnani

Founder and Chairman,

West Zone Group

I have three

principles in

life ; people

(customers), power

(employees) and

price (affordability)

– that have guided

me to excel in

offering the best

to our customers

and achieving

milestones for the

organization.”

Transforming neighborhood retail into a multi-sector

group with regional ambition.

Naresh Kumar Bhawnani has

played a defining role in

Dubai’s neighbourhood retail

sector, leading West Zone Group

from a single supermarket to a network

of more than 150 stores across

the UAE in just two decades. Under

his direction, the brand has become

a consistent presence in residential

communities, recognised for accessibility,

operational discipline and

value-driven retail. His grounding in

business began early. At 15, he was

already working in his family’s retail

enterprise, that early immersion

instilled a practical, detail-oriented

approach, one that continues to define

his leadership style. West Zone

was established on 2 December 2005

in Mirdif, aligning its launch with

the UAE’s National Day. As the retail

platform strengthened, Bhawnani

oversaw a deliberate diversification

strategy. Since two decades, the

group has expanded into hypermarkets,

logistics facilities, malls,

real estate, building materials and

contracting, as well as hospitality

and FB. This broadened portfolio reflects

a structured growth approach,

leveraging retail expertise while

building complementary verticals.

Today, the Group employs more than

5,000 people, whose contribution

Bhawnani frequently acknowledges

as central to its sustained progress.

Looking ahead, he remains focused

on disciplined expansion, operational

efficiency, and sustainable

growth, strengthening the group’s

presence in the UAE and internationally

across key markets.


Naser

Taher

Founder & Chairman

MultiBank Group

Naser Taher’s career reflects resilience, strategic

foresight, and a sustained commitment

to innovation across global financial and

commercial markets. With more than 36 years of industry

experience, Naser Taher has built a reputation

for navigating complex financial environments while

consistently adapting to evolving market dynamics.

As founder and chairman of MultiBank Group,

Naser Taher established the firm in California in

2005, growing it into one of the world’s largest

financial derivatives organisations. With paid-up

capital exceeding USD 322M and licences from

16+ regulators across five continents, MultiBank

serves over one million clients in 100+ countries,

with daily trading volumes above USD 18.1B. The

group offers comprehensive brokerage and asset

management services across Forex, metals, shares,

commodities, indices, and digital assets. Prior to

MultiBank, Taher held senior roles at BNP Paribas,

Barclays, UBS, Merrill Lynch, and Credit Suisse.

Through disciplined leadership and strategic

growth, he continues to drive regulatory strength,

technological innovation, sustainable practices,

client-focused solutions, and global expansion.

Nasser Hassan

Al Shaikh

Chairman

Eshraq Investments

H.E. Nasser Hassan Al-Shaikh is an Emirati

economist and businessman with extensive

experience across the public and private

sectors. Al-Shaikh served as Director General of

Dubai’s Department of Finance until at least 2009,

shaping fiscal policy and supporting executive decision-making

during a pivotal phase of the emirate’s

economic growth. He then entered the private

sector, founding Al Shaikh Holdings, a multi-disciplinary

investment platform spanning real estate,

financial services, and strategic investments, and

has held board roles including at National Bonds

Corporation. He is currently Chairman of Eshraq

Investments PJSC, an Abu Dhabi-listed company

focused on real estate and financial services, leading

portfolio optimisation and value-driven growth.

A recognised finance and economics leader, he has

shared valuable insights on global economic risks,

sustainability, and regulatory innovation, including

at COP28 and other international forums.He began

his career at the family-owned Hassan Bin Al

Shaikh Group, gaining early practical exposure to

private-sector business dynamics during the UAE’s

transition to a diversified, post-oil economy.


Noor

Sweid

Founder & Managing Partner

Global Ventures

Navin

Valrani

Vice Chairman & Managing Director

Al Shirawi Group of Companies

Navin Valrani is an Indian businessman and

education executive based in Dubai, United

Arab Emirates. He is best known as Vice

Chairman and Managing Director of the Al Shirawi

Group, a family-owned conglomerate founded

in 1972, with operations spanning manufacturing,

engineering services, oil and gas, logistics, and

related industrial sectors. The group employs more

than 10,000 people across its diversified portfolio.

Valrani is CEO of Arcadia Education, overseeing

Arcadia School, a British curriculum institution, and

founding the Junior MBA programme for primary

students. Born and raised in Dubai, he has built

his career within the Al Shirawi Group, leading

its engineering services cluster of 11 companies,

seven joint ventures, and over 5,000 employees, and

previously driving growth as CEO of the Engineering

Services division. A strong advocate of continuous

learning, he fosters a ‘knowledge culture’ across

the group and holds a BSc from Wharton, an MBA

from London Business School, an MSc and Doctorate

in Education, while serving as Chairman of YPO

Emirates and on University of Pennsylvania boardsboard

positions at the University of Pennsylvania.

Noor Sweid is widely regarded as one of the

Middle East’s most influential venture capitalists,

playing a defining role in shaping the

region’s innovation economy and enabling the rise of

globally relevant technology businesses. As Founder

and Managing Partner of Global Ventures, she leads

one of the region’s leading growth-stage investment

firms, backing high-impact companies across the Middle

East and Africa. Through this platform, she has

supported entrepreneurs transforming critical sectors

including fintech, healthtech, logistics, agritech

and digital infrastructure, helping scale solutions

built for emerging markets with global ambition.

Noor Sweid’s venture capital leadership stems

from deep entrepreneurial and operational experience.

She helped Depa expand globally and

achieve dual listings, founded ZenYoga, the Middle

East’s first yoga and Pilates chain, and served as

Chief Investment Officer at Dubai Future Foundation,

significantly advancing the UAE’s innovation

and technology ecosystem. A passionate champion

of diversity and long-term value creation,

she mentors founders, serves on multiple boards,

and drives the region’s tech transformation.


Highlights

Industry

Retail

Established In

2005


61

Total Employees

11,000+

Nilesh Khalkho

Co-Founder & CEO,

Sharaf DG

Guiding growth and loyalty through innovation,

operational discipline, and inclusive culture.

The driving force behind

Sharaf DG’s growth and

market leadership is its

Co-Founder and CEO, Nilesh

Khalkho, whose career spans more

than two decades across retail and

technology. His strategic vision and

operational expertise have been

central to shaping Sharaf DG into

one of the UAE’s most recognisable

consumer electronics retailers.

Nilesh Khalkho began his professional

journey in the telecommunications

sector, holding senior roles

at organisations such as Al Futtaim

Telecom, DSS Mobile Communications,

Reliance Telecom, and HCL

Infosystems Ltd. These formative

years provided deep exposure

to sales leadership, marketing

strategy, and large-scale business

development across competitive

markets. The experience laid a

strong foundation for his transition

into organised retail, where technology

adoption and customer engagement

are critical success factors.

At Sharaf DG, Nilesh Khalkho

champions a customer-first approach,

introducing initiatives like

the “best price guarantee” and

24-hour “product not available, claim

free” promise to build trust and

loyalty. Equally focused on people

and culture, he fosters an inclusive

workplace of over 2,700 employees

from 40+ nationalities. Combining

customer-centric innovation with

a people-led leadership style, he

continues to drive Sharaf DG’s

growth and relevance in a competitive,

tech-driven retail landscape.

Nilesh Khalkho’s

approach

emphasizes

strategic growth,

technology

adoption, and

customer trust,

positioning

Sharaf DG as a

market leader in a

competitive retail

landscape.”


Paras

Shahdadpuri

Chairman

Nikai Group

P.N.C.

Menon

Founder

Sobha Group

Puthan Naduvakkatt Chenthamaraksha Menon,

widely known as P.N.C Menon, embodies

one of the most compelling entrepreneurial

journeys to emerge from the region, one defined by

discipline, craftsmanship, and an uncompromising

commitment to quality. From arriving in the Middle

East in 1976 with just $7 to founding a global real

estate and construction group that supports over

50,000 families worldwide, Menon’s story is a masterclass

in resilience and long-term vision.

PNC Menon began his career in Oman, earning a

stellar reputation for precision and craftsmanship.

In 1995, he founded Sobha Developers in India,

now operating in 27 cities with a market cap of

~$2 billion. In 2003, he launched Sobha Realty in

Dubai, applying his renowned “The Art of Detail”

philosophy to luxury real estate, including the

~$5 billion Sobha Hartland I project. A committed

philanthropist, Menon has pledged 50 per cent of

his wealth to charitable causes across education,

healthcare, community upliftment, and other social

initiatives spanning India, the UAE, and Oman.

His legacy blends entrepreneurial vision with

integrity, precision, and social responsibility.

Paras Shahdadpuri, Chairman of the NIKAI

Group of Companies, is a distinguished former

diplomat who served the Indian government

before establishing himself as a leading entrepreneur

in the UAE. Paras Shahdadpuri is widely recognised

as a gentleman and a Statesman in business circles,

and his contributions have earned him the prestigious

Bharat Shiromani Award. Paras Shahdadpuri

is also the owner of a Superbrand and a philanthropist

deeply committed to community service.

Paras Shahdadpuri began his career in the Indian

Foreign Services, representing India in China, the US,

Saudi Arabia, and Libya, before leaving diplomacy

in 1987 to start a business in the UK and later Dubai.

He founded the NIKAI Group in 1988, expanding

from commodities into electronics, home appliances,

IT, FMCG, and retail, employing 5,000 people with

a turnover exceeding Dh1 billion. Under his leadership,

Nikai became a Superbrand with over 400

products sold in 60 countries, reaching 65 million

customers. A philanthropist and business leader,

Shahdadpuri supports education, healthcare, and

community welfare, while fostering India-UAE trade,

earning numerous awards for his vision and impact.


Prateek

Suri

Founder & CEO

Maser Group

Pavel

Durov


Telegram

Prateek Suri’s journey is defined by resilience

and strategic vision. Known as the richest

Indian in Africa with an estimated net worth

of US$1.9 billion, he earned the nickname “Technology

Tiger of Africa” for building a major consumer

tech brand on the continent. An engineering graduate

from Birla Institute of Technology and Science,

Pilani, Suri faced early career setbacks in the Middle

East before choosing entrepreneurship over a job

offer. In 2014, he founded Maser, which grew rapidly

across markets like Nigeria, Kenya, and Ghana by

offering affordable, high-quality smart TVs tailored

to local needs. Maser later expanded into home appliances,

wellness tech, and smart home solutions. In

2024, the company surpassed US$1 billion in revenue

and was acquired for US$5 billion by Chia Group,

one of Africa’s biggest technology exits.

Today, Suri leads MDR Investments, backing ventures

across Africa and the Gulf, while supporting

social initiatives through the Maser Foundation.

His story highlights how persistence and

vision can transform setbacks into billion-dollar

global opportunities.

Pavel Durov is a globally recognised technology

entrepreneur and the founder of Telegram,

one of the world’s most widely used messaging

platforms. Launched in 2013, Telegram has

grown rapidly to exceed 1 billion monthly active

users, positioning itself as a leading alternative to

mainstream messaging services such as WhatsApp.

The platform is known for its speed, reliability

and focus on secure, efficient communication.

Before Telegram, Pavel Durov co-founded VKontakte

(VK), Russia’s largest social network, establishing

himself as a leading innovator in social

media. He has consistently championed user privacy,

technological independence, and freedom of

communication, principles that continue to guide

Telegram’s development. Telegram, widely adopted

across Europe, the Middle East, Asia, and Latin

America, offers cloud-based messaging, large

groups, and broadcast channels, remaining privately

owned to prioritize long-term vision and product

integrity. A French citizen in Dubai, Durov keeps

a low profile, focusing on innovation, global entrepreneurship,

and family, while expanding Telegram

as a secure, borderless communication platform.


Rahail

Aslam

Founder & Chairman

Select Group

Pratham

Mittal

Founder

Tetr College and Masters’ Union

Rahail Aslam founded Select Group in 2002,

laying the foundation for what has become

one of Dubai’s prominent privately owned

real estate development and investment companies.

From its inception, he served as Chief Executive

Officer, steering the Group through successive

market cycles while building a diversified portfolio

spanning residential, mixed-use and hospitality assets.

His leadership has been defined by a long-term

investment philosophy, disciplined execution, and

a focus on prime waterfront and urban locations.

In 2024, Rahail Aslam became Chairman, ensuring

strategic continuity during a milestone year for

Select Group. The company launched the ultra-luxury

Six Senses Residences Dubai Marina and sold out its

Peninsula Master Community in Business Bay.

In 2025, Select Group significantly expanded its

hospitality portfolio with the USD 59 million acquisition

of the Radisson Blu Hotel, Dubai Media

City. As of March 2025, the Group had successfully

delivered over 7,000 homes, with 6,000 more under

construction, continuing its strong focus on

disciplined growth and long-term value creation.

Pratham Mittal is reimagining business education

for the 21st century. Founder of

Masters’ Union and Tetr College of Business,

he champions a “learning by doing” model where

students build real companies instead of only

studying theory. Founded in 2024, Tetr operates

across seven countries, including the US, Singapore,

Dubai, India, and Ghana, with students launching

businesses each semester from e-commerce and

D2C brands to tech, AI, and social impact ventures.

The model earned global recognition with the Gold

Award for Innovation in Business Education at the

QS Reimagine Education Awards 2025. Tetr has also

announced recruitment in China for its first postgraduate

cohort and third undergraduate cohort,

alongside a USD 2 million scholarship for Chinese

students. The institution hosts 300+ students from

50+ countries, with its first UG cohort launching

44 ventures and generating over USD 500,000 in

revenue. Applications have risen 50% this cycle,

with a highly selective 0.12% acceptance rate. A

University of Pennsylvania graduate, Mittal previously

co-founded Outgrow, and continues to build a

borderless, experiential model of business learning.


Highlights

Industry

Banking

Total Assets

AED 105B


UAE

Total Employees

(As of

2025)

1,001–5,000

Raheel Ahmed


RAKBANK

A transformational banking leader driving resilient growth

through strong fundamentals and bold digital innovation.

Raheel Ahmed is leading RAK-

BANK’s transformation into

a resilient, future-ready institution

built on strong fundamentals

and innovation. In FY2025, the Bank

reported a Capital Adequacy Ratio

of 18.1%, supporting sustainable

growth and continued investment in

technology and ecosystem expansion.

With over 30 years of global

banking experience across Asia, the

Middle East, Africa, and Europe,

Raheel is a seasoned transformational

leader. He has held senior roles at

Barclays, Standard Chartered, and

Citigroup, bringing deep expertise

in large-scale transformation and

governance. Under his leadership,

RAKBANK has accelerated its digital

agenda, increasing capital expenditure

to AED 281 million in FY2025

to advance AI capabilities, scalable

platforms, and ecosystem partnerships.

Flagship initiatives such as

Protego, RAKINSURANCE, Skiply

(serving 350,000+ students), and

rai (supporting 270,000+ customers)

highlight its customer-centric

innovation. The Bank also became

one of the first conventional UAE

banks to offer regulated crypto

brokerage access via its mobile app.

RAKBANK has further strengthened

its affluent offering with Elite Wealth

Centres across Ras Al Khaimah,

Abu Dhabi, and Dubai, combining

personalised advisory with premium

experiences. Guided by a culture of

curiosity and inclusion, RAKBANK

continues to balance innovation

with empathy, positioning itself as

a trusted partner across the UAE.

Sustainable

success comes

from learning faster

than competitors,

staying relentlessly

focused on

customers and

creating cultures

where technology

strengthens human

connection.”


Rizwan

Sajan

Founder & Chairman

Danube Properties

Ramesh S.

Ramakrishnan

Chairman

Transworld

Ramesh S. Ramakrishnan is the Chairman of

Transworld Group, a globally recognised

shipping and logistics conglomerate with a

strong operational base in the UAE and an expanding

international footprint. A commerce graduate

from the University of Mumbai, Ramakrishnan brings

over 30 years of entrepreneurial experience to the

industry, spanning ship owning, chartering, ship

management and integrated logistics solutions. His

leadership is defined by a hands-on approach and

a deep, practical understanding of maritime operations,

which has played a decisive role in shaping

the group’s long-term strategy and resilience.

Under his chairmanship, Transworld Group has

broadened its portfolio well beyond traditional

maritime services. Today, the group employs a

workforce of over 900 professionals and offers a

comprehensive suite of services, including ship

owning and management, digital supply chain

management, warehousing, shipping agencies,

project logistics and real estate. Ramakrishnan’s

leadership continues to be guided by a long-term

vision focused on sustainable growth, operational

efficiency and geographic expansion.

Rizwan Sajan, Founder and Chairman of

Danube Properties and the Danube Group,

is widely regarded as a visionary business

leader with more than three decades of demonstrated

success. Renowned for his entrepreneurial

mindset and progressive leadership, he has been

instrumental in shaping Dubai’s real estate sector and

influencing the wider Middle East property market.

Driven by a constant desire to innovate and push

boundaries, Rizwan Sajan’s leadership is defined by

a hands-on approach and a firm belief in perseverance.

His ability to lead by example has cultivated

a strong culture of accountability, creativity and

sustained growth across the Danube Group. In 2014,

Sajan established Danube Properties with a clear

vision to deliver affordable luxury homes in Dubai.

Under his chairmanship, the company has rapidly

evolved into one of the city’s prominent real estate

developers. Today, Danube Properties is recognised

as one of the UAE’s most trusted real estate brands,

known for delivering high-quality residential developments.

Rizwan Sajan’s strategic vision has

positioned the company as a benchmark for affordable,

customer-focused property development.


Highlights

Industry

Omnichannel Retail

Established In

1973


17+

Total Employees

55,000+

Renuka Jagtiani

Chairwoman,

Landmark Group

Guiding growth and innovation to build resilient, multiregional

retail and hospitality businesses.

For over three decades, Renuka

Jagtiani, Chairwoman

of Landmark Group, has

steered the corporate strategy of

the organisation, playing a defining

role in its evolution into a leading

omnichannel retailer of locally

recognised brands across the MENA

region. She was instrumental in the

establishment of the high-street

fashion brand Splash in 1993, a

milestone that marked a turning

point in Landmark Group’s growth

story. Renuka Jagtiani’s leadership

also guided the group’s early entry

into e-commerce more than a decade

ago, positioning Landmark Group

ahead of regional retail trends.

In her current role, she remains

focused on advancing the group’s

long-term vision, refining its

strategic direction, and identifying

new growth opportunities across

markets. Jagtiani works closely with

senior leadership teams, offering

strategic insight that informs decisions

shaping the group’s future

trajectory. Her disciplined approach

to governance, combined with deep

understanding of consumer behaviour,

has been central to Landmark

Group’s sustained growth,

innovation agenda, and resilience in

a rapidly evolving retail landscape.

Under Jagtiani’s leadership, the

group has grown into a diversified

retail and hospitality conglomerate

with 2,200+ stores in 20+ countries,

including Max, Splash, and

Babyshop, ranking among the GCC’s

largest omnichannel and India’s

top home and fashion retailers.

Landmark Group’s

expansion and

resilience reflect

Renuka Jagtiani’s

focus on strategic

growth, consumercentric

innovation,

and long-term

vision across

multiple markets.”


Highlights

Industry

Real Estate

Established In

2002


UAE

Total Employees

200-500

Saeed Mohammed Al Qatami


Deyaar Development

Under Saeed

Al Qatami’s

leadership, Deyaar

Development has

strengthened its

presence across

Dubai’s residential,

commercial, and

mixed-use sectors,

combining strategic

growth, innovation,

and long-term

community value.”

Focused on strategic growth, operational efficiency, and

innovation across complex real estate markets.

Saeed Al Qatami is the Chief

Executive Officer of Deyaar

Development, a position he

has held since 2010, overseeing

one of Dubai’s established real

estate development and property

services companies. Established

in 2002, Deyaar operates across a

diversified platform that includes

property development and management,

facilities management,

community management, as well as

hospitality and asset management.

Under Saeed Al Qatami’s leadership,

the company has continued

to strengthen its footprint across

key residential, commercial, and

mixed-use segments in Dubai.

Deyaar’s real estate portfolio

spans several of the city’s prominent

districts, including Business

Bay, Dubai Marina, Al Barsha,

DIFC, Jumeirah Lake Towers,

Dubai Production City, Dubai

Silicon Oasis, Al Barsha South, and

Al Barsha Heights. These developments

reflect a balanced focus

on urban living, investment-grade

assets, and long-term community

value, aligned with Dubai’s

evolving real estate landscape.

Saeed Al Qatami has guided

Deyaar through multiple market

cycles, overseeing strategic projects

like the USD 299.5M Mar Casa

tower. With USD 1.7B in assets, USD

255.9M in revenues, and a market

capitalisation of USD 772.1M in

early 2023, he continues to drive

the company’s growth, innovation,

and strategic positioning in Dubai’s

competitive real estate market.


Sahar

Cooper


Aldar Education

Saad

Maniar


Baker Tilly UAE

Sahar Cooper, Chief Executive Officer of Aldar

Education, assumed her current role in 2018.

Aldar Education, a wholly owned subsidiary

of Aldar Properties, operates and manages 31

schools, serving approximately 37,000 students in

the 2024/25 academic year. In the first nine months

of 2024, the company reported revenues of USD 174

million, accounting for around 13% of the group’s

total revenues. With 25 years of global experience

in education management, including 19 years in the

UAE, Sahar Cooper has developed expertise in leading

large, complex, multi-site educational operations.

Throughout her career, Sahar Cooper has consistently

driven improvements in education performance

through effective operational delivery, supply chain

management, and robust risk and governance frameworks.

She is recognised for her ability to enhance

health and safety protocols, implement strategic

initiatives, manage projects, and integrate mergers

and acquisitions. Under her guidance as CEO, Aldar

Education has strengthened its position as a leading

education provider in the UAE, delivering high-quality

educational services while maintaining a focus

on operational efficiency, growth, and excellence.

With nearly three decades of experience in

the UAE’s financial and advisory sector,

Saad Maniar is a principled, forward-thinking

leader committed to ethics, transparency,

and professional excellence. In May 2025, he was

appointed CEO of Baker Tilly UAE, part of Baker

Tilly International, a top-10 global network with USD

6.8 billion in revenue, 50,000+ professionals, and a

presence in 147+ territories. Leading over 200 professionals,

he focuses on strategic growth, operational

excellence, and technology-driven services across

audit, advisory, risk, and tax. Maniar has also served

as Chairman of the ACCA Members Advisory Committee,

an elected Board member at Dubai Quality

Group, and an elected member of the International

Assembly of ACCA – UK. He aims to expand Baker

Tilly’s impact through innovation, service excellence,

and thought leadership in governance and

ethics, drawing inspiration from Sheikh Mohammed

bin Rashid Al Maktoum’s vision, which positions

the UAE as a global hub for business and finance.


Shehab

Gargash

Managing Director & Group CEO

Gargash Group

Shamsheer

Vayalil

Founder, Chairman & CEO

Burjeel Holdings

Dr. Shamsheer Vayalil is a distinguished

healthcare visionary and entrepreneur,

and the Founder, Chairman, and CEO of

Burjeel Holdings, one of the leading integrated

healthcare services providers in the MENA region.

Under his leadership, Burjeel Holdings employs

more than 13,000 healthcare professionals and

serves over six million patients annually, reflecting

its clinical excellence, operational scale, and

commitment to accessible, patient-centred care.

Alongside his role at Burjeel Holdings, Dr. Shamsheer

serves as Chairman of Amanat Holdings, a

DFM-listed healthcare and education investment

company, and Chairman of Almasar Alshamil

Education Company in Saudi Arabia. He is also a

Board Member of Response Plus Holding, the UAE’s

largest provider of onsite and emergency healthcare

services.A trained radiologist, Dr. Shamsheer

founded VPS Healthcare in 2007, expanding it from

a single hospital into an international network

across the GCC, India, and Europe. In 2022, its GCC

assets were consolidated under Burjeel Holdings,

where, as Founder, Chairman, and CEO, he continues

to drive strategic growth and innovation.

Shehab M. Gargash is the Managing Director

and Group CEO of Gargash Group, a diversified

UAE-based conglomerate with interests

spanning automotive, real estate, financial services,

and food and beverage. Under his leadership, the

Group has expanded its regional footprint through

several landmark initiatives, including the launch of

the GAC Motor and AION brands in Oman in November

2024 and the introduction of Ankai buses

in the UAE through Charabanc in December 2024.

In the financial services space, Daman Investments,

the Group’s finance arm, partnered with Allianz

Global Investors in July 2024 to launch one of the

UAE’s first onshore retail feeder funds. Shehab

Gargash is a key figure in Dubai’s Gargash family

business, successfully leading its unification in

2016 and serving as Founding Chairman of Daman

Investments. With a background in banking at

Citibank and Emirates Bank International, he holds

board positions across regional institutions and is

a noted commentator on socio-economic trends.

An avid art collector and founder of the Daman

Middle East Art Fund, he also holds an MBA and

BBA from George Washington University as well.


Sima Ganwani

Ved

Founder & Chairwoman

Apparel Group

Sherif

Beshara

Group CEO

Mohamed & Obaid Almulla Group of

Companies

Sherif Beshara began his career with the Mohammad

& Obaid AlMulla Group in 2017 as

Group General Counsel, quickly rising through

the ranks to become Group Chief Legal Officer and

assuming his current role as Group CEO by late 2018.

Over more than a decade, he has built a distinguished

career in the legal and corporate sectors, recognised

for his strategic insight and leadership capabilities.

His professional journey spans a range of senior

roles, including legal counsel and chairman, allowing

him to develop versatile expertise across finance,

aviation, and corporate law. Sherif Beshara has been

instrumental in providing strategic counsel to CEOs,

advising on aviation sector matters, leading joint

ventures, and overseeing complex litigation cases.

His contributions have consistently strengthened

organisational governance and risk management

while driving growth initiatives. As Group CEO,

Sherif Beshara drives the Mohamed & Obaid AlMulla

Group’s strategic direction, operational efficiency,

and financial performance, while overseeing compliance

and governance. Under his leadership, the

group has expanded its market presence, reflecting

his commitment to innovation and excellence.

Sima Ganwani Ved is a prominent entrepreneur

and retail leader whose vision and execution

have played a defining role in shaping

the Middle East’s fashion and lifestyle landscape.

She founded the Apparel Group in 1996, transforming

it from a single-brand operation into one

of the region’s largest and most diversified retail

conglomerates. Today, the group operates under

APPCORP Holding and manages a portfolio

of more than 85 international and home-grown

brands, with over 2,300 stores across 14 countries.

With over 28 years of retail experience, Sima

leads Apparel Group as a trusted franchise partner

for global brands across the Middle East, Asia, and

Europe. In July 2024, the group expanded its premium

portfolio through a franchise agreement with

AWWG to grow Hackett London in Saudi Arabia and

the UAE. An active member of the Young Presidents’

Organization and the Chief Executives’ Organization,

Sima is recognised for her leadership. She continues

to drive growth through strategic partnerships

and understanding evolving consumer expectations.

Her approach combines operational excellence

with long-term, sustainable value creation.


Highlights

Industry

Oil and Gas

Established In

1971


UAE

Total Employees

10,000+

Sultan Ahmed Al Jaber

Managing Director & Group CEO,

Abu Dhabi National Oil Company (ADNOC)

H.E. Dr. Sultan Al

Jaber’s approach

emphasizes the

alignment of

economic growth

with sustainability,

leveraging

advanced

technologies and

strategic initiatives

to drive long-term

impact in energy

and industry.”

Bridging economic growth and environmental

responsibility through innovation.

H.E. Dr. Sultan Ahmed Al

Jaber is one of the UAE’s

most influential national

leaders, shaping the country’s industrial,

energy, and sustainability agenda

at a pivotal moment in its development.

He currently serves as the

UAE Minister of Industry and Advanced

Technology and as Managing

Director and Group Chief Executive

Officer of ADNOC, where he oversees

one of the world’s leading energy

companies while driving its transformation

for a low-carbon future.

Dr. Al Jaber has played a central

role in aligning economic growth

with environmental responsibility.

Under his leadership, ADNOC

has embedded sustainability into

its long-term strategy, investing

in decarbonisation technologies,

nature-based solutions, and advanced

digital tools. A strong advocate

of innovation, he has championed

the use of artificial intelligence,

automation, and advanced analytics

to improve operational efficiency

while reducing environmental impact

across the energy value chain.

As Minister of Industry and

Advanced Technology, he drives

industrial growth, advanced

manufacturing, and adoption of

cutting-edge technologies while promoting

economic diversification. His

environmental initiatives, including

a 10-million mangrove restoration

programme, support biodiversity

and carbon sequestration. Globally,

he is recognised for bridging

energy security and climate action,

advancing sustainable growth.


Talal Moafaq

Al Gaddah

Founder & CEO

KETURAH | MAG Lifestyle Development

Syed Basar

Shueb

CEO, Managing Director, & Board Member

International Holding Company (IHC)

Syed Basar Shueb has served as CEO, Managing

Director, and a member of the Board of

Directors of International Holdings Company

(IHC) since July 2019, leading one of the UAE’s

most diversified conglomerates. IHC’s operations

span financial services, food, healthcare, technology,

energy, and real estate, comprising over 1,300

subsidiaries and 87 joint ventures and associates.

By the first half of 2025, the group reported total

assets of $119 billion and revenues of $14.9 billion.

Under Shueb’s leadership, IHC has undertaken

transformative initiatives, including the announced

merger of flagship portfolio companies,

2PointZero, Multiply Group, and Ghitha Holding

into a next-generation investment holding company,

valued at approximately $32.7 billion in combined

assets. This entity, to be renamed 2PointZero,

will remain listed on the Abu Dhabi Securities

Exchange (ADX). The group also completed the

sale of its entire stake in Modon Holding, marking

the largest transaction in UAE market history.

Beyond IHC, Shueb leads Pal Group, chairs

Chimera Investments, and holds key board

roles, driving success across industries.

Talal Moafaq Al Gaddah is a pioneering figure

in the UAE’s real estate sector, serving as

CEO of MAG Lifestyle Development, Senior

Executive Vice Chairman of the MAG Group, and

Founder of KETURAH. He has led the creation of

landmark residential towers and mixed-use developments

that have reshaped the UAE’s urban

landscape, reflecting his commitment to innovation,

excellence, and transformative community design.

In 2022, Al Gaddah launched the Keturah brand,

redefining luxury living by integrating wellness,

sustainability, and community. Its first project, The

Ritz-Carlton Residences, Dubai Creekside, features

264 residences, private yacht parking, world-class

wellness and leisure facilities, and is pursuing the

region’s first WELL Health-Safety Rating certification.

Under his leadership, MAG Lifestyle Development

has grown to a $5 billion portfolio with 14

completed projects and seven underway, including

a strategic partnership with A++ Group for

developments in Switzerland and Italy. Known

for blending opulence with sustainability, Al

Gaddah continues to elevate global luxury real

estate by creating more innovative spaces.


Thomas

Pramotedham


Presight AI

Tariq Hussain

Khansaheb

Chairman

Khansaheb Group

Tariq Hussain Khansaheb, Chairman of Khansaheb

Group, is a distinguished leader in

the UAE’s construction and infrastructure

sector. With a career spanning several decades,

Tariq Hussain Khansaheb has steered the family-owned

enterprise through transformative growth,

blending the legacy of tradition with innovative

practices. His leadership reflects a steadfast commitment

to excellence, trust, and the enduring

values instilled by his father, His Excellency Hussain

Abdulrahman Khansaheb. Under Tariq Hussain

Khansaheb’s stewardship, Khansaheb Group has

delivered iconic landmarks while fostering a culture

of care for employees and communities alike.

Tariq Hussain Khansaheb earned a Civil Engineering

degree from the University of Colorado in

1982 and gained early experience in the UK with

Khansaheb Group. He returned to the UAE in 1985,

joining Khansaheb Civil Engineering LLC and eventually

becoming Chairman. Known for his hands-on

leadership, Khansaheb ensures projects uphold the

group’s standards of quality, and timely delivery. His

strategic vision and operational expertise make him

a respected leader in the UAE real estate landscape.

Thomas Pramotedham, Chief Executive Officer

of Presight, is widely recognised as a visionary

leader in digital transformation and a passionate

advocate for harnessing technology to drive

societal progress. Under his stewardship, Presight

has emerged as a key player in advancing smart

technologies across the Middle East, Central Asia,

and Africa, forming strategic partnerships that bolster

national development initiatives. His leadership

is strongly aligned with G42’s vision, championing

the UAE’s ambitious digital transformation agenda

and creating platforms that enhance both technological

capabilities and socio-economic impact.

Thomas Pramotedham, with 20+ years in technology,

leads Presight in using digital innovation

to tackle societal challenges. Former CEO of Esri

Singapore, he drove Smart Nation initiatives with

geospatial solutions that improved urban planning

and governance. His work combines strategic

foresight and practical execution to create inclusive,

resilient, and transformative communities.

He focuses on building collaborative networks

by aligning technology with sustainable development

goals,while ensuring measurable impact.


Talal Al Dhiyebi


Aldar Properties

Redefined regional retail, creating a global business

footprint and legacy.

Talal Al Dhiyebi has served

as Group Chief Executive

Officer of Aldar Properties

since 2021, guiding one of Abu Dhabi’s

leading real estate developers,

investors, and managers through

a period of strategic expansion

and diversification. Under his

leadership, Aldar has broadened

its footprint beyond Abu Dhabi to

Dubai, Ras Al Khaimah, and internationally

to the UK and Egypt,

cementing its status as one of the

region’s largest real estate groups.

Aldar operates through two

core business segments. Aldar

Development, the group’s master

development arm, manages

integrated, liveable communities

across the UAE, with an existing

development backlog of USD 15

billion and an additional strategic

third-party backlog of USD 25

billion. Aldar Investment focuses

on asset management, overseeing

a portfolio of investment-grade,

income-generating real estate assets

valued at over USD 13 billion. As

of December 2024, the group held

total assets of $23.3 billion and

generated $6.3 billion in revenues.

In September 2024, Aldar extended

its strategic partnership with

Mubadala through four new joint

ventures, collectively managing

Abu Dhabi assets valued at over

$8.2 billion. Talal also chairs several

Aldar businesses, including

Aldar Estates, Aldar Investment

Properties, SODIC in Egypt, and

London Square, while serving as

Vice-Chairman of Aldar Education.

He sits on the boards of prominent

organisations such as Abu Dhabi

Transport Company, Ethara, Miral

Asset Management, and Edamah,

Bahrain’s state real estate company.

Beyond his corporate responsibilities,

Talal is active in social and

community initiatives, contributing

to entities such as Sandooq Al

Watan, the UAE’s national social

fund, the Institute for Healthier Living,

and the executive committee of

Sorbonne University Abu Dhabi. His

strategic vision, coupled with a commitment

to community engagement,

has reinforced Aldar’s position as a

leader in regional and international

real estate development. Talal’s

strategic vision, combined with his

hands-on commitment to community

engagement, has strengthened

its reputation as a forward-thinking

leader in real estate development.

By integrating sustainable practices,

and corporate social responsibility,

he exemplifies a model of leadership

that balances business success

with meaningful societal impact.

Talal Al Dhiyebi’s

tenure reflects a

focus on integrated

development, asset

management, and

responsible growth,

positioning Aldar as a

forward-thinking leader

in the UAE and beyond.”


Highlights

Industry

Real Estate

Established In

2004


UAE

Total Employees

10,000+


Highlights

Industry

Technology

Established In

2019


155+

Total Employees

200-500

Tariq Bin Hendi

CEO and Board Member,

Astra Tech

Influencing investment, innovation, and sustainable

development across diverse sectors in the UAE.

H.E. Dr. Tariq Bin Hendi

serves as Chief Executive

Officer and Board Member

at Astra Tech, where he drives

strategic initiatives and operational

excellence. He also holds key leadership

positions as Strategic Advisor

at Global Ventures and Chairman of

Edelman Middle East, leveraging his

extensive experience in investment,

corporate strategy, and governance

to shape the growth trajectory of

organisations across the region.

Prior to his current roles, Dr. Bin

Hendi was Chief Investment Officer

at G42, overseeing investment strategies

for one of the UAE’s leading

technology and AI-focused companies.

He also served as Director

General of the Abu Dhabi Investment

Office, tasked with expanding

private sector activity in the Emirate

and strengthening the business ecosystem.

His distinguished career includes

leadership roles at prominent

institutions such as Emirates NBD,

Mubadala, and Citibank, reflecting a

depth of expertise in finance, investment,

and economic development.

Dr. Bin Hendi serves on key public

and private boards, driving strategic

decision-making, innovation, and

sustainable growth across multiple

sectors. With a PhD in Economics

and advanced degrees from Columbia

and London Business School,

he is a YPO member and continues

to advance investment, innovation,

and sustainable development,

cementing his role as a highly

respected and influential business

and thought leader in the region.

Under H.E. Dr.

Tariq Bin Hendi’s

leadership,

organisations

benefit from

strategic vision,

operational

excellence,

and a focus on

sustainable growth

and innovation

across multiple

sectors.”


Venkatesh

Santhanam

Founder and Managing Partner

MCA Auditing and Management

Consultants

Toon

Gyssels


talabat

Toon Gyssels is the Chief Executive Officer of

talabat, the leading on-demand delivery and

quick-commerce platform in the Middle East

and North Africa. Appointed CEO on November 21,

2025, Gyssels brings extensive experience across

technology, logistics, and scale operations, alongside

a strong track record of innovation within the region.

