UTILITIES-

Parkin partners with Batic to expand parking services in Saudi Arabia: Dubai’s public parking operator Parkin will collaborate with Smart Cities Solutions Company, a subsidiary of Saudi firm Batic Investments and Logistics, on expanding paid parking services in Saudi Arabia under an MoU it signed with Batic, according to a disclosure (pdf) from Parkin. The companies will collaborate with municipalities, real estate developers, operators of shopping centers, and hotels, among others.

ALSO- The partnership will mull the deployment of technologies like AI, real-time data analysis, digital gates, sensors, and smart cameras in parking facilities.

BLOCKCHAIN-

#1- FAB + Libre Capital mull developing tokenized lending solutions: First Abu Dhabi Bank (FAB) partnered with London-based Libre Capital to create a fully automated, blockchain-based lending ecosystem that uses tokenized fund assets as collateral, according to a press release. The first phase will see them pilot a credit line for stablecoins, backed by tokenized money market funds, the statement read, adding that the platform will feature real time NAV updates via oracles, and smart contract-enabled loan monitoring, the statement read.

About Libre Capital: A Further Ventures -backed startup, Libre Capital specializes in blockchain-based investment infrastructure. It partners with alternative asset managers and wealth advisors to facilitate access to global alternative markets through tokenization.

#2- Rak Dao collaborates with India Blockchain Alliance to strengthen blockchain ties: RAK Digital Assets Oasis (Rak Dao), a digital asset-focused freezone in Ras Al Khaimah, partnered with the India Blockchain Alliance (IBA) to facilitate cross-border business expansion in the sector, according to a press release. The partnership will facilitate Indian blockchain businesses’ access to the UAE market, while similarly supporting Emirati companies’ access to IBA’s networks.

REAL ESTATE-

#1- Dubai-based developer Tranquil Infra broke ground on Blossom 76, a USD 50 mn residential project in Jumeirah Village Circle, according to a press release.

#2- Dubai-based developer Mered tapped Sera Group to be the general contractor for its upcoming Iconic Tower project, according to a statement (pdf) from Mered. The residential project will feature 310 units and is scheduled for handover in 3Q 2027.

CRYPTO-

Bitpanda edges closer to launching its business in the UAE: Austrian unicorn and digital assets trader Bitpanda received preliminary approval from Dubai’s Virtual Assets Regulatory Authority to operate in the UAE, according to a press release. The company is gearing up to operate from its office in the Dubai Multi Commodities Center as Bitpanda Broker Mena DMCC upon getting the authority’s final approval.

BUSINESS-

Dubai-based conglomerate 7X partnered with Standard Chartered’s fintech investment arm SC Ventures to support SMEs, according to a press release. The partnership aims to create SME-focused ventures and develop a minimum viable product to offer them scalable and tech-based solutions. SC Ventures also plans to launch an SME-focused platform by 2H 2025 to enable cross-border trade and facilitate safe and profitable growth for these companies.

Tags: