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FINTECH-
CBUAE + Etihad Payments to advance open finance in the Emirates: The Central Bank’s subsidiary Al Etihad Payments has joined forces with Core42, an AI company under G42, to initiate the rollout of Open Finance in the UAE, according to a {press release}. This partnership is one component of CBUAE's extensive Financial Infrastructure Transformation (FIT) Programme announced inFebruary, which aims to accelerate the digitization of the financial services sector.
Open finance? Open finance is a system that allows consumers to link and exchange data throughout the entire financial ecosystem.
Phases of implementation: The rollout will start with open banking, followed by open ins., aiming to serve the majority of the UAE by 2024.
HOSPITALITY-
AHS lands in Dubai: Bangkok’s Absolute Hotel Services (AHS) Group will sign and operate AHS-branded properties in the Middle East and Africa, after establishing a JV with hotel management firm Dex Squared, it said in a statement. The JV, dubbed AHS MEA, seeks to sign 20 branded hotels and five golf and country clubs within three to five years, focusing on Dubai and key destinations across the region. It will be headquartered in Dubai, with AHS Founder and CEO Jonathan Wigley (LinkedIn) serving as president.
About AHS: The company manages 40 hotels and golf clubs, and has another 40 projects in development. Its brands include Eastin Grand Hotels and Resorts, Eastin Hotels, Resorts and Residences, Eastin Estates, U Hotels and Resorts, and Absolute Collection brands.
REAL ESTATE-
Dubai property market goes global? Dubai-based software developer Amp Technology launched a platform in collaboration with the Dubai Land Department to connect Dubai’s real estate market with global markets using Multiple Listing Service (MLS) technology, Amp Technology BOD Chairman Ahmed Al-Batrawi told Bloom. The platform, dubbed Dubai MLS, allows developers, marketers, and government agencies to view available properties in the emirate, including detailed data on location, nearby services, prices, and handover dates.
More to come: The company plans to expand in Egypt, Saudi Arabia, Bahrain, Oman, and Qatar, in a bid to link regional markets with global ones, Al-Batrwai added.