Gyssels previously served as COO of talabat, where

he scaled the company from 200 to more than 3,500

employees and led its evolution from a marketplace

model to a full logistics ecosystem. During this period,

he launched and expanded several key growth

engines, including tMart, quick commerce, cloud

kitchens, subscriptions, and non-food verticals.

Before joining Delivery Hero Group, Gyssels

co-founded Foodora (later acquired by Delivery Hero).

Most recently, he held senior leadership roles at

Kitopi, focusing on AI-enabled restaurant automation

and new venture growth, and supported early-stage

startups across fintech, AI, and autonomous delivery.

Gyssels holds a Master’s in Industrial Management

and a degree in Civil Engineering from KU Leuven,

and an Executive Master in Finance from the Solvay

Brussels School of Economics and Management.

Venkatesh is the Founder and Managing

Partner of MCA Auditing & Management

Consultants, a leading professional services

firm with a strong presence across the Middle East.

With over 36 years of experience in industry and

management consulting, he has guided organizations

through some of their most critical strategic

decisions, and complex market environments.

Under his leadership, MCA has grown into a

multidisciplinary professional services platform

with a team of over 160 professionals operating

across multiple countries. The firm has built a strong

reputation for delivering strategic advisory, financial

consulting, and business transformation services,

achieving an impressive three-year CAGR of 30%.

Among his key milestones is the establishment of

one of the first home-grown Pan-GCC professional

services firms and the creation of the GION Network,

a platform designed to connect global professionals.

Secretary General of the PIOCCI Gulf Chapter

and former ICAI Dubai Chairman (2011–2012), he

is an international speaker who supports Indian

Consulate initiatives and advises leaders in the

Middle East on building trust and resilience.


Highlights

Industry

Retail

Established In

1996


7+

Total Employees

3600+

Toufic Kreidieh

Co-Founder & Executive Chairman,

BFL Group

A retail network scaled regionally with innovation,

strategic development, and market expansion.

Toufic Kreidieh is a seasoned

Lebanese entrepreneur and

the Co-Founder and Executive

Chairman of BFL Group,

the parent company of Brands

For Less, one of the Middle East’s

most prominent off-price retail

chains. He opened the first Brands

For Less store in Lebanon in 1996,

motivated by a clear vision to

make high-quality, branded merchandise

accessible to a wider

consumer base. This approach

laid the foundation for a business

model centred on affordability,

variety, and customer satisfaction.

In 2000, Kreidieh relocated BFL

Group’s headquarters to Dubai, positioning

the UAE as the hub for regional

expansion. Under his leadership,

the group scaled rapidly across

the GCC and Southeast Asia, evolving

into a diversified retail platform.

BFL Group introduced complementary

concepts such as Toys For Less,

Homes For Less, and Luxury For

Less, alongside strategic international

partnerships that strengthened

its portfolio and market reach.

Today, BFL Group operates over

120 stores across seven markets,

supported by a growing omnichannel

model integrating physical

retail and e-commerce. In 2024, a

landmark transaction saw a 35%

stake sold to The TJX Companies,

Inc. for USD 360 million, valuing

the business at USD 1.2 billion

and supporting its next phase of

expansion. Driven by innovation,

the Group is comitted to advancing

growth across the Middle East.

BFL Group’s

regional expansion

and evolving

omnichannel model

reflect Toufic

Kreidieh’s vision

of making highquality,

branded

merchandise

accessible while

driving sustainable

business growth.”


Zaid S.

Al Khayyat

Managing Director & Board Member

Al Khayyat Investments (AKI)

Yogesh

Mehta

Founder & CEO

Petrochem Middle East

Yogesh Mehta is a distinguished business

leader and the visionary Founder and CEO

of Petrochem Middle East, a leading distributor

of petrochemical products and industrial

chemicals across the Middle East and North Africa

(MENA) region. With over 30 years of expertise

in the petrochemical industry, Mehta has

been instrumental in transforming Petrochem

Middle East into one of the region’s most successful

and diversified supply chain enterprises.

Founded in 1995, Petrochem Middle East is a

leading global distributor of solvents, chemicals,

and lubricants, serving customers in over 50 countries

across the automotive, construction, pharmaceutical,

and manufacturing sectors worldwide

and regionally, with consistent excellence. Under

Yogesh Mehta’s leadership, the company has built a

strong reputation for quality, reliability, and customer-focused

service, supported by state-of-the-art

facilities and a robust logistics network. Mehta’s

forward-looking approach emphasizes innovation,

sustainability, and ethical business practices,

alongside a strong commitment to corporate social

responsibility and community development.

Zaid S. Al Khayyat serves as Managing Director

of Al Khayyat Investments (AKI), steering the

group through a period of strategic transformation

marked by sustained growth, diversification,

and long-term value creation. Under his leadership,

AKI has strengthened its position as a multi-sector

enterprise while reinforcing governance structures

and operational excellence across its portfolio.

Building on the legacy established by his father,

Dr. Saad F. Al Khayyat, Founder and Chairman,

Zaid has successfully evolved the business from its

family-owned origins into a professionally managed

multinational organisation. While preserving its

core values, he has sharpened AKI’s strategic focus,

ensuring the group remains agile, future-ready, and

aligned with regional and global market dynamics.

Zaid’s leadership focuses on a people-first approach,

fostering talent, innovation, youth empowerment,

and collaboration, and high-performing

teams. AKI’s healthcare vertical is a key growth

engine in the UAE and Middle East, spanning

AKI Pharma, Medlab, and 150+ BinSina Pharmacies,

with a focus on expanding access, driving

innovation, and delivering patient-centric care.


Highlights

Industry

Technology

Established In

2001


166

Total Employees

17,200+

(Govt

Services)

Zubin Karkaria

Founder & CEO,

VFS Global

A global entrepreneur driving innovation and growth in

travel, tourism, and technology-enabled services.

An economic value creator,

Zubin’s success lies in his

sharp entrepreneurial sense

combined with organisation building

skills and deep understanding of

global business dynamics. Zubin is

not only a visionary global leader

but also deeply attuned to the

evolving technological landscape.

Zubin Karkaria’s greatest achievement

is the conception and remarkable

growth of VFS Global into the

world’s leading outsourced visa,

passport, and consular services specialist,

as well as a global leader in

trusted technology services. As of 31

December 2025, the company serves

69 client governments through

4,023 application centres across 166

countries.The company has handled

over 528 million applications

since its inception. Most recently,

the company recently acquired a

majority stake in CiX Citizen Experience,

a top Latin American citizen

services provider. In 2016, Zubin

was made Chevalier dans l’Ordre

National du Mérite by French President

François Hollande for three

decades of contributions to French

travel and tourism. Recognised for

his expertise, he has served on the

WTTC Executive Committee since

December 2022 and joined India’s

National Tourism Advisory Council

in June 2023.Headquartered in

Zurich and Dubai, VFS Global is

a Blackstone portfolio company,

proudly with minority stakes held

by Temasek, Switzerland-based

Kuoni & Hugentobler Foundation,

and UAE-based Dubai Holding.

“Our role today

goes far beyond

visa processing,

we are creating the

future of mobility

& public service

delivery through

innovative, techdriven,

secure and

scalable solutions

to enhance user

experience for

citizens and

travellers and for

the governments

we serve.”


Zulekha

Daud

Founder & Chairperson

Zulekha Healthcare Group

Ziad

El Chaar


DarGlobal

Ziad El Chaar is a seasoned real estate executive

with more than two decades of leadership

experience across some of the Middle East’s

most prominent property development companies.

He assumed his current role in 2020, leading Dar

Global, the international arm of Dar Al Arkan, and

has since played a central role in shaping its global

expansion and brand-driven development strategy.

Under Ziad El Chaar’s leadership, Dar Global has

built a diversified international portfolio across 14

cities in nine countries, partnering with brands like

the Trump Organization, Aston Martin, ELIE SAAB,

and W Hotels. In H1 2025, the company posted USD

155.4M in revenue, USD 1.8B in assets, and a gross

development value of USD 12.5B across 17 projects,

with 3,509 units sold. Chaar led the USD 1B Trump

Plaza Jeddah launch, expanding Dar Global significantly

in Saudi Arabia. He also holds leadership

roles at Bahrain Financing, Wasalt, SHL Finance,

and Quara, with past CEO positions at Emaar International,

Dar Al Arkan, and DAMAC. Known for

disciplined leadership, vision, and operational excellence,

he drives strategic growth, partnerships, and

long-term value in regional and global real estate.

Zulekha Daud is an Indian-born physician and

entrepreneur, best known as the founder and

chairperson of the Zulekha Healthcare Group,

a leading network of hospitals and medical facilities

in the United Arab Emirates and India. Widely

recognised as the first Indian woman to practise

medicine in the UAE, she arrived in the country

in 1964 after completing her medical education

at Government Medical College in Nagpur. Over a

career spanning several decades, she has earned

deep respect for her clinical expertise, resilience

and commitment to patient-centred care, affectionately

becoming known as “Mama Zulekha”.

Born in Maharashtra, India, Daud overcame

barriers to pursue medicine and moved to the Middle

East in 1962. She established a Sharjah clinic

in 1965, delivering over 10,000 babies, and later

founded Zulekha Hospital (Sharjah, 1992; Dubai,

2004), now part of the Zulekha Healthcare Group

serving hundreds of thousands annually. She also

advanced healthcare education through Zulekha

College and medical initiatives, research, and training,

and remains active in philanthropy, shaping the

region’s healthcare landscape well into her 80s.


Business


Government and financial districts in the UAE reflects long-term economic planning momentum.

How the New Federal

Budget Impacts

Businesses and

Investors

The UAE’s Latest Federal Budget Outlines

Strategic Priorities Shaping Business Growth,

Investment Confidence and Economic Stability

The UAE’s newly approved federal budget

represents a defining moment in the

country’s fiscal and economic strategy,

signalling confidence in long-term growth

and institutional stability. As the largest

federal budget to date, it reflects a clear

commitment to sustainable development,

economic diversification and enhanced

global competitiveness. Increased allocations

across priority sectors are set

to influence business sentiment, capital

deployment and investment planning in the

year ahead. For corporates, investors and

market participants, the budget provides

valuable insight into government priorities,

policy continuity and the broader economic

environment shaping commercial

decision making across the UAE.


The UAE has approved its largest-ever

federal budget for 2026,

with estimated revenues and

expenditures at Dh92.4 billion, marking

a significant shift from previous fiscal

plans and demonstrating the country’s

commitment to balanced development,

economic resilience and long-term

growth. This expansionary fiscal framework

underscores strategic priorities

in social development, infrastructure,

government affairs and investment,

with tangible implications for business

and investor decision-making as the

nation advances its economic agenda.

From a B2B perspective, the scale

and orientation of the federal budget

send strong signals of economic confidence.

The nearly 30 % increase in

both projected revenues and spending

The federal budget for

the fiscal year 2026

represents a milestone in

the journey of government

work, reflecting strong

confidence in the

national economy and

its continued ability to

achieve progress across

various sectors.”

H.E. Sheikh Maktoum bin Mohammed bin

Rashid Al Maktoum, First Deputy Ruler of

Dubai, Deputy Prime Minister and Minister

of Finance, UAE

compared with the 2025 budget illustrates

fiscal strength and an intent to

accelerate public-sector participation in

economic growth. Greater government

outlays generally act as a catalyst for

private sector activity, particularly in

sectors where government demand

can create multiplier effects across

supply chains.

Key Takeaways for Business and

Investors

• Increased public spending strengthens

demand across infrastructure,

education, healthcare and digital

transformation, creating new contracts

and partnership opportunities

for private sector players.

• Fiscal stability and balanced budgeting

improve long-term visibility

for investors, supporting capital

allocation decisions and reducing

sovereign risk exposure.

• Clear policy continuity around taxation

and regulatory frameworks

enables businesses to plan medium- to

long-term investments with greater

certainty.

• Stronger global integration through

trade and economic agreements

enhances cross-border investment

flows and supports multinational

expansion strategies.

• SMEs and innovation-led firms stand

to benefit from indirect spillovers,

including higher government procurement,

skills development and

technology adoption.

• Investor confidence is reinforced by

disciplined fiscal management, strong

credit fundamentals and sustained

foreign direct investment momentum.

Amplified investment incentives and

economic diversification lie at the heart

of the 2026 budget’s business impact. By

allocating increased resources to strategic

sectors and enabling programmes

that support sustainable development,

the government is enabling opportunities

for businesses to scale operations,

pursue innovation and participate in

public-sector projects. For example,

enhanced spending on infrastructure,

education, health and digital transformation

initiatives translates into a wider

pipeline of contracts and partnerships

for domestic and international firms.

It also enhances workforce quality,

which benefits investors seeking skilled

human capital.

The budget also reinforces the UAE’s

role as a global investment hub. The

approval of 35 international economic

and cooperation agreements alongside

the budget reflects a policy environment

geared toward expanding trade

and investment flows. For investors,

this signals ongoing liberalisation and

deeper integration into global markets,

with preferential frameworks that can

boost cross-border capital movement

and joint ventures. The federal budget

enhances financial certainty, making

the UAE more attractive for long-term

commitments.

Another key implication is the government’s

emphasis on foreign direct

investment (FDI) dynamics. Federal

authorities reported outward foreign

investment balances exceeding

Dh1.05 trillion, showcasing the UAE’s

growing footprint in global capital

markets. These figures, driven by federal

strategy and reinforced through

budget support, position the UAE as a

leading outbound investor among Arab

economies and one of the world’s top

20 in FDI outflows. The widening scope

for capital allocation can encourage

institutional investors and sovereign

wealth funds to diversify their portfolios

with UAE-based assets.

Tax policy continuity and clarity

underpins fiscal stability and investor

confidence. Although the UAE has

already introduced a corporate tax

regime and aligned with international

standards such as the OECD Pillar

Two framework, the federal budget’s

structure helps businesses plan for

medium-term obligations with predictable

fiscal rules. Consistent application

of tax policy reduces uncertainty and

administrative risk for investors, particularly

multinational corporations

operating across jurisdictions. This

continuity supports capital inflows

and reinvestment decisions, strengthening

the UAE’s position as a regional

financial centre.

The 2026 budget also shapes the

broader business environment through

targeted programmes that support the

Federal Financial Centre and other

institutional frameworks. By integrating

federal allocations into financial

ecosystem development, the government

enhances institutional resilience,

which benefits capital markets, banking

sectors and financial services firms.


Business News

Binghatti Holding’s USD 500mn Five-Year Sukuk Oversubscribed 4.4 Times

Binghatti Holding, the UAE-based

property developer, has priced a

USD 500mn five-year benchmark

sukuk under its USD 1.5bn Trust Certificate

Issuance Programme, attracting

demand far exceeding the size of the

offering.

The issuance generated an order

book of approximately USD 2.46 bn,

representing oversubscription of 4.4

times. International investors accounted

for around 51 per cent of allocations,

reflecting broad global appetite for

the company’s credit. The sukuk was

priced at a profit rate of 8.375 per cent,

translating into a spread of 461 basis

DIFC Launches VCC

Framework for Multi-Asset

Investments

Dubai International Financial

Centre (DIFC) has introduced

new Variable Capital Company

(VCC) Regulations aimed at significantly

expanding investment structuring

capabilities and enhancing asset

management flexibility for proprietary

investments within the centre. The

updated framework allows VCCs to be

established for proprietary investment

purposes without requiring separate

authorisation from the Dubai Financial

Services Authority, provided they are

not conducting regulated financial

services activities. This move simplifies

the setup process while maintaining

regulatory clarity. According to DIFC

Authority, the introduction of the regime

reinforces the centre’s position as a

leading global hub for sophisticated

investment vehicles. The framework

has been designed to accommodate a

broad range of investor needs while

upholding robust governance and

compliance standards.

points over five-year US Treasuries.

Carrying a maturity of five years and

six months, the deal marks one of the

longest tenors achieved by a private

UAE real estate developer in the sukuk

market. The strong investor response

highlights confidence in Binghatti’s

financial position and funding strategy,

underlining the company’s robust track

record in delivering high-quality developments.

Furthermore, the successful

issuance provides additional liquidity

to support its projects, strengthen its

balance sheet, and accelerate expansion

plans both domestically and in select

international markets.

PureHealth Recommends $163M Dividend amid

Rising Profit and Revenue

PureHealth, the Middle East’s

largest healthcare platform,

has announced plans to issue a

dividend following double-digit growth

in net profit, supported by increased

capacity, diversified services, and a

growing patient base. The company

has recommended a dividend payout

of AED600 million ($163 million) for

2025, representing 30 percent of net

profit, to be distributed in two equal

semi-annual installments. Net profit

Dubai Holding has divested its

entire 24% stake in Emirates

Central Cooling Systems Corporation

(Empower) to Dubai Electricity

and Water Authority (DEWA)

in a transaction valued at AED 5.184

billion (USD 1.411 billion). The acquisition

increases DEWA’s shareholding

in the district cooling company from

56% to 80%, strengthening its strategic

position within Dubai’s utilities sector.

The move enables DEWA to secure

majority control of the world’s largest

district cooling network and further

streamline Empower’s operations under

its broader infrastructure portfolio.

The agreement has now been formally

concluded by both parties. Empower,

which is listed on the Dubai Financial

Market (DFM), currently commands a

market capitalization of around AED

climbed 18 percent to AED2 billion

last year, despite the tax rate rising

to 15 percent from 9 percent in 2024,

according to a statement submitted

to the Abu Dhabi Securities Exchange

(ADX). Annual revenue increased by 6

percent to AED27.3 billion, buoyed by

strong performance across PureHealth’s

two main segments: cover and care. The

robust financial results underscore the

company’s resilience and highlight its

continued focus on sustainable growth.

Dubai Holding Divests 24% Empower Stake to

DEWA for USD 1.4B

17.9 billion, underscoring its scale and

significance within the emirate’s energy

and utilities landscape.


Burjeel Holdings Posts 39.5% Net Profit Growth in 2025

Burjeel Holdings reported unaudited

preliminary results

for the year ended December

31, 2025, posting revenue of AED 5.5

billion, up 9.8% year-on-year, as total

patient visits exceeded 7 million, an

8.4% increase. Growth was supported

by specialized services aligned with

local demand and the ramp-up of

newly launched facilities. EBITDA

rose 19.9% to AED 1.09 billion, while

Mubadala Sells Minority

Stake in Arcadia Consumer

Healthcare

Abu Dhabi’s sovereign wealth fund

has fully exited its minority stake

in Arcadia Consumer Healthcare,

coinciding with the company’s

acquisition by funds managed by Bansk

Group. Moreover, the fund had held

its position for four years alongside

Bansk, supporting the company’s rapid

growth. Financial details of the transaction

were not disclosed. During this

period, Arcadia’s revenue tripled, while

profitability improved significantly.

Additionally, strategic acquisitions of

Avrio and CloSYS complemented organic

growth, establishing the platform

as a leading North American player in

over-the-counter medicines, premium

vitamins, and nutritional supplements.

As a result, the company strengthened

its position in a highly competitive

consumer healthcare market.

the margin expanded to 19.8% from

18.1% in 2024. Consequently, net profit

increased 39.5% to AED 503 million,

with the net margin improving to 9.1%.

In the fourth quarter alone, net profit

surged 159.9% year-on-year, reflecting

operating leverage and cost discipline.

Inpatient volumes grew 11.7%, driven

by oncology, cardiology, gastroenterology

and orthopedics. Meanwhile,

outpatient footfall rose 8.3%.

DEWA to Raise Empower Stake from 56% to 80%

Dubai Electricity and Water

Authority PJSC (DEWA) has

completed the transfer of the

entire shareholding of Emirates Power

Investment LLC in Emirates Central

Cooling Systems Corporation PJSC

(Empower) through Dubai Central

Securities Depository LLC. Under

the transaction, DEWA acquired 2.4

billion shares in Empower, thereby

increasing its ownership to 80%. As a

result, the utility further consolidated

its strategic position in Dubai’s district

Aldar and Mubadala Investment

Company have completed a strategic

joint venture to establish a

large-scale retail platform to support Abu

Dhabi’s development as a global destination

for luxury retail. Moreover, the

platform consolidates two of the emirate’s

flagship assets under a single operating

structure. Under the transaction, Aldar

contributed Yas Mall, while Mubadala

added The Galleria Luxury Collection.

cooling sector. The transaction marks a

milestone in DEWA’s long-term growth

strategy. Moreover, it aligns with Dubai’s

broader infrastructure and sustainability

agenda by advancing integrated utility

solutions and promoting low-carbon

district cooling expansion. Therefore,

the deal further strengthens DEWA’s

capacity to support energy efficiency

objectives, optimize resource utilization,

and reinforce long-term value creation

in core utility-adjacent sectors across

the emirate.

Aldar and Mubadala Complete AED 10 billion

Retail Joint Venture

As a result, the platform brings together

prime income-generating assets with a

combined gross asset value of about

AED10 billion. Additionally, occupancy

levels remain strong, with Yas Mall at 99

percent and The Galleria Luxury Collection

at 92 percent, supporting predictable

cash flows. The joint venture deepens the

long-term partnership and complements

the recently announced AED60 billion-plus

expansion of Al Maryah Island.


Digital Assets


EmCoin’s regulated platform showcases secure multi-asset trading within the UAE’s compliant digital finance framework.

EmCoin Sets a New

Standard with UAE’s

First Regulated Multi-

Asset Platform

A Regulated Multi-Asset Platform Enabling

Institutions to Access Digital Assets with

Confidence and Compliance

EmCoin’s launch marks a pivotal moment

in the UAE’s digital finance journey, introducing

the country’s first fully regulated

multi-asset platform at a time when trust

and transparency are reshaping global

markets. As digital assets move steadily

into the financial mainstream, regulatory

clarity has become a defining factor for

institutional adoption. EmCoin responds

to this shift by combining innovation with

compliance, offering investors and enterprises

a secure, regulated gateway to

diversified digital assets. Its entry reflects

the UAE’s broader strategy of fostering

responsible financial innovation while

reinforcing its position as a leading hub

for next-generation financial services.


EmCoin’s emergence as the UAE’s

first regulated multi-asset digital

platform signals a decisive shift

in how the region approaches digital

finance, asset tokenisation and investor

protection. Operating within a fully

compliant regulatory framework, the

platform reflects the UAE’s broader

ambition to position itself as a global

benchmark for trusted, innovation-led

financial ecosystems.

At its core, EmCoin addresses a

critical gap that has long challenged

the digital asset industry: the tension

between innovation and regulation.

While global markets have seen rapid

experimentation in crypto assets,

tokenised securities and digital commodities,

many platforms have operated

in loosely defined regulatory environments.

This has limited institutional

participation and raised concerns

around transparency, governance and

consumer protection.

EmCoin Strengthens the UAE’s

Regulated Digital Asset Market

EmCoin’s regulated status directly

responds to these concerns, offering

a structure that aligns with both international

compliance standards and the

UAE’s evolving digital asset regulations.

The platform’s multi-asset architecture

is particularly significant for

institutional and sophisticated investors.

Rather than focusing solely on

cryptocurrencies, EmCoin enables

access to a diversified range of digital

assets within a single regulated

environment. This approach supports

portfolio diversification while reducing

operational complexity for investors

who would otherwise need to engage

with multiple platforms, each governed

by different risk and compliance standards.

By consolidating asset classes

under one compliant framework,

EmCoin enhances efficiency without

compromising regulatory oversight.

From a regulatory perspective, Em-

Coin reinforces the UAE’s reputation as

a jurisdiction that actively shapes the

future of finance rather than reacting

to it. Over the past decade, the country

has invested heavily in regulatory infrastructure

that balances innovation with

risk management. Financial free zones,

progressive licensing regimes and clear

supervisory mandates have created

an environment where new financial

models can be tested responsibly.

EmCoin’s launch demonstrates how

these policies translate into real-world

platforms capable of operating at scale

while maintaining market integrity.

Trust remains a defining factor in the

adoption of digital assets, particularly

among institutional players. EmCoin’s

regulated status provides a level of

assurance that is often absent in unlicensed

platforms. Robust governance

frameworks, compliance protocols and

transparent operational standards help

mitigate risks related to custody, asset

valuation and transactional integrity.

For businesses exploring digital assets

as part of their treasury, investment or

payment strategies, such safeguards

are no longer optional; they are a

prerequisite for engagement.

The platform also aligns closely

with the UAE’s broader economic

diversification agenda. As the country

accelerates its transition towards a

knowledge-based economy, digital

finance is emerging as a key growth

pillar. Platforms like EmCoin contribute

to this shift by attracting capital, talent

and technology into the local ecosystem.

Beyond direct financial activity, they

support adjacent sectors such as legal

services, cybersecurity, compliance

technology and data analytics, creating

a multiplier effect across the economy.

EmCoin’s model is particularly relevant

at a time when global regulators

are tightening oversight of digital assets.

In many markets, regulatory uncertainty

has slowed innovation, forcing

companies to navigate fragmented

or ambiguous rules. By contrast, the

UAE’s proactive regulatory stance

offers clarity, enabling platforms to

design compliance into their operating

models from the outset. This clarity

not only reduces regulatory risk but

also enhances the platform’s credibility

with cross-border partners and

international investors.

For enterprises, the implications extend

beyond investment opportunities.

Regulated multi-asset platforms can

play a strategic role in modernising

financial operations, from cross-border

settlements to asset-backed tokenisation.

EmCoin’s framework opens the

door for businesses to explore digital

representations of real-world assets

within a compliant environment, potentially

improving liquidity, transparency

and operational efficiency. As tokenisation

gains traction globally, such

platforms are likely to become integral

to enterprise financial strategies.

The launch also underscores the

growing convergence between traditional

finance and digital assets. Rather

than positioning itself as a disruptive

alternative to established systems,

EmCoin integrates regulatory best

practices commonly associated with

conventional financial institutions. This

convergence is critical for mainstream

adoption, as it bridges the cultural and

operational divide that has historically

separated digital asset platforms from

institutional finance.

Looking ahead, EmCoin sets a precedent

that may influence how other

platforms approach market entry in

the UAE and beyond. Regulation is no

longer viewed as a constraint but as a

competitive advantage, particularly in

markets where investor confidence and

long-term sustainability are paramount.

As the digital asset sector matures,

platforms that prioritise compliance,

transparency and governance are

likely to attract more stable capital

and strategic partnerships.

Crypto is becoming a

global infrastructure and

the UAE will continue to

think ahead, innovate, and

shape the next chapter of

the digital future.”

H.E. Omar Sultan Al Olama, UAE Minister

of State for Artificial Intelligence, Digital

Economy, and Remote Work Applications


Interview

MANOJ SUREKA

CEO & Managing Partner,

Synergy Fin. Consulting


How Federal Rules Are

Changing Investments

The UAE is emerging as a key gateway to global capital, with over 1.4 million registered companies highlighting a

dynamic business ecosystem. This growth is creating new opportunities for regional firms to attract international

investment, scale globally, and engage in the UAE’s expanding role as a hub for trade, finance, and innovation.

Exclusive Interview

Q: What prompted the UAE to overhaul

its capital markets regulatory

framework?

The UAE’s capital markets have grown

rapidly in scale and complexity, driven

by foreign investment, fintech innovation,

and regional integration. The old framework

was fragmented and less equipped

to handle modern challenges, including

cross-border offerings, digital assets, and

investor protection in a global context.

The new federal framework consolidates

authority under the Capital Market Authority

(CMA), streamlines oversight,

and ensures the UAE meets international

regulatory standards.

Q: How does the new framework enhance

investor protection?

Investor protection is central to the

overhaul. The CMA now has enhanced

enforcement powers, including larger

fines, criminal penalties for serious

misconduct, and authority to intervene

in systemically important entities. New

mechanisms like an Investor Protection

Fund strengthen confidence that the market

is fair, transparent, and accountable.

Additionally, statutory liability for issuers

and advisors ensures disclosure obligations

are enforced rigorously.

Q: What are the implications for issuers

and market participants?

Issuers, brokers, and fund managers

now operate under clearer, unified rules.

Prospectus requirements, margin lending

clarifications, and price-stabilisation guidance

reduce ambiguity, making compliance

predictable. Cross-border offerings

and digital assets fall under regulatory

purview when targeting UAE investors,

The new federal

capital markets

framework marks

a decisive shift

from market

expansion to

market maturity,

placing investor

protection and

transparency

at the heart of

growth.”

which encourages innovation while maintaining

oversight.

Q: How does this framework position

the UAE in the global capital markets

landscape?

By aligning with international best practices

and modernising regulatory tools,

the UAE signals that it is open for sophisticated

global capital. The integration of

virtual assets under regulated frameworks,

alongside traditional equities and debt,

demonstrates forward-looking leadership.

This attracts international investors seek-

ing a stable, well-regulated environment

in the MENA region while providing UAE

issuers with access to deeper capital pools.

Q: What are the expected near-term

market impacts of the new framework?

In the near term, we anticipate increased

investor confidence, more cross-border

listings, and higher foreign inflows into

both equities and debt markets. The clarity

and enforcement strength provided by

the CMA may lead to improved market

discipline and more structured growth

in sectors like fintech and digital assets.

INVESTOR READINESS

I advise regional business leaders to engage

early with international investors.

In the UAE’s dynamic ecosystem, delays

can hinder global growth. Treat it as a

step-by-step process guided by five key

questions, not just capital attraction.

Is your governance and reporting investor-ready?

Can your business scale across borders?

Are you in sectors attractive to foreign

investors?

Are operations efficient and structured?

Are risks and regulations clearly understood?

Answering these questions helps

leaders spot high-impact, low-risk opportunities

to engage global investors,

scale, and leverage the UAE’s growing

hub status.


FinTech


The FIDA Cluster in Abu Dhabi fosters fintech collaboration, infrastructure development, and smart financial solutions.

FIDA Cluster Launch:

Abu Dhabi Reinvents

Fintech and Alternative

Finance

Abu Dhabi’s FIDA Cluster Drives FinTech

Innovation, Alternative Finance Growth, and

Data-Driven Financial Transformation.

Abu Dhabi’s launch of the Financial Infrastructure

and Data Analytics (FIDA)

Cluster marks a significant milestone

in the emirate’s journey to redefine its

financial landscape. The initiative aims

to accelerate fintech innovation while enhancing

alternative finance solutions and

data-driven financial services, signalling

a move towards an integrated, ecosystem-led

approach. By emphasising robust

infrastructure, advanced analytics, and

forward-looking regulatory frameworks,

FIDA provides a platform for sustainable

growth and global collaboration. The cluster

strengthens Abu Dhabi’s position as

a hub for international financial institutions,

investors, and technology firms,

while supporting the development of a

resilient, future-ready financial sector.


Abu Dhabi’s launch of the Financial

Infrastructure and Data

Analytics (FIDA) Cluster marks

a decisive evolution in how the emirate

approaches fintech, alternative

finance, and data-driven financial

services. Rather than positioning itself

as merely a host for innovation, Abu

Dhabi is signalling its intent to become

a systems architect—building the

regulatory, technological, and capital

frameworks required for next-generation

financial ecosystems. The cluster

reflects a deliberate move away from

siloed fintech experimentation towards

an integrated platform that supports

scalable, enterprise-grade financial

innovation.

The FIDA Cluster is designed to

bring together fintech firms, alternative

lenders, data analytics providers,

and financial institutions within a

unified regulatory and operational

environment. This structure allows

innovation to be embedded directly

into the financial system, rather than

operating at its edges. For Abu Dhabi,

the objective is clear: to future-proof

its financial sector while attracting

global capital, talent, and technology.

Redefining Fintech Beyond Payments

and Wallets

Unlike earlier fintech waves that focused

heavily on consumer payments

and digital wallets, the FIDA Cluster

places strong emphasis on infrastructure-led

innovation. Areas such as

embedded finance, regulatory technology,

digital asset infrastructure, and

AI-driven risk assessment form the

backbone of the initiative. This signals

a maturity in the market, where fintech

is no longer viewed as a disruptor of

banks, but as a strategic enabler of

financial resilience and efficiency.

The cluster also acknowledges the

growing importance of alternative

finance models. Peer-to-peer lending,

private credit platforms, crowdfunding

structures, and tokenised assets

are increasingly filling funding gaps

left by traditional banking channels.

By creating a controlled yet innovation-friendly

environment, Abu Dhabi

is positioning itself as a hub where alternative

finance can scale responsibly,

supported by robust governance and

data transparency.

Data as the New Financial

Infrastructure

At the core of the FIDA Cluster is a

strong focus on data analytics and digital

infrastructure. Financial services are

becoming increasingly data-intensive,

with decision-making driven by real-time

analytics, predictive modelling,

and machine learning. The cluster’s

emphasis on data governance, interoperability,

and secure data-sharing

frameworks reflects an understanding

that data is now as critical to finance

Abu Dhabi’s economic

strategy is built on

long‐term horizon

planning and the principle

that capital, talent and

innovation must flow

through world‐class

infrastructure. The FIDA

Cluster is a structural

investment for the

future, strengthening

the foundations of

next‐generation finance

and reinforcing Abu

Dhabi’s global positioning

as the Capital of Capital.”

H.E. Ahmed Jasim Al Zaabi, Chairman, Abu

Dhabi Department of Economic Development

(ADDED)

as capital itself.

This approach aligns with global

trends where financial competitiveness

is determined not just by liquidity, but

by the ability to analyse risk, detect

fraud, personalise services, and meet

regulatory expectations efficiently.

For firms operating within the cluster,

access to advanced data infrastructure

offers a significant competitive

advantage, particularly in areas such

as credit scoring for underbanked

segments, climate risk assessment,

and compliance automation.

Strengthening Abu Dhabi’s Appeal

to Global Capital

The FIDA Cluster also plays a strategic

role in enhancing Abu Dhabi’s attractiveness

to international investors and

financial institutions. Global capital

increasingly favours jurisdictions

that combine regulatory clarity with

innovation readiness. By offering a

purpose-built environment for fintech

and alternative finance, Abu Dhabi

reduces entry barriers for global firms

seeking Middle East exposure while

maintaining high standards of oversight.

This is particularly relevant as institutional

investors explore new asset

classes, including private markets and

digital assets. The cluster provides a

platform where these activities can be

developed within a credible regulatory

framework, mitigating risk while enabling

innovation. For multinational

financial firms, this balance is critical

when deciding where to base regional

operations or pilot new financial

products.

Regulatory Innovation as a Competitive

Advantage

A defining feature of the FIDA Cluster

is its alignment with regulatory innovation.

Abu Dhabi has consistently adopted

a collaborative approach between

regulators and market participants,

and the cluster builds on this foundation.

Regulatory sandboxes, adaptive

licensing models, and ongoing dialogue

between firms and authorities allow regulation

to evolve alongside technology.

This approach reduces uncertainty for

businesses while ensuring consumer

protection and systemic stability. Rather

than retrofitting rules after innovation

has occurred, the FIDA framework

allows compliance considerations to

be integrated from the outset.


FinTech News

Smart Bricks Secures USD 5M to Use Agentic AI for Automated RE Investing

Dubai-based proptech startup

Smart Bricks has raised USD

5 million in a pre-seed funding

round led by Andreessen Horowitz’s

a16z Speedrun, with participation from

a range of global venture capital firms

and angel investors. The company is

developing an agentic AI-powered infrastructure

that automates core real

estate investment workflows, including

sourcing, valuation, underwriting, due

diligence and execution, compressing

processes that traditionally take weeks

or months into minutes. Smart Bricks

ingests and analyses more than one million

public and proprietary data feeds to

identify high-quality opportunities and

rank them by expected risk-adjusted

returns. Its platform is designed to

serve both individual and institutional

investors in major markets such as

Dubai, London, New York and Miami.

du Pay and Deem

Finance Introduce

Flexi Cash Loans

du Pay, the digital financial services

arm of UAE telecom operator du,

has teamed up with regulated lender

Deem Finance to launch Flexi Cash

Loan, a fully digital short-term lending

product designed to improve access

to credit for expatriate workers in the

UAE. The service is embedded directly

into the du Pay wallet, combining du

Pay’s extensive digital ecosystem with

Deem’s licensed lending capabilities

and Airvantage’s credit decisioning

technology to deliver a streamlined,

end-to-end borrowing experience. The

product targets expats with limited

traditional credit histories, using inapp

transaction and behaviour data to

assess eligibility and offer transparent

short-term loans with a fixed one-time

fee and flexible monthly repayments

aligned to income cycles. Loans can

be used for everyday needs such as

expenses, emergencies, remittances

or travel, addressing a gap left by

conventional banks.

Baidu and Uber Set to Launch Apollo Go

Autonomous Ride-Hailing in Dubai

Chinese tech giant Baidu and

ride-hailing leader Uber have

confirmed that they will introduce

Apollo Go autonomous ride-hailing

services in Dubai next month, bringing

fully driverless vehicles onto the Uber

platform in select areas of the Jumeirah

district as part of the emirate’s broader

smart mobility initiative. The initiative is

backed by Dubai’s Roads and Transport

Authority (RTA) and aligns with the

city’s target of having 25% of all trips

Dubai has taken a major step in

its blockchain-driven property

strategy by launching Phase

II of the Real Estate Tokenisation

Project, which enables regulated secondary-market

trading of tokenised

property assets from 20 February 2026.

The move follows a pilot stage that

autonomous by 2030. Passengers will

be able to select autonomous trips via

the Uber app, either by choosing the

“Autonomous” option or being matched

with an Apollo Go vehicle when booking

Uber Comfort or UberX services.

This deployment builds on the global

partnership between Baidu and Uber

to expand robotaxi operations beyond

China and the U.S., leveraging Uber’s

network to accelerate the adoption of

self-driving transport.

Dubai Launches Phase II Of Real Estate

Tokenisation, Opening Secondary Market Trading

tested legal, technical and regulatory

frameworks for converting real estate

title deeds into digital tokens under

the Real Estate Innovation Initiative

led by the Dubai Land Department

(DLD) in partnership with the Virtual

Assets Regulatory Authority (VARA)

and strategic partners.


OSN Launches Fiat-to-Stablecoin Corridor for UAE–Philippines Trade

Open Stable Network (OSN),

a global on-chain foreign exchange

infrastructure provider,

has launched a new fiat-to-stablecoin

FX settlement corridor connecting the

UAE and the Philippines, offering businesses

a faster, cost-efficient option for

bilateral payments and FX settlement.

The corridor enables seamless, bi-directional

transfers between traditional

currencies like the UAE dirham (AED),

Equiti Group Partners

with Checkout.com

to Accelerate Global

Payments

Equiti Group, a Dubai-based

fintech firm, has partnered

with Checkout.com to expand

Equiti Pay’s payment capabilities

and improve acceptance rates. The

partnership enables card deposits,

pay-to-card transfers, and support for

digital wallets, including Apple Pay

and Google Pay, as well as cross-border

transactions. Clients can expect

faster funding, smoother withdrawals,

and a broader range of payment

options, with improved speed and

reliability for time-sensitive domestic

and international transactions. The

collaboration combines Checkout.

com’s global acquiring network and

fraud-prevention technology with Equiti’s

data-driven approach. Checkout.

com uses AI and recent innovations to

deliver scalable payment solutions,

while Equiti brings market knowledge

and client demand, creating a more

robust payments ecosystem.

Philippine peso (PHP), US dollar (USD)

and euro (EUR), and a range of stablecoins,

bypassing the high fees and

slow processing associated with legacy

correspondent banking systems. OSN

says this blockchain-based framework

can cut transaction costs by up to 50%

compared with conventional payment

platforms, while reducing latency and

improving liquidity for corporate payroll,

supplier.

Omnispay Raises USD 2M Pre-Series A for AI Finance

UAE-based fintech Omnispay has

closed a USD 2 million Pre-Series

A funding round led by Infinity

Value Capital Group to accelerate its

transition from a rapid-settlement payments

provider into a full-stack finance

platform tailored for small and medium-sized

enterprises (SMEs) across the

GCC region. The new capital will support

the expansion of integrated Collect, Pay

and Borrow workflows that help businesses

manage cash flow, receive quicker

OFZA Fintech Virtual Asset Exchange,

a UAE-based regulated

virtual asset service provider,

has entered into a non-binding strategic

collaboration with Paris-based fintech

Trakx to advance research into crypto

tradable index methodologies. The partnership

focuses on developing structured,

rules-based index frameworks including

transparent criteria for asset selection,

weighting mechanisms and periodic rebalancing

models. The initiative is designed

to support institutional and professional

investors seeking deeper insight into digital

asset market segments, risk exposure

and diversification strategies. Rather than

introducing new investment products,

payouts, and access embedded credit,

addressing chronic liquidity challenges

faced by SMEs. Over the past year, Omnispay

has doubled its customer base,

quadrupled processing volumes and

significantly increased revenue, driven

by its proprietary AI-powered risk engine,

ARIES, which monitors transactions in

real time to manage risk and underwriting.

The company plans further regional

growth, including entry into markets like

Saudi Arabia.

OFZA and Trakx Partner to Strengthen Research

on Crypto Index Methodologies

the collaboration centres on research,

governance standards and knowledge

sharing to encourage informed industry

dialogue. The move reflects the UAE’s

broader ambition to strengthen regulated

digital asset infrastructure.


Investment


Business sectors in the UAE experience elevated demand from consumers during the Ramadan period.

Ramadan Spending,

Market Gains: Where

Investors Should Look

This Season

Ramadan-Driven Consumer Activity Creates

Strategic Investment Opportunities across

Retail, and Financial Services

Ramadan, observed by millions globally,

is a period of spiritual reflection and

heightened social activity. Beyond its

religious significance, the month drives

notable economic shifts as consumers

increase spending on groceries, gifts,

clothing, and services ahead of Eid. Retailers,

food outlets, hospitality providers,

and digital platforms often experience

elevated demand, while financial services

and payment solutions see increased activity.

For investors, understanding these

seasonal patterns and aligning them with

broader market trends is essential to identifying

opportunities and managing risk.

In 2026, with resilient consumption, stable

commodity prices, and growing digital

adoption, the Ramadan period presents

multiple avenues for strategic investment.


Ramadan, the holy month observed by

millions around the world, represents

more than spiritual reflection. It is also

a powerful economic catalyst. From

heightened consumer spending on

food and gifts to increased demand

for services and travel, the month

often drives distinct shifts in market

behaviour across sectors. For investors

seeking opportunities this season, understanding

these patterns and aligning

them with broader economic trends is

key to spotting potential growth areas

and managing risk.

In 2026, Ramadan aligns with strong

global macroeconomic themes, including

resilient consumption in key

emerging markets, stable commodity

prices, and increasing digital adoption.

These factors accentuate opportunities

beyond traditional seasonal plays. The

following analysis explores where

investors might focus to harness Ramadan-related

demand as part of a

diversified strategy.

One of the most visible effects of

Ramadan is a surge in consumer activity.

Households increase spending on

groceries, dates, sweets, beverages, and

other essentials, along with gifts and

clothing, ahead of Eid. This spending

bump often translates to strong quarterly

performance for retail companies.

Food and Grocery Retailers

Supermarkets and food retail chains

tend to benefit significantly from Ramadan

spending. Demand for staples

like rice, flour, dairy, and produce

typically rises, supporting revenue

growth in these segments. Investors

might consider exposure to well-positioned

food retailers with broad

distribution networks and efficient

inventory management. Companies

with strong in-store and online grocery

sales channels could outperform

competitors, as convenience becomes

a deciding factor for consumers during

a busy month.

Fashion and Apparel

Ramadan and Eid represent occasions

for new clothing purchases. Fashion

retailers, especially those that cater to

modest wear and festive collections,

can see an uplift in sales. Brands that

execute targeted marketing campaigns

and seasonal collections often capture

outsized gains. Investors should look at

firms with strong retail footprints and

The field visits focused

on ensuring that retail

outlets adhere to the new

pricing policy for the

nine essential consumer

goods, preventing

unjustified price

hikes, and displaying

product prices clearly

and understandably

for consumers. This

initiative aligns with the

Ministry’s strategic goal of

strengthening consumer

rights and creating a

secure and fair shopping

environment for all.”

H.E. Abdullah bin Touq Al Marri, UAE

Minister of Economy and Tourism

digital engagement, which may better

convert seasonal demand into sales.

E-commerce Platforms

Digital platforms are increasingly

central to Ramadan shopping, particularly

among younger consumers.

E-commerce companies with promotions,

fast delivery, and integrated

payment solutions can gain market

share. Investors may find value in

platforms with efficient logistics, diversified

product categories, and scalable

technology infrastructure.

Financial Services and Payments

Ramadan spending also influences

financial services, particularly in payments,

consumer credit, and Islamic

finance products.

Digital Payments

Cashless transactions tend to rise as

consumers pay for online orders, dine-in

services, and travel bookings. Digital

wallets and payment processors with

user-friendly interfaces and merchant

networks can benefit. Investors might

evaluate payment platforms that show

strong adoption rates, transaction

growth, and strategic partnerships.

Islamic Finance

Ramadan is a period when many individuals

consider charitable giving and

financial planning. Islamic banking

products, such as savings accounts,

investment accounts structured to

comply with Shariah principles, and

zakat facilitation services, may see

increased interest. Investors focusing

on financial institutions with strong

Islamic finance offerings could benefit

from this seasonal uptick.

While Ramadan fuels short-term demand

spikes, investors must consider

the macroeconomic context. Inflation

trends, interest rates, and global economic

growth influence consumer

confidence and corporate profitability

beyond seasonal effects. A diversified

approach, balancing cyclical retail

and services plays with longer-term

growth sectors like technology and

digital finance, can help manage risk.

Ramadan presents distinctive patterns

in consumer behaviour, creating opportunities

across retail, hospitality,

digital platforms, financial services, and

technology. Investors who understand

seasonal dynamics and integrate them

with broader market and economic

trends can identify sectors and companies

poised for gains with structural

shifts, such as digital adoption will

be critical for sustainable investment

success this season.


Funding & Investment News

Moody’s Upgrades

UAE Banking Outlook

to Positive on Strong

Support and Liquidity

Moody’s has revised its outlook

for the United Arab Emirates’

banking sector from stable to

positive, reflecting confidence in the

sector’s resilience and growth prospects.

The ratings agency highlighted

that ample liquidity held by banks,

coupled with strong government support

and economic diversification,

positions lenders to benefit from

robust credit demand and expanding

market opportunities. Despite ongoing

challenges such as low profitability

in parts of the sector and external

economic headwinds, improved deposit

inflows and solid capital buffers

have underpinned the more optimistic

assessment. The positive outlook

suggests that banks in the UAE are

better equipped to navigate cyclical

pressures, maintain asset quality and

support economic activity. This shift

also signals to international investors

that the broader financial system remains

stable.

Non-oil Growth and Rising Investment Confidence

Propel UAE Property Market

The UAE property market closed

2025 on a strong note, supported

by robust non-oil sector expansion

and growing investor confidence.

Continued economic diversification,

particularly in trade, tourism, finance

and construction, has translated into

sustained demand across commercial,

residential and industrial real

estate segments. Reports show rising

transaction volumes and higher occupancy

rates in major centres such

as Dubai and Abu Dhabi, with office

rents climbing and residential prices

appreciating as both domestic and

international investors seek exposure

to the market. Limited immediate

supply in key asset classes has also

helped underpin valuation momentum,

particularly in prime locations where

demand outpaces availability. This

dynamic reflects broader shifts in the

UAE economy, where non-oil activities

now form the backbone of growth.

UAE–Kuwait Economic Ties Target USD 35BN Mutual

Investments

The UAE and Kuwait continue to

deepen economic ties built on

decades of cooperation, with

bilateral investment and trade expanding

steadily across multiple sectors.

Mutual investments between the two

countries reached about USD 10 billion

by the end of 2024, with more than 60%

flowing from the UAE into Kuwait.

Moreover, the financial sector has

led these flows, while around 1,800

Kuwaiti companies operate in the

UAE outside free zones. As a result

of aligned economic strategies and

diversification efforts, total mutual

investments are expected to rise to

between USD 25 billion and USD 35

billion by 2030. Non-oil trade climbed

to roughly USD 14.8 billion in 2025,

marking annual growth of 9.1%. Additionally,

stronger consumer demand

and customs facilitation are likely to

lift growth to 10–15% in 2026. However,

investment opportunities remain diverse,

spanning finance, fintech, real

estate, renewable energy, logistics, and

digital transformation.

FAB Highlights UAE’s 5.6% Regional Growth Lead as 2026 Emerges as Pivotal

for Investment

First Abu Dhabi Bank has published

its Global Investment

Outlook 2026, identifying the

coming year as a decisive phase for

global capital allocation amid uneven

economic growth and ongoing shifts in

monetary policy. The report projects

global economic growth of around

3.1% in 2026, marking a slight slowdown

compared to the 3.2% forecast

for 2025. Growth in advanced economies

is expected to remain modest at


roughly 1.5%, while emerging markets,

particularly GCC countries and Egypt,

are forecast to outperform, recording

growth above 4%. The UAE is set to

lead the region, with real GDP growth

projected at approximately 5.6% in

2026, according to the report.

EmCoin Introduces UAE’s First Regulated Multi-Asset Investment Platform

EmCoin has formally entered the

market as the UAE’s first onshore,

Capital Market Authority (CMA)-

regulated multi-asset investment platform,

bringing together crypto assets, foreign

exchange, equities, exchange-traded

funds (ETFs) and commodities within a

single, fully regulated digital environment.

Operating under a CMA licence, EmCoin

is designed to tackle key investor pain

points, including fragmented market

access, opaque pricing and the operational

burden of managing multiple investment

platforms. The platform delivers a

simplified and transparent investment

experience through one regulated account

and interface, offering complete visibility

into pricing, fees and trade execution

across asset classes. Investors can

construct diversified portfolios without

the need to manage multiple applications,

logins or funding routes.

Trump Family Gained USD

187M from UAE Crypto

Stake

The USD 500 million UAE investment

in World Liberty Financial has

triggered rare bipartisan criticism,

even as regulatory progress in the

digital asset sector continues. Although

investigations involving former President

Donald Trump often divide along

party lines, the transaction has drawn

scrutiny from conservative media and

lawmakers across the aisle. As a result,

the controversy now threatens the passage

of key legislation on digital asset market

structure that the crypto industry views

as critical for regulatory clarity.

World Liberty Financial sold a 49%

stake to UAE government official Sheikh

Tahnoon bin Zayed Al Nahyan for USD

500 million, days before Trump’s January

2026 inauguration. According to the Wall

Street Journal, USD 187 million of the

initial USD 250 million payment flowed

to Trump-controlled entities. Moreover,

the timing coincided with discussions

on potentially easing U.S. microchip

export restrictions to the UAE, which

had been imposed over concerns about

semiconductor diversion to China.

G42 and Vietnamese Partners Commit USD 1B to

AI and Cloud Infrastructure Build-Out

Abu Dhabi-based technology

group G42 has entered into a

framework cooperation agreement

with a consortium of Vietnamese

companies to advance the development

of sovereign artificial intelligence

and cloud computing infrastructure

across Vietnam.

Under the agreement, G42, alongside

FPT Corporation and the Viet

Thai Group, will commit up to USD

1bn towards expanding AI and cloud

capacity across several data centre

sites. The investment is intended to

strengthen computing capabilities

for both government entities and private

enterprises, according to a joint

statement. The collaboration will see

the construction and operation of

large-scale data centres engineered

PureHealth, the Middle East’s

largest healthcare platform,

has announced plans to issue a

dividend following double-digit growth

in net profit, supported by increased

capacity, diversified services, and a

growing patient base. The company

has recommended a dividend payout

of AED 600 million (USD 163 million)

for 2025, representing 30 per cent of

net profit, to be distributed in two

equal semi-annual instalments. Net

profit climbed 18 per cent to AED 2

billion last year, despite the tax rate

rising to 15 per cent from 9 per cent

in 2024, according to a statement

submitted to the Abu Dhabi Securities

Exchange (ADX).

Annual revenue increased by 6

to deliver high-performance AI and

cloud solutions. The initiative supports

Vietnam’s ambition to position itself as

a leading technology hub in Southeast

Asia, while reinforcing national data

sovereignty and digital resilience.

PureHealth Recommends USD 163M Dividend

amid Rising Profit and Revenue

per cent to AED 27.3 billion, buoyed

by strong performance across Pure-

Health’s two main segments: cover

and care.


Enhanced Mobility

L’Imad Holding: Abu Dhabi’s

$300B+ Sovereign

Powerhouse

ADQ consolidates its strategic assets under a single sovereign investment vehicle,

strengthening Abu Dhabi’s global financial influence.

In January 2026, Abu Dhabi’s Supreme Council for Financial and Economic Affairs

approved the integration of ADQ’s portfolio into L’Imad Holding, creating one of the UAE’s

most powerful sovereign investment platforms. The move streamlines governance,

enhances operational efficiency, and positions Abu Dhabi as a global investment leader.

PORTFOLIO COMPOSITION & KEY STATS:

SECTORS COVERED:

Energy & Utilities:

TAQA and major power holdings

Industrial & Manufacturing:

Strategic industrial assets

Transport & Infrastructure:

Etihad Airways, Etihad Rail,

Abu Dhabi Ports

Technology & Innovation:

Advanced tech investments

Healthcare & Life Sciences:

PureHealth and subsidiaries

Finance & Real Estate:

Diversified portfolio supporting

economic growth


KEY FIGURES:

Industrial &

Manufacturing:

USD 251 billion

(Dec 2024)

Contribution to Abu Dhabi

non-hydrocarbon GDP:

22%

Companies under

L’Imad:

25+

investment companies

and platforms

Subsidiaries

under L’Imad:

250+

Estimated combined assets

under management:

$300billion

Employees across the

ADQ portfolio:

86,000+

STRATEGIC INSIGHTS:

Consolidation

optimises operational

efficiency

and strengthens

oversight.

Enhances Abu

Dhabi’s global

investment

positioning.

Streamlines

decision-making

across key

sectors.

Promotes portfolio

diversification

and long-term

economic stability.

Aligns with Abu

Dhabi’s vision of

economic

diversification

beyond hydrocarbons.


M&A News

MENA M&A Deals Hit

USD 106.1B

Mergers and acquisitions activity

across the MENA region recorded

strong growth in 2025,

with a total of 884 transactions valued

at USD 106.1bn, reflecting resilient

investor confidence despite global

economic uncertainty. The increase in

deal volume and value was driven by

robust activity in key sectors including

energy, financial services, technology

and industrials, as governments

continued to advance diversification

agendas and private capital sought

strategic opportunities. Cross-border

transactions remained a notable feature,

highlighting the region’s growing

appeal to international investors and

sovereign-backed entities. The UAE

and Saudi Arabia led regional activity,

supported by regulatory reforms,

privatisation initiatives and sustained

liquidity in capital markets. Overall,

the surge in M&A underlines MENA’s

strengthening position as a dynamic

investment hub, with corporate

consolidation.

Mubadala Capital to Acquire Clear Channel Outdoor

in USD 6.2B Deal

Mubadala Capital, alongside investment

partner TWG Global,

has agreed to acquire Clear

Channel Outdoor Holdings in an allcash

transaction valued at approximately

USD 6.2B, marking one of the

largest recent private equity deals in

the global out-of-home advertising

sector. The offer values the company

at USD 2.43 per share, representing a

significant premium to its prior trading

levels, and will result in Clear Channel

being taken private upon completion.

The transaction is supported by substantial

equity commitments from the

investor group, alongside additional

financing arrangements. Once finalised,

the deal is expected to strengthen

Clear Channel’s balance sheet and

provide greater strategic flexibility

to invest in digital transformation

and expand its advertising footprint.

This also reflects continued focus on

scaling international platforms.

ADNOC’s XRG Strengthens Caspian Presence With

Azerbaijan Gas Stake Deal

ADNOC’s international energy

investment arm, XRG, has

agreed to acquire a stake in

the Southern Gas Corridor, a key

Azerbaijani energy holding company

that manages gas assets and export

infrastructure from the Caspian region,

in a move that expands its footprint

in international gas markets. The

transaction, concluded with the government

of Azerbaijan and pending

regulatory clearances, follows earlier

agreements between the two nations

and builds on existing cooperation

with Azerbaijan’s State Oil Company

(SOCAR). By joining the Southern

Gas Corridor, XRG gains exposure to

a strategic integrated upstream-midstream

system that delivers Caspian

gas to Turkey and European markets,

aligning with its long-term diversification

and global energy strategy. The

investment also underlines stronger

UAE–Azerbaijan ties in energy and

economic collaboration.

Mubadala in Discussions to Join $10B Singapore Data Centre Acquisition

Mubadala Investment Company

is reportedly in talks to join a

consortium pursuing the acquisition

of Singapore-based ST Telemedia

Global Data Centres in a transaction

that could value the business at

around USD 10B, including debt. The

investor group is said to be working

alongside major global private equity

and institutional partners as they seek

full control of the rapidly expanding

digital infrastructure platform. The

potential deal highlights strong investor

appetite for data centre assets,

driven by accelerating demand for

cloud computing, artificial intelligence

workloads and enterprise connectivity

across Asia. For Mubadala, participation

would further strengthen its

global technology and infrastructure

portfolio while deepening exposure to

high-growth digital assets. Discussions

are ongoing and remain subject to final

agreements and regulatory approvals.


Emirates NBD Secures Licence to Operate in India’s IPO and Capital Markets

Emirates NBD’s investment banking

arm, Emirates NBD Capital, has

become the first Middle Eastern

bank to secure a Category I Merchant

Banking licence from India’s securities

regulator, enabling it to participate directly

in the country’s booming equity capital

markets. This regulatory approval allows

the firm to act as a merchant banker and

bookrunner on initial public offerings,

follow-on offerings and other equity and

debt placements on Indian exchanges.

The licence also paves the way for the

bank to expand its footprint in one of the

world’s fastest-growing financial markets

and support cross-border capital flows

between the Middle East and India. The

move aligns with strong activity in India’s

IPO segment, where deal volumes and

fundraising have remained elevated, and

underscores its lcommitment to deepening

its presence in Asia’s capital markets.

NTT DATA Acquires Zero

and One to Boost Cloud

Growth in the Middle East

NTT DATA has completed the

acquisition of Zero and One, a

technology services provider, in

a move designed to accelerate its cloud

services expansion across the Middle

East. The deal will strengthen NTT DATA’s

regional capabilities by integrating Zero

and One’s specialist expertise in cloud

transformation, application modernisation

and managed services into its broader

service portfolio. This acquisition is

aligned with the rising demand among

enterprises in the Middle East for digital

and cloud solutions that drive agility and

operational efficiency. By combining

resources and talent, NTT DATA aims to

support a wider set of customers with

end-to-end cloud offerings and deliver

enhanced digital experiences. The

transaction also reinforces the company’s

commitment to strategic growth in

high-potential markets, positioning it

to capitalise on the region’s accelerating

digital transformation agenda.

Mubadala Capital and TWG Global to Acquire Clear

Channel for USD 6.2B

Mubadala Capital, in partnership

with TWG Global, has entered

into a definitive agreement

to acquire Clear Channel Outdoor

Holdings in an all-cash transaction

valued at approximately USD 6.2B.

Under the terms of the deal, shareholders

will receive USD 2.43 per share,

representing a substantial premium

to the company’s previous trading

price, and the advertising group will

UAE-based Albatha Healthcare

Group has completed the acquisition

of a controlling interest

in Insights Psychology, expanding

its presence in the country’s mental

health and behavioural services sector.

Insights Psychology operates a

network of specialist clinics offering

neurodevelopmental assessments,

psychotherapy, speech and language

therapy and other multidisciplinary

care for individuals across age groups.

The deal, which brings the clinical

team and existing operational centres

under Albatha’s broader healthcare

platform, underscores a strategic push

into psychological support services as

demand for mental health care rises

across the region. Financial terms of

be taken private upon completion. The

transaction is supported by significant

equity commitments from the investor

consortium alongside additional debt

and preferred equity financing. Once

finalised, the acquisition is expected to

provide Clear Channel with greater financial

flexibility to accelerate digital

transformation across its out-of-home

advertising network and streamline

operations.

UAE’s Albatha Acquires Majority Stake in Clinic

Operator Insights

the transaction were not disclosed.

The acquisition aligns with broader efforts

to integrate comprehensive care

and strengthen support for patients,

families and communities. As part of

Albatha’s diversified health portfolio.


Global


Global leaders and policymakers convene in Dubai to discuss future governance priorities and international cooperation.

The World Governments

Summit 2026: Dubai

at the Center of Global

Policy

Global Leaders Gather in Dubai to Shape Future-

Ready Governance through Collaboration,

Innovation and Policy-Driven Solutions.

The World Governments Summit 2026

convened global leaders in Dubai at a

critical moment for public policy and

governance. As governments navigate

economic uncertainty, rapid technological

advancement and evolving societal

expectations, the summit offered a timely

platform for dialogue and collaboration.

Bringing together policymakers, institutions

and industry leaders, the event

highlighted the growing importance of

adaptive governance models that balance

innovation with accountability. Positioned

at the crossroads of global decision-making,

Dubai once again demonstrated its

ability to facilitate meaningful policy

exchange, setting the tone for discussions

that extend far beyond national

boundaries.


The World Governments Summit

2026 reaffirmed Dubai’s role as

a central convening ground for

global policymaking at a time when governments

are under increasing pressure

to respond to complex, interconnected

challenges. As geopolitical shifts, rapid

technological change and economic

uncertainty reshape governance models

worldwide, the summit provided a

platform for leaders to move beyond

discussion and towards coordinated

action. Dubai’s ability to host such

a wide-ranging and influential forum

reflects not only its logistical capability

but also its growing influence in shaping

global policy narratives.

One of the defining characteristics

of the 2026 edition was its scale and

diversity. Government leaders, policymakers,

global institutions, business

executives and academic experts gathered

to exchange perspectives on the

future of governance. The breadth of

participation underscored the summit’s

evolution from a regional dialogue into

a truly global policy forum. By bringing

together voices from developed

and emerging economies, the summit

facilitated conversations that acknowledged

differing national realities while

identifying shared priorities.

The summit’s agenda focused on

how governments can remain effective

in an era of disruption. Discussions

repeatedly returned to the need for

adaptive governance frameworks that

balance innovation with accountability.

Policymakers examined how traditional

institutions must evolve to remain relevant,

particularly as digital technologies

accelerate decision-making cycles

and public expectations continue to

rise. The emphasis was not simply on

adopting new tools, but on reshaping

institutional mindsets to enable longterm

resilience.

Economic resilience featured prominently

throughout the programme,

reflecting ongoing concerns about

global growth, inflationary pressures

and shifting trade dynamics. Leaders

explored how governments can attract

investment while safeguarding fiscal

stability and social cohesion. Dubai’s

positioning as a neutral global hub

allowed for open dialogue on economic

cooperation, cross-border investment

and the role of public-private partnerships

in supporting sustainable development.

These discussions reinforced

the idea that economic policy can no

longer operate in isolation from social

and technological considerations.

Technology governance emerged

as one of the most influential themes

of the summit. Artificial intelligence,

digital infrastructure and data-driven

policymaking were examined not as

future possibilities, but as present-day

realities already reshaping public

administration. Governments shared

approaches to regulating emerging technologies

while encouraging innovation,

with particular attention paid to ethical

frameworks and transparency. The

conversations highlighted a growing

consensus that effective technology

governance requires international

coordination, rather than fragmented

national approaches.

Urban development and demographic

change were also central to the dialogue,

particularly as cities continue

to absorb population growth and economic

activity. Policymakers discussed

how urban planning, mobility systems

and housing strategies must adapt to

changing demographic patterns and

sustainability targets. Dubai’s own

experience as a rapidly growing global

city provided a practical reference point

for discussions on smart infrastructure,

digital public services and long-term

urban resilience.

Social well-being and human capital

development featured as critical pillars

of future governance. The summit

placed strong emphasis on education,

skills development and healthcare

systems that are capable of supporting

inclusive growth. Leaders acknowledged

that technological advancement

alone cannot deliver progress without

parallel investment in people. Initiatives

announced during the summit

reflected a growing recognition that

governments must actively prepare

future generations for an increasingly

digital and automated economy.

A key strength of the World Governments

Summit lies in its ability to

bridge policy and practice. High-level

discussions were complemented by the

release of strategic reports and surveys

that provided data-driven insights into

government priorities worldwide. These

outputs reinforced the summit’s role

as a knowledge platform, offering actionable

guidance rather than abstract

theory. For policymakers and business

leaders alike, these insights provided

International cooperation

and innovative

governance are essential

to building resilient

societies and sustainable

economies for future

generations.”

H.E. Mohammad Abdullah Al Gergawi,

Minister of Cabinet Affairs, UAE

valuable reference points for navigating

complex policy environments.

Dubai’s role as host extended beyond

providing a venue for dialogue. The

city’s positioning as a global connector

between East and West enabled

balanced discussions on international

cooperation at a time when multilateralism

faces significant strain. The

summit demonstrated how neutral

platforms can facilitate trust-based

engagement, allowing governments

to explore collaboration even amid

geopolitical tensions.

As the summit concluded, the underlying

message was clear: the challenges

facing governments today demand coordinated,

forward-looking responses

that transcend borders and sectors. The

World Governments Summit 2026 reinforced

the idea that governance must

be dynamic, inclusive and informed by

both innovation and human-centred

values. Dubai’s ability to convene such

a comprehensive dialogue further cemented

its status as a global hub for

policy exchange.


Global News

UAE and Russian

Presidents Discuss

Ties and Regional

Developments

UAE President His Highness

Sheikh Mohamed bin Zayed

Al Nahyan held a phone call

with Russian President Vladimir Putin

to discuss strengthening bilateral

cooperation within the framework of

the strategic partnership between the

two countries. During the call, the two

leaders reviewed avenues to deepen

cooperation across areas of mutual

interest. Moreover, they exchanged

views on regional and international

developments, reflecting continued

engagement at the highest level. They

also discussed efforts to support security

and stability through dialogue

and peaceful solutions. Therefore,

the exchange underscored a shared

commitment to constructive diplomacy

amid evolving regional dynamics.

UAE Holds First Strategic Financial Dialogue with

Bahrain

The UAE has hosted its first

Strategic Financial Dialogue

with Bahrain, marking the operational

launch of the memorandum

of understanding signed between the

two countries. Organised by the Ministry

of Finance, the dialogue brought

together senior officials from both

sides to advance cooperation across

four pillars. Moreover, the framework

focuses on structured policy dialogue,

technical cooperation, joint initiatives,

and continuous implementation and

review. The sessions aim to align fiscal

and financial perspectives and address

shared challenges across taxation,

customs, investment, and financial

technology. Officials emphasised

that the dialogue will support closer

financial integration through regular

engagements, knowledge exchange,

and joint research.

Alphabet Profits Rise 30% as Gemini Tops 750

Million Users

Alphabet Inc., the parent company

of Google, has announced

plans to significantly scale up

its technology investments, targeting

USD 175 billion to USD 185 billion by

2026, following strong financial results

in the final quarter of 2025. Net income

rose 30 per cent year-on-year to USD

34.5 billion, while revenues reached a

record USD 113.8 billion, underscoring

sustained momentum across the

group’s core businesses. The performance

was largely driven by continued

strength in cloud computing, where

revenues grew by 48 per cent, reflecting

accelerating demand for artificial

intelligence-driven solutions. Chief

Executive Officer Sundar Pichai said

the company’s expanding investment

in AI infrastructure is now a central

pillar of Alphabet’s growth strategy.

Federal Reserve Holds Interest Rates Unchanged in Latest Decision

The Federal Reserve kept interest

rates unchanged between 3.5%

and 3.75%, ending a series of

three consecutive quarter-point cuts.

The move reflects a cautious approach

to balancing elevated inflation with

sluggish hiring, consistent with guidance

from Chair Jerome Powell prior

to recent reports of a federal investigation

into his conduct. Powell described

the economy as expanding at a “solid

pace,” noting that while job gains

remain subdued, the unemployment

rate fell to 4.4% in December from

4.6% in November. He said the current

monetary stance remains appropriate

for advancing both maximum employment

and the Fed’s 2% inflation target.

Futures markets, however, price in

two potential rate cuts this year,

likely in June and the fall. Earlier this

month, news emerged of a criminal

investigation into Powell concerning

his congressional testimony on cost

overruns from a multi-billion-dollar

office renovation project.


UAE Solidifies Global Finance Standing as FDI Climbs to USD 40B

The United Arab Emirates is

strengthening its reputation as a

resilient and trusted global financial

gateway at a time when geopolitical

tensions, de-globalisation and economic

volatility are reshaping international

capital flows. Foreign direct investment

into the UAE doubled between 2019 and

2024, reaching approximately USD40bn,

signalling sustained global investor

confidence and the country’s growing

appeal as a stable capital destination.

In 2024, FDI represented around 40 per

cent of the UAE’s gross capital formation,

a proportion that exceeds many advanced

economies and highlights the country’s

strong reliance on international capital to

drive expansion. Investment momentum

has accelerated significantly. The UAE

recorded 1,362 FDI projects in 2024,

reflecting sharp growth compared to 2020.

Dubai Launches Gold

District to Strengthen

Global Trade Role

Dubai has launched the Dubai

Gold District, a purpose-built

destination designed to strengthen

the emirate’s position as one of the world’s

most trusted centres for gold and jewellery

trade. Moreover, the development brings

together the full gold and jewellery value

chain in a single location, spanning retail,

bullion, wholesale trade, and investment.

As a result, the initiative marks a new

phase in Dubai’s evolution as a global

hub for commerce and trade. Developed

by Ithra Dubai, the District consolidates

the entire gold and jewellery ecosystem

under one destination. Consequently, it

reinforces Dubai’s standing as a leading

global centre for gold trading. The launch

represents a landmark moment for the

regional industry and positions the emirate

at the forefront of the international gold

market.

DXC Announces Strategic Partnership with Euronet

to Expand Globally

DXC Technology (NYSE: DXC),

a global enterprise technology

and innovation partner, has

announced a strategic partnership with

Euronet Worldwide, Inc. (NASDAQ:

EEFT), a leading global payments

technology company, to expand issuing,

revolving credit and payments

capabilities for financial institutions

worldwide. Through this collaboration,

DXC will integrate Hogan, its core

banking platform, which powers more

than 300 million deposit accounts and

over $5 trillion in deposits globally,

with Euronet’s Ren platform, a modern

issuing, processing and payments

solution. The combined capabilities

will help banks, fintechs and other

financial services organisations of all

sizes accelerate the launch of card

issuing, credit and payment programs

while simplifying operations such as

reconciliation and settlement, and

reducing time to market for new products

and customer onboarding.

UAE Partners With Starlink To Expand

Education In Remote Communities

The UAE has announced a strategic

partnership with Starlink

to extend digital education to

remote and underserved communities

worldwide. The initiative brings

together The Digital School, operating

under Mohammed bin Rashid

Al Maktoum Global Initiatives, and

Starlink’s satellite internet technology

to deliver reliable high-speed

connectivity in areas where conventional

infrastructure is limited or

unavailable. In its initial phase, the

programme will connect 100 remote

locations, enabling students to access

structured online curricula, interactive

learning platforms and teacher-led

virtual classrooms. The collaboration

also includes educator training and

ongoing technical support to ensure

sustainable impact. Officials said the

move reflects the UAE’s commitment

to narrowing the global education gap

and leveraging advanced technology to

create inclusive, future-ready learning

environments for students who would

otherwise face significant barriers to

quality education.


Redefined Mobility

What Is the Dubai Loop?

The Dubai Loop is a next-generation underground

transport system designed to move large volumes of

passengers rapidly across the city using electric,

autonomous vehicles. Built beneath key urban

corridors, the system aims to reduce congestion while

delivering faster, cleaner mobility.

PHASE ONE: FINANCIAL DISTRICT FOCUS

Length:

6 km

Cost:

AED 600M

(USD 163 million)

Location:

Dubai’s financial

district, described

as the city’s “key

commercial area”

Construction Start:

Announced at

the World

Government

Summit 2026

“

The project will add much to the infrastructure of Dubai.”

PROJECT SCALE & ECONOMICS

— Mattar Al Tayer, RTA Director General

Metric

Total Length

Total Cost

Daily Capacity

Tunnel Cost per km

Metro Tunnel Cost per km

Dubai Loop

24 km

AED 2.5B

13,000 passengers

AED 70M

AED 125 million

KEY INSIGHT

Dubai Loop tunnels cost 44% less per kilometre than traditional metro

tunnels, highlighting strong capital efficiency.


Technology Partner:

Elon Musk’s

The Boring Company

STRATEGIC PARTNERSHIP

Construction Method:

High-speed,

low-cost tunnel

boring machines

Vehicles:

Autonomous electric

cars (primarily

Tesla-based)

GLOBAL BENCHMARK

The only operational Loop system today is in Las Vegas, transporting

passengers via Tesla vehicles between stations.

Why it Matters:

THE CONGESTION CHALLENGE

Average

time lost in

traffic

(Dubai): 35

hours per

resident

annually

Global

congestion

cost: Over

USD 500

billion per

year

Data

Source:

INRIX &

TomTom

(2024)


Real Estate News

Al Reem Island Property Sales more than Triple in 2025; Rising 45%

Property transactions on Abu

Dhabi’s Al Reem Island more

than tripled in 2025, underlining

a significant resurgence in residential

market activity, according to a recent

Mered report. The analysis shows that

total sales volume jumped sharply compared

with the previous year, supported

by robust demand across both off-plan

and completed developments. Average

prices climbed by about 45 per cent,

reflecting heightened buyer interest

and limited supply in key segments.

Developers and investors have been

particularly active, driven by favourable

financing conditions and sustained

confidence in the emirate’s long-term

growth prospects. The surge in sales

also points to stronger domestic and

international interest in Abu Dhabi’s

real estate as the broader UAE property

market continues its recovery.

Analysts say this momentum could

signal a more balanced and sustained

expansion in 2026.

DAMAC Group Partners with Cognizant on threeyear

IT Transformation

Dubai-based DAMAC Group has

entered a three-year strategic

partnership with global technology

services firm Cognizant to

overhaul its IT operations and elevate

digital experiences for customers and

employees alike. Under the agreement,

Cognizant will take charge of

managing and enhancing DAMAC’s IT

infrastructure and application services,

spanning digital and e-commerce platforms,

core enterprise systems, CRM,

data platforms and AI-led initiatives.

The collaboration aims to streamline

operations, accelerate the company’s

digital maturity and drive measurable

business impact by embedding automation,

operational excellence and

continuous improvement across its

diverse businesses. DAMAC said the

move aligns with its long-term vision

of delivering seamless, future-ready

services and strengthening its competitiveness

in a rapidly evolving digital

landscape, while Cognizant will support

transformation goals.

ENEC Partners with Two Canadian Institutions on

Nuclear Research

ATARA launches GCC’s

First Sheraton-branded

Residences

ATARA Development has officially

launched The Residences at

Sheraton Al Marjan Island Resort,

marking the Gulf Cooperation Council’s

first Sheraton-branded residential project

in Ras Al Khaimah. Located on Al Marjan

Island, the waterfront community introduces

an elevated lifestyle that blends

resort-style living with exclusive hotel-level

privileges and direct access to pristine

beaches, pools and wellness facilities.

The development, set for completion in

2028, comprises a collection of branded

residences designed to combine refined

living with Sheraton’s global hospitality

expertise, appealing to discerning buyers

seeking both comfort and lifestyle

amenities. The project enhances Ras Al

Khaimah’s appeal as a premium coastal

destination for residents and investors.

The Emirates Nuclear Energy Company

has signed a Memorandum of

Understanding with the Saskatchewan

Research Council and the Global

Institute for Energy, Minerals, and Society

of Canada to advance cooperation

across nuclear research, development,

and capacity building. Moreover, the

agreement reflects growing international

collaboration aimed at strengthening civil

nuclear capabilities. The MoU was signed

on the margins of the World Future Energy

Summit in Abu Dhabi. Additionally,

it establishes a structured framework to

support joint initiatives across priority

areas of the nuclear energy value chain.

Under the agreement, the partners will

collaborate on Small Modular Reactors

and advanced reactor systems. Furthermore,

the cooperation will focus on enhancing

operational performance while

improving plant efficiency and long-term

reliability. The partnership will advance

nuclear safety and compliance while accelerating

global deployment of clean,

reliable nuclear energy.


Dubai Achieves Record-

Breaking Real Estate

Deal Value in a Single

Day

Dubai’s property market reached

a historic milestone with the

highest single-day real estate

transaction value on record, as data

from the Dubai Land Department

showed transactions on January 26

totalled AED 15.6 billion (about USD

4.25 billion), spread across 1,501 deals.

The surge was driven by broad activity

across multiple segments, with sales

of land, residential units and buildings

contributing significantly, alongside

mortgages and gift transactions. Market

observers say the unprecedented

performance reflects deep liquidity,

strong investor confidence and the

emirate’s ability to attract both local

and international capital into its real

estate ecosystem. Industry leaders noted

that this peak in daily transaction value

underscores Dubai’s growing maturity

as a global property hub.

UAE Property Market Sees Fresh Luxury Launches

And Investment Shift

The UAE’s real estate sector continues

to evolve as developers

unveil new luxury and mixed-use

projects while regional investment flows

recalibrate. Fakhruddin Properties

has launched Treppan Living Privé,

a limited collection of branded residences

on the Dubai Islands, targeting

demand for wellness-focused, high-end

waterfront living. In Ras Al Khaimah,

RAK Properties introduced The Strand

on Marjan Beach, a large mixed-use

development combining residential,

retail and lifestyle districts, reinforcing

the emirate’s tourism and investment

ambitions. Meanwhile, UAE investments

into Egypt have moderated following

last year’s record inflows linked to

the Ras Al Hekma deal, signalling a

normalisation of cross-border capital

deployment, this highlights sustained

domestic property momentum.

UAE Investments In Egypt Ease After Peak Ras

Al-Hekma Flows

UAE capital flows into Egypt

have significantly slowed in the

2024-25 period after an exceptional

surge the previous year linked

to the Ras Al-Hekma development.

Following a record flow of investment

tied to the multi-billion-dollar

Ras Al-Hekma project, a large-scale

coastal urban and tourism initiative

backed by UAE investors, the pace of

UAE outbound investment into Egypt

eased, reflecting a normalisation after

the peak deployment of capital. Experts

suggest this dip does not indicate

weakening bilateral economic ties but

rather the culmination of large upfront

commitments under the Ras Al-Hekma

deal that drove historic foreign

direct investment levels into Egypt’s

economy. The trend underscores how

landmark deals can distort annual

investment figures before stabilising.

Fakhruddin Launches Exclusive

Branded Residences On

Dubai Islands

Fakhruddin Properties has unveiled

Treppan Living Privé, a

limited collection of 65 luxury

branded residences on the Dubai

Islands, designed to blend privacy,

tranquillity and high-end lifestyle

amenities. The residences feature fully

furnished, low-density layouts focused

on wellbeing and calm living, reinforcing

the premium market segment on

the island masterplan. Treppan Living

Privé joins the developer’s earlier

residential launches and aims to set a

benchmark for exclusive coastal living

with intelligent design and beachfront

proximity. Positioned within one of

Dubai’s fastest-growing residential

destinations, the launch reflects a

sustained appetite for branded and

experience-led real estate offerings.

Dubai Islands continues to attract

luxury developers seeking to capitalise

on demand for lifestyle-centric homes

near waterfront amenities and leisure

infrastructure.


Real Estate


Dubai reflects strong real estate activity as residential, commercial and luxury transactions surge in January 2026.

Dubai Real Estate

Breaks Records:

January Sees Historic

Transaction Volumes

Dubai’s Property Market Opens 2026 with

Record Transactions and Long-Term Growth

Momentum.

Dubai’s record-breaking real estate performance

in January 2026 reinforces the

market’s maturity, resilience and global

investment appeal. Strong transaction

volumes across residential, commercial

and luxury segments reflect sustained

confidence from end users, investors

and institutions alike. Balanced price

growth, diversified demand and steady

supply absorption point to disciplined

market expansion rather than speculative

excess. Regulatory clarity, and supportive

financing conditions continue to underpin

liquidity. As population growth, business

activity and infrastructure development

advance through the year, Dubai’s property

sector appears well-positioned to sustain

momentum, and strengthen its role as a

real estate destination.


Dubai’s real estate market opened

2026 with an exceptional performance,

recording its strongest

January on record in terms of both

transaction volumes and total value. Traditionally

considered a measured start

to the year, January instead delivered

unprecedented momentum, reinforcing

Dubai’s position as one of the world’s

most dynamic property markets. The

scale and breadth of activity point to

sustained investor confidence rather

than a short-term spike, setting a robust

tone for the months ahead.

Total real estate transactions surged

sharply during the month, driven by

strong activity across residential,

commercial and mixed-use segments.

Sales formed the backbone of market

performance, accounting for the majority

of transaction value. Mortgage

registrations also remained elevated,

reflecting continued confidence among

both end users and long-term investors.

Gift transactions added further

depth, highlighting ongoing portfolio

restructuring and intergenerational

asset planning within the market.

Residential real estate continued

to dominate activity, with apartments

accounting for the largest share of transactions

by volume. Demand remained

particularly strong in established communities

offering lifestyle amenities,

transport connectivity and proximity

to employment hubs. Villas and townhouses

also recorded notable growth,

reflecting sustained interest in larger

living formats as population growth

and household formation continue to

reshape housing preferences.

Luxury and ultra-luxury properties

played a decisive role in pushing

transaction values to record levels.

High-ticket sales across prime waterfront

developments, branded residences

and master-planned communities

underscored Dubai’s appeal to global

high-net-worth individuals. These

transactions were not isolated events

but part of a broader pattern of capital

inflows seeking stable, long-term exposure

to premium real estate assets.

Off-plan sales remained a key growth

driver, supported by developer confidence

and strong buyer appetite. Flexible

payment plans, phased construction

timelines and competitive entry prices

continued to attract investors looking

to secure future value appreciation.

At the same time, ready properties

maintained steady demand, particularly

among buyers prioritising immediate

occupancy or rental income generation.

This balance between off-plan and

completed inventory contributed to

overall market stability.

Commercial real estate activity added

further resilience to January’s performance.

Offices, retail units and logistics

assets attracted renewed interest as

businesses expanded operations and

repositioned their physical footprints.

Demand for well-located, high-quality

commercial space reflected broader

economic growth and the increasing

sophistication of Dubai’s business

ecosystem. Industrial and warehousing

assets also benefited from rising trade

volumes and regional distribution

requirements.

Geographically, transaction activity

was well distributed across the emirate.

Established districts continued to

record strong turnover, while emerging

areas gained traction as infrastructure

investment and master planning

unlocked new growth corridors. This

geographic diversification highlights

the maturity of Dubai’s property market

and its ability to absorb demand across

multiple sub-markets without creating

concentrated pressure points.

Several structural factors underpin

the strong start to 2026. Population

growth remains a central driver, supported

by job creation, business formation

and long-term residency initiatives.

Investor-friendly regulations, transparent

property registration systems

and ongoing enhancements to market

governance continue to reinforce trust

and liquidity. Competitive financing

conditions and a stable macroeconomic

environment have further supported

transaction volumes.

Importantly, the rise in activity has

not been accompanied by signs of

excessive price inflation. Price growth

across most segments has remained

measured, suggesting healthy demand

absorption aligned with available supply.

This equilibrium reflects careful

market planning and disciplined project

launches, helping to preserve long-term

sustainability and investor confidence.

Buyer profiles continue to diversify.

While international investors remain

highly active, local and regional participation

has strengthened, particularly

among professionals and business owners

seeking asset security and income

stability. Institutional interest is also

becoming more visible, with larger

portfolios targeting income-generating

residential and commercial assets.

Dubai’s record-breaking real estate

performance in January 2026 confirms

the market’s depth, resilience and

global appeal. Strong transaction volumes

across residential, commercial

and luxury segments reflect sustained

investor confidence and disciplined

market growth. Balanced pricing,

diversified demand and continued

regulatory clarity position the sector

for long-term stability.

Dubai’s real estate sector

continues to grow steadily

on the back of investor

trust, balanced market

dynamics and long-term

strategic planning. Our

focus remains on building

a sustainable and globally

competitive market

that offers value for all

participants and supports

Dubai’s future economic

vision.”

H.H. Sheikh Hamdan bin Mohammed bin

Rashid Al Maktoum, Crown Prince of Dubai

and Chairman of The Executive Council of

Dubai


Corporate Results

Lulu Retail Holding

FY’25 Net Profit: USD 204.5M

Lulu Retail Holdings posted a net

profit of USD 204.5M (Dh751M) for

the financial year ended December

31, 2025, reflecting steady operational

performance despite evolving market

conditions. According to its annual

2025 results, full-year EBITDA reached

USD 782.2M (AED 2.87B), delivering

a healthy margin of 9.9%, underscoring

disciplined cost management and

operational efficiency across its retail

network. Total revenue rose 4.1% yearon-year

to USD 7.93B (AED 29B), driven

by resilient consumer demand, network

expansion, and improved in-store productivity.

The performance highlights

the group’s ability to sustain profitability

while navigating inflationary pressures

and competitive dynamics within the

regional retail landscape. Continued

focus on private label growth, and

customer experience enhancement.

ADNOC Logistics and

Services

FY’25 Net Profit: $838.6M

In 2025, ADNOC Logistics and Services

delivered a strong financial performance,

reporting an 11 per cent rise in net profit

to USD 838.6 million, driven by robust

revenue growth, operational execution

and global expansion across its core logistics

and shipping segments. Revenue

surged over 41 per cent to about US 5

billion, while EBITDA climbed 32 per cent

to USD 1.5 billion, reflecting improved

shipping performance and scale benefits

from acquisitions such as Navig8. The

company’s inclusion in the MSCI Emerging

Markets Index helped attract roughly

USD 240 million in passive inflows, enhancing

liquidity in its stock. Technological

investments, especially AI-enabled

systems that improved turnaround times

and expanded cargo capacity, also underpinned

performance.

Dubai Islamic Bank

FY’25 Net Profit: AED 9.0B

Dubai Islamic Bank reported strong

financial results for FY 2025, with

operating revenue of AED 13.3 billion

and a pre-tax profit of AED 9.0 billion,

marking a 20 % year-on-year increase

in profitability. Total assets expanded

21 % to AED 416 billion, underpinned

by robust growth in core business

lines. Net financing assets rose 23 %

to AED 262 billion, while the bank

booked AED 124 billion in gross new

financing and Sukuk investments, an

80 % rise compared with the prior

year. Customer deposits climbed 29

% to AED 320 billion, with current

and savings accounts also increasing.

Asset quality strengthened, reflected

in a declining non-performing financing

ratio and enhanced coverage. The

bank’s efficient cost management and

strong funding base supported resilient

earnings across the year.

Commercial Bank of Dubai


Commercial Bank of Dubai delivered

record financial results for the year

ended 31 December 2025, reporting

a net profit before tax of AED 3.84

billion, up about 15.6 % year-on-year.

Net profit after tax reached AED 3.5

billion, extending the bank’s run of 22

consecutive quarters of profit growth

— a standout performance in the UAE

banking sector. For the first time, net

loans surpassed AED 100 billion, underpinned

by strong lending momentum

across corporate and retail segments.

Operating income rose nearly 8 % to

AED 5.92 billion, driven by higher net

interest income and increased customer

activity, while operating expenses

grew as the bank continued investing

in digital platforms and technology.

Total assets expanded reflects broadbased

balance-sheet growth.

Emirates NBD


Emirates NBD delivered a record

financial performance, reporting a

profit before tax of AED 29.8 billion,

marking a 10 per cent year-on-year

increase supported by robust lending

momentum and strong non-funded

income streams. Total income rose 12

per cent to AED 49.3 billion, reflecting

healthy loan growth, improved

margins and sustained fee generation

across corporate, retail and treasury

operations. Net profit stood at approximately

AED 24 billion, demonstrating

resilience despite a moderating interest

rate environment globally. The bank’s

total assets crossed the AED 1 trillion

milestone for the first time, underpinned

by a 24 per cent expansion in gross

loans and an 18 per cent increase in

customer deposits, signalling balance

sheet growth and customer confidence.

Aldar


Aldar delivered a strong set of Q4 and

FY 2025 financial results, with full-year

net profit after tax rising 36 % to a record

AED 8.8 billion, supported by the

realisation of its development revenue

backlog and an expanded investment

properties portfolio. Group sales hit

a record AED 40.6 billion, up 21 %

year-on-year, while UAE sales alone

amounted to AED 35.5 billion. Quarterly

group sales of AED 12.0 billion

also marked a 25 % increase, driven by

new UAE launches and robust demand

for existing inventory. The company’s

development revenue backlog reached

an all-time high of AED 71.7 billion, underpinning

visibility on future earnings.

Aldar further strengthened its balance

sheet and strategic position through

significant landbank replenishment,

and strategic M&A activity.


Abu Dhabi Commercial

Bank (ADCB)


Abu Dhabi Commercial Bank (ADCB)

delivered a strong set of financial results

for the year ended 31 December 2025,

reporting a profit before tax of AED 12.843

billion, representing a 21 per cent yearon-year

increase and marking its 18th

consecutive quarter of growth. In the

fourth quarter alone, profit before tax

rose 30 per cent to AED 3.736 billion, highlighting

sustained earnings momentum.

Net profit after tax reached AED 11.445

billion for the full year and AED 3.342

billion in Q4. Operating income recorded

double-digit growth, supported by higher

net interest income and solid non-interest

revenue performance. Efficiency gains

were evident as the cost-to-income ratio

significantly improved to 28.2 per cent, reflecting

strong operational performance.

Dubai Electricity and Water

Authority (DEWA)


Dubai Electricity and Water Authority

(DEWA) delivered a robust financial

performance for the full year, reporting

a net profit after tax of AED 9.09 billion,

its highest to date. Consolidated

revenues reached AED 32.84 billion,

supported by sustained growth in

electricity, water and district cooling

demand across Dubai. EBITDA rose to

AED 17.37 billion, reflecting operational

efficiency and disciplined cost management.

Net profit increased by 25.66 per

cent year on year, demonstrating the

strength of DEWA’s regulated business

model and expanding clean energy

portfolio. The utility generated more

than 10 terawatt-hours of clean energy

during the year, while peak demand was

also recorded notable growth.

Al Ansari Financial Services

FY’25 Net Profit: AED 401M

In fiscal year 2025, Al Ansari Financial

Services delivered a robust performance

with net profit after tax of AED 401

million, underpinned by double-digit

growth in operating income and earnings

before interest, taxes, depreciation

and amortisation (EBITDA). Operating

income rose 12 per cent year-on-year to

AED 1.29 billion, driven by strong results

across core business lines and the consolidation

of the newly acquired BFC

Group, which broadened the Group’s

earnings base and geographic reach.

During the year, the company significantly

expanded its global footprint,

growing to 444 physical branches from

267, including substantial additions

in Bahrain, Kuwait, India, and other

strategic international markets.

Parkin


In the full-year 2025 results reported

by Parkin Company PJSC, the Dubaibased

parking operator delivered a

48 per cent year-on-year increase in

net profit, reaching AED 626 million,

driven by strong revenue growth and

operational momentum. Total revenue

jumped by roughly 43 per cent to about

AED 1.33 billion, underpinned by higher

utilisation, increased seasonal card

sales and the successful implementation

of the variable parking tariff strategy.

Earnings per share improved to AED

0.2087 from AED 0.1412, reflecting

enhanced profitability and shareholder

value. Despite a higher cost base, largely

due to increased concession fees, staff

expenses and technology investments,

the company maintained robust financial

discipline, translating top-line gains

into significant bottom-line expansion

as it expanded its parking portfolio in

Dubai’s urban mobility segment.

Dubai Aerospace Enterprise

(DAE)


Dubai Aerospace Enterprise (DAE)

delivered a strong performance in

full-year 2025, reporting a 43 per cent

increase in pre-tax profit to approximately

AED 2.80 billion, compared with

around AED 1.95 billion in 2024. Total

revenue rose 21 per cent year-on-year

to roughly AED 6.35 billion, supported

by fleet expansion and improved lease

yields. The company’s adjusted pre-tax

profit margin strengthened to 26 per

cent, while return on equity climbed

to 13.4 per cent, reflecting enhanced

operational efficiency and disciplined

capital management. During the year,

DAE acquired 280 aircraft and sold

111, taking its total owned, managed

and committed fleet to 604 aircraft

by year-end. The group also secured

nearly AED 14.32 billion in new debt

facilities.

Aramex


Aramex’s full-year 2025 financial results

revealed a sharp decline in profitability

despite modest revenue growth. The

UAE-based logistics and express delivery

firm reported group revenue of about

AED 6.36 billion in 2025, up roughly 1

per cent year-on-year, driven by gains

in domestic express, freight forwarding

and logistics segments even as international

express softened. However, net

profit plunged by around 85 per cent

compared with 2024, reflecting margin

pressure from lower-margin services,

inflationary costs and restructuring

charges tied to transformation initiatives

such as Accelerate28. Gross profit

and margins were also slightly lower,

underscoring profitability challenges.

Aramex’s management is focusing on

operational execution, cost discipline

and near-term strategy shifts as the

company positions itself for long-term

growth in 2026 and beyond.


Energy


Green bond issuances in the UAE reflect growing investor confidence in the nation’s sustainable finance ecosystem.

Investor Appetite for

UAE Green Bonds:

Insights from the Market

Rising global demand and policy clarity are

positioning UAE green bonds as a cornerstone

of sustainable capital markets.

Investor appetite for UAE green bonds

has strengthened markedly as sustainability

shifts from a policy ambition to a

capital markets priority. Backed by strong

sovereign commitments, regulatory clarity

and high-profile issuances, the UAE

has positioned itself as a regional anchor

for green and sustainability-linked debt.

Global asset managers, regional banks

and sovereign investors are increasingly

allocating capital to UAE green bonds,

attracted by credible frameworks, competitive

yields and transparent use-ofproceeds

structures. As climate finance

evolves beyond traditional models, the

market’s growing depth, innovation and

international participation highlight the

UAE’s expanding role in global sustainable

finance.


The United Arab Emirates has

rapidly solidified its position as a

leading regional hub for sustainable

finance, particularly in green and

related climate-linked bonds. Against

a backdrop of escalating climate commitments

and global investor focus on

Environmental, Social and Governance

(ESG) outcomes, investor appetite for

green, blue and sustainability-linked

instruments in the UAE has intensified,

driven by robust policy support, innovative

issuances and shifting capital

flows. This analysis explores the latest

developments shaping demand in the

UAE green bond market, evolving investor

profiles, structural advancements,

challenges and future trends.

Green Bond Growth and Market

Signals

In 2025, the broader Middle East and

North Africa (MENA) sustainable

debt market reached approximately

USD 35.1 billion in total issuance, underscoring

rapid expansion, although

slightly below peak levels as global risk

sentiment shifted. The UAE, alongside

Saudi Arabia, was identified as a leading

contributor to this surge, reflecting

deeper institutional engagement in

sustainability-linked capital markets.

Within this landscape, standout green

bond transactions illustrate investor

confidence. For example, Dhafrah

Solar PV2 Energy Company issued

an approximately USD 870.75 million

green bond to refinance one of the

world’s largest solar plants, achieving

Climate Bonds Certification under

internationally recognised standards.

Likewise, Nasdaq Dubai welcomed

ICBC’s listing of USD 1.72 billion of

green bonds, not only signalling robust

international participation but also

strengthening the emirate’s role as a

global sustainable finance platform.

Beyond traditional green bonds, the

market is diversifying. In early 2026,

Emirates NBD issued a USD 1 billion

blue-green bond, the largest of its

kind in the UAE and Gulf region, to

finance marine ecosystem protection,

water efficiency and energy transition

initiatives, attracting significant global

investor interest, including major US

investment managers.

Innovative Sukuk and Sustainability-Linked

Instruments

Islamic finance continues to play a

pivotal role in meeting ESG demand

through green and sustainability-linked

sukuk. Emirates Islamic successfully

The UAE Ministry

of Finance remains

committed to ensuring

that financial policies

and frameworks fully

support the nation’s

long-term sustainability

objectives. We reaffirm

our commitment to an

orderly and just transition

toward achieving the

UAE’s Net Zero goal and

will continue crossgovernment

collaboration

to achieve this shared

objective and strengthen

the UAE’s global

leadership in sustainable

finance.”

H.E. Younis Haji Al Khoori, Undersecretary,

UAE Ministry of Finance

priced a USD 500 million Sustainability-Linked

Financing Sukuk, the first

of its kind globally, meeting strong

investor demand with oversubscription

and broad geographic participation.

Similarly, Dubai Islamic Bank (DIB)

raised USD 1 billion through its debut

sustainability-linked sukuk in late 2025,

twice oversubscribed and notable for

tying outcomes to measurable sustainability

performance targets and KPIs.

These innovative issuances signal

a maturing market: investors are increasingly

comfortable allocating to

instruments where environmental

impact isn’t merely stated but performance-linked,

reflecting a shift from

traditional use-of-proceeds models

toward measurable ESG outcomes.

Drivers of Investor Appetite

Several factors continue to underpin

strong investor demand in the UAE:

● Policy and Regulatory Momentum:

Government commitments, including

the UAE’s Net Zero by 2050 Strategic

Initiative and various sustainable

finance working groups, have

strengthened investor confidence

by providing clarity on climate goals

and reporting standards. Alignment

with the International Capital Market

Association (ICMA) Green Bond Principles

and Climate Bonds Standards

enhances transparency and quality.

● Diversification of Product Suite:

The emergence of blue bonds, sustainability-linked

sukuk and hybrid

instruments responds to evolving

investor preferences and broadens

the appeal beyond conventional

fixed-income allocations.

● Global Institutional Participation:

ESG-oriented asset managers, sovereign

wealth funds, pension funds

and regional banks are increasingly

embedding green assets into portfolios

as part of broader decarbonisation

strategies and fiduciary mandates.

● Market Infrastructure: Exchanges

such as Nasdaq Dubai are amplifying

visibility and liquidity by listing major

green and sustainable issuances,

connecting UAE issuers with a global

investor base.

Investor appetite for UAE green

bonds remains robust and continually

evolving. Supported by strong policy

backing, innovative financial products

and an expanding global investor

base, the UAE is shaping a dynamic,

sustainable finance environment. As

sustainability commitments deepen, the

UAE’s green bond ecosystem is poised

for growth and global integration.


Energy News

ACWA Power Starts 501 MWh Battery Operations in Uzbekistan

Saudi-based ACWA Power has

started commercial operations

of its 501 MWh Battery Energy

Storage System (BESS) at the Riverside

Solar complex in Uzbekistan’s Tashkent

region, marking a significant milestone

in the country’s renewable energy expansion.

The facility, which ACWA owns

outright, is part of a broader initiative

to enhance grid stability by pairing

large-scale solar with energy storage,

reinforcing Uzbekistan’s push toward

reliable, clean power infrastructure.

The BESS will support the integration

of renewable generation into the

national grid, helping balance supply

during peak demand or when solar

output fluctuates. This commissioning

follows international financing and

partnerships that underpin Uzbekistan’s

growing portfolio of solar and storage

projects, and aligns with regional

efforts to diversify energy sources

while reducing carbon emissions and

bolstering energy security.

UAE Highlights Strategic Energy and Industrial

Collaboration at Munich Security Conference

The UAE celebrated its deepening

energy and industrial partnership

with European nations at a

high-profile reception held alongside

the Munich Security Conference in

Germany. Hosted by Dr Sultan Al

Jaber, UAE Minister of Industry and

Advanced Technology and Special

Envoy to Germany, the event drew

over 300 business and government

leaders, emphasising strong cooperation

on energy security and sustained

investment. UAE entities, including

ADNOC, XRG and Masdar, have committed

more than €38 billion to energy

and industrial projects across Europe,

with a significant portion focused on

strengthening Germany’s energy resilience

and industrial competitiveness.

Speakers highlighted the importance

of reliable, long-term partnerships in

ensuring energy security and economic

growth. The gathering underscored the

UAE’s role as a dependable partner in

advancing diversified energy supply,

innovation, and deeper industrial ties.

TAQA Announces 48% Capex Surge to Nearly USD

4bn for 2025

Empower Posts Double-

Digit Profit Growth as

Revenue Hits $925M

Emirates Central Cooling Systems

Corporation Empower, listed on the

Dubai Financial Market, reported

record financial results for the year ended

2025, with revenues rising to AED3.4 billion

(USD925.6 million), up 4.9% year on year.

Net profit increased 10.5% to AED1.004

billion, reflecting sustained operational

strength. Profits attributable to shareholders

stood at AED993.3 million, while

total profit before tax reached AED1.103

billion, also representing growth of 10.5%

compared with 2024. Operationally, the

company delivered a robust performance,

with total connected capacity reaching

nearly 1.7 million refrigeration tonnes.

Contracted capacity expanded by 11% year

on year to approx 2 million refrigeration

tonnes, supported by the award of 186

new contracts during 2025.

Abu Dhabi-based Abu Dhabi National

Energy Company (TAQA) said its

capital expenditure for 2025 is set

to rise sharply as it accelerates investments

in critical infrastructure, reaching

nearly AED 14.5 billion (about $4 billion),

up roughly 48 % from the previous year.

The increase reflects a strategic push into

power generation, water, transmission and

distribution networks, supporting both

domestic and international projects that

strengthen energy reliability and capacity

amid rising demand. TAQA’s expanded

spending underpins key initiatives such as

the development of new power plants and

grid enhancements, as well as progress

on large-scale renewables and storage

integration. The higher capex aligns with

TAQA’s broader growth strategy to build

resilient utilities infrastructure, enhance

clean energy integration, and support longterm

expansion across its core markets.

This investment is expected to drive operational

efficiency, strengthen energy

security, and position the company as

a leader in sustainable utility solutions.


P&G Launches Solar

Carport in Dubai

Masdar and RWE partner on German Battery

Storage Expansion

Procter & Gamble (P&G), in collaboration

with renewable energy

developer Yellow Door Energy,

has commissioned a 500 kWp solar

carport at its regional headquarters

in Jebel Ali Free Zone, Dubai. The

installation comprises more than 870

bifacial solar panels and is projected

to generate approximately 816,500

kWh of clean electricity annually. The

system is expected to meet over half of

the facility’s electricity requirements,

delivering measurable cost efficiencies

while reducing exposure to conventional

grid power. In addition to energy generation,

the carport provides shaded

parking for 144 vehicles, enhancing

on-site infrastructure. The project is

estimated to offset nearly 330 tonnes of

carbon emissions each year, supporting

P&G’s Net Zero 2040 commitment. It

also aligns with the UAE Net Zero

2050 Strategy, highlighting growing

corporate participation in distributed

energy adoption.

Abu Dhabi Future Energy Company

PJSC – Masdar has signed a

Memorandum of Understanding

with German energy major RWE to advance

large-scale battery energy storage

system (BESS) projects in Germany. The

agreement outlines plans for Masdar to

explore equity participation in RWE’s

existing and pipeline BESS assets,

targeting up to 1 GW of operational

capacity by 2030. The partners will

also assess the joint development of

additional storage projects of up to 1 GW

by 2035. These initiatives are intended

to strengthen grid resilience, improve

integration of renewable generation,

and address increasing electricity demand

driven by electrification and data

centre expansion. The collaboration

reflects Masdar’s strategy to expand its

European footprint while supporting

Germany’s energy transition and longterm

decarbonisation through scalable

storage infrastructure.

UAE and Germany Strengthen Energy Cooperation

During German Chancellor’s Visit

The United Arab Emirates and

Germany reinforced strategic

energy cooperation as German

Chancellor Olaf Scholz visited Abu

Dhabi National Oil Company (ADNOC)

headquarters, underscoring shared

priorities around energy security, sustainability

and economic partnership.

During the visit, senior government

and industry leaders from both countries

held high-level discussions covering

energy transition, decarbonisation

technologies and investment opportunities

across the energy value chain.

The talks emphasised collaboration

on low-carbon fuels, clean hydrogen,

carbon capture, utilisation and storage

(CCUS), and expanding trade ties

that support global energy markets.

ADNOC reaffirmed its commitment

to supporting Germany’s energy diversification

goals while advancing its

decarbonisation, including increased

deployment of renewable solutions.

UAE Ministry of Energy,

Khazna and Agility Launch

Pilot to Deploy Phaidra AI

The UAE Ministry of Energy and

Infrastructure, in collaboration

with Khazna Data Centres and

logistics firm Agility, has launched a

pilot programme to implement Phaidra

AI, a cutting-edge artificial intelligence

platform designed to optimise energy

and infrastructure operations. The initiative

aims to enhance data analytics

capabilities, improve predictive maintenance,

and streamline decision-making

across critical national assets. By

integrating Phaidra AI into energy

infrastructure and logistics operations,

the partners expect to achieve higher

operational efficiencies, reduced latency

in system responses and improved

resource allocation. The pilot also

supports the UAE’s broader digital

transformation agenda, leveraging

AI to drive sustainability, resilience

and economic competitiveness. This

collaboration reinforces the strategic

role of advanced technologies in operational

excellence and infrastructure

optimisation.


Travel News

UAE’s Esports Sector Flourishes through Focused Strategic Initiatives

The UAE’s esports industry is enjoying

rapid expansion, driven by the

strategic vision and development

efforts of the UAE Esports Federation.

This focused approach has broadened

participation, elevated competitive

standards and positioned the country

as a rising force in both electronic

and phygital sports. Hosting major

events like the Games of the Future

2025 highlighted the nation’s ability

to stage internationally recognised

competitions, while the national team’s

involvement across multiple disciplines

underscored strengthened technical

capabilities. The Federation’s recent

accession as the 100th member of

the Global Phygital Network further

enhances the UAE’s global footprint in

this hybrid sporting domain. According

to Federation Secretary-General Saeed

Ali Al Taher.

Jumeirah Signs Partnership

with Emirates

Great Britain Team

Luxury hospitality brand Jumeirah

has entered a three-season global

partnership with the Emirates

Great Britain SailGP Team, strengthening

its presence across one of the world’s

most dynamic racing leagues. Under

the agreement, Jumeirah will serve as

the team’s Global Hotel Partner, bringing

its renowned Arabian hospitality

to SailGP race events and curated

experiences throughout the season.

The collaboration aligns Jumeirah’s

maritime heritage — reflected in its

oceanfront properties like the Burj Al

Arab and Olhahali Island — with the

high-performance ethos and sustainability

focus of SailGP, where teams compete

on cutting-edge F50 catamarans and are

evaluated on both racing and environmental

performance. This partnership

amplifies Jumeirah’s global visibility

across key markets while supporting

shared commitments to positive impact

on communities and oceans.

Gulf Sports Clubs Poised to Unlock High-Growth

Commercial Revenue

A

new industry report highlights

substantial commercial opportunities

for sports clubs across the

Gulf as they navigate a rapidly evolving

sports economy. Traditionally reliant

on broadcast rights and matchday

income, clubs are now encouraged to

diversify revenue by expanding into

sponsorship bundles, digital fan engagement

platforms, hospitality services

Organisers of the Dubai Duty

Free Tennis Championships

have outlined a comprehensive

two-phase expansion of the event’s

venue, marking the most significant

upgrade in its three-decade history.

The redevelopment, initiated ahead of

the 2026 edition and culminating in a

full build-out by 2027, aims to enhance

capacity, fan engagement and overall

tournament experience. Initial improvements

include a new temporary Court

One and expanded public areas, with

the second phase set to increase Centre

Court seating by roughly 50 per cent

and introduce upgraded concourses,

hospitality spaces and refreshed fan

zones. These enhancements will support

the tournament’s status as a premier

global sporting event, attracting top

and alternative income channels. The

analysis points out that Gulf clubs can

draw lessons from European counterparts

that have successfully monetised

youth academies, and tech-enabled fan

ecosystems, bolstering financial resilience

and long-term competitiveness.

Experts say embracing a multidimensional

revenue model will be central

to future commercial success.

Dubai Duty Free Tennis Launches Expansion Plan

ATP and WTA players while offering

enriched engagement for spectators

and partners alike.


Sports Coordination Council Convenes First 2026 Meeting

The UAE Sports Coordination Council

convened its first meeting of

2026, chaired by H.E. Dr Ahmad

Belhoul Al Falasi, Minister of Sports,

with senior officials from federal and

local entities in attendance. The session

focused on enhancing collaboration

across the national sports ecosystem,

advancing good governance and integrating

efforts to foster sports participation

and competitiveness in line with the

UAE National Sports Strategy 2031. Key

discussions included the establishment

of unified electoral and appeals committees

for sports federations to ensure

procedural fairness and integrity, as well

as the UAE’s historic participation in

the Winter Olympic Games in Milan and

Cortina d’Ampezzo. Council members

reaffirmed commitments to athlete

support, institutional autonomy and

coordinated strategic planning across

entities to build a cohesive, environment

that promotes community engagement.

Flydubai Adds Double-

Daily Flights Between

Dubai and Bangkok

Dubai-based carrier flydubai

has announced the launch of

double-daily services to Bangkok,

enhancing connectivity between

the United Arab Emirates and one of

Southeast Asia’s top travel destinations.

Starting 15 September 2026, the

new flights will operate between Dubai

International Airport Terminal 3 and

Don Mueang International Airport in

Bangkok, increasing flydubai’s Thailand

schedule to 28 weekly flights and

reinforcing the airline’s commitment to

expanding its footprint in the region.

The additional frequencies will offer

both leisure and business travellers

greater flexibility and choice while

strengthening Dubai’s role as a global

transit hub with seamless links to

Asia, Europe and the Gulf. Through its

codeshare partnership with Emirates,

passengers will benefit from integrated

booking, baggage handling and broader

network access across more than

240 destinations worldwide. flydubai’s

expanded Thailand services reflect

growing demand for travel between

the Gulf and Southeast Asia and contribute

to deeper aviation and tourism

ties between the UAE and Thailand.

UAE and Bahrain Launch One Point Travel Pilot

to Streamline Airport Procedures

The United Arab Emirates and

the Kingdom of Bahrain have

launched the pilot phase of the

“One Point Air Travellers” initiative

to simplify cross-border travel and

reduce airport processing times for

citizens travelling between the two

nations. The programme enables

passengers to complete immigration,

security and entry procedures at their

departure airport, currently Zayed

International Airport in Abu Dhabi

and Bahrain International Airport,

removing the need for repeat checks

upon arrival. The initiative is being

implemented by the UAE Federal Authority

for Identity, Citizenship, Customs

and Port Security in coordination

with Bahrain’s Ministry of Interior and

supported by the General Secretariat

of the Gulf Cooperation Council. By

integrating biometric verification,

The Tourism Development Fund

(TDF) has entered into a memorandum

of understanding with the

global hospitality operator Palladium

Hotel Group to jointly evaluate potential

tourism development projects across

multiple regions in Saudi Arabia. The

agreement is designed to strengthen

collaboration between the two organisations,

enabling them to identify and

examine opportunities, assess investment

structures, and conduct feasibility studies

for future ventures in line with the

Kingdom’s National Tourism Strategy and

Saudi Vision 2030. This strategic initiative

marks a further step in TDF’s mission to

smart gates and secure data exchange

systems, the project aims to enhance

operational efficiency, strengthen regional

connectivity and create a faster,

more seamless passenger journey.

TDF and Palladium Hotel Group Join Forces to

Assess Tourism Development Prospects

attract international expertise and elevate

Saudi Arabia’s tourism sector by inviting

leading global brands to participate in

high-quality hospitality and lifestyle

projects. The MoU will initially target

tourism investment in Jeddah and Yanbu.


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