M&A-

#1- GFH Partners acquires Manrre REIT: GFH Partners, the Dubai-based global asset management arm of Bahraini GFH Financial Group, acquired Manrre REIT, a logistics and industrial assets fund registered with Nasdaq Dubai’s share depository, for USD 75.5 mn, becoming its sole fund manager, according to a DFM disclosure (pdf). The transaction is part of GFH Partner’s global expansion strategy. The company already operates in the US, UK, and GCC region.

About the fund: Established in 2018 by Palmon Group, the AED 500 mn Manrre REIT Portfolio includes 26 diversified logistics and industrial properties primarily in the UAE.

#2- Saudi Arabia’s Lana Medical finalized the acquisition of a 50% stake in Emirati medical device manufacturer Wavelight Technologies after completing all required procedures, it said in a filing to Tadawul. The purchase was financed via Lana Medical’s internal company resources and comes in a bid to expand the firm’s regional partnerships and increase market share.

#3- Burjeel Holdings’ subsidiary Burjeel KSA fully acquired Makkah-based Specialist Physiotherapy Center for SAR 6.5 mn, according to its ADX disclosure (pdf). The center will be integrated into Burjeel’s physiotherapy and wellness network PhysioTherabia with plans to introduce new services, including pediatric and neurorehabilitation and advanced technologies such as a cryo chamber and the David System for physiotherapy.

About the Specialist Physiotherapy Center: Founded in 2017, the Makkah-based center specializes in sports injuries, pediatric care, and post-surgical rehabilitation. It caters to the needs of Umrah and Hajj pilgrims, and saw a 2.1x increase in revenue to SAR 3.8 mn from 2021 to 2023.

The company is ramping up its investments abroad: The healthcare provider partnered last month with the health ins. firm Aasandha Company to provide Maldivian patients with medical treatments at Burjeel Medical City in Abu Dhabi. The firm also inked an agreement with Modon Holding back in October to develop multi-specialty healthcare facilities in Egypt as a part of the Ras El Hekma megaproject. Meanwhile, it is currently developing the UAE’s largest fertility clinic within its medical facilities.

#4- Enersol wraps up its NTS Amega acquisition: Adnoc Drilling and Alpha Dhabi’s joint venture Enersol finalized its acquisition of a majority 51% stake in manufacturing solutions provider NTS Amega from Alpha Dhabi, according to a statement (pdf). The involved parties previously disclosed the transaction value to be USD 58 mn, which is the same amount for which Alpha Dhabi acquired it in October 2023.

REMEMBER- Enersol plans to invest another USD 750 mn in acquisitions of oilfield services tech firms in 2025, using up the rest of its USD 1.5 bn budget for acquisitions, Adnoc Drilling CFO Youssef Salem told EnterpriseAM UAE last month. The JV acquired stakes in four firms last year, including manufacturing solutions provider NTS Amega, oil engineering firm Gordon Technologies, Deep Well Services, and EV Holdings

INFRASTRUCTURE-

Dubai kickstarts second phase of AED 400 mn Al Mamzar Beach Development: Dubai awarded contracts for the second phase of the Al Mamzar Beach Development Project, set to be completed by the end of 2025, Wam reports. The contracts cover beach infrastructure improvements and connecting Al Mamzar Creek and Corniche.

The details: The second phase will stretch 125k sqm, and includes 1k-meter paths for running, walking, and cycling linking Al Mamzar Creek Beach and Al Mamzar Park. The area will include a women-only public beach with gated access, night swimming, sports club, and children’s play areas, and will be divided into recreational areas, including waterfront restaurants and F&B outlets, green spaces, seasonal event areas, skateboarding zones, and beach lounges.

Background: Dubai’s Higher Committee for Urban Planning and Well-Being allocated AED 355 mn for the development of 5.7 km of public beaches at Al Mamzar and Jumeirah 1 in early June. Phase one, spanning 275k sqm, is now 45% complete, including a 200-m pedestrian bridge connecting creek banks, a night swimming beach, a 5 km walkway with dedicated running and cycling tracks, and recreational zones. Combined, the two phases represent a total investment of AED 400 mn.

LOGISTICS-

Emirates SkyCargo is deploying a weekly Boeing 777 freighter to Copenhagen Airport, with a capacity for 85 tons of cargo to cope with a recent 20% increase in shipping volume from Denmark, according to the Dubai Media Office. The freighter will also cater to neighboring countries like Norway and Sweden.

STARTUPS-

The Sharjah Foundation to Support Pioneering Entrepreneurs (Ruwad) launched an industrial sector financing program with a maximum financing limit of AED 800k, Wam reports. Ruwad financed two industrial projects last year totaling AED 550k and reported an increase in member projects to 17 in the industrial sector.

ENERGY-

McDermott opens a center of excellence in Dubai: US-based energy engineering firm McDermott inaugurated a welding and tech center of excellence in Dubai's Jebel Ali Freezone aimed at advancing subsea pipeline fabrication and installation, the company said in a statement. The facility offers welding, pipeline coating, non-destructive testing, and production simulation services.

HEALTHCARE-

The Abu Dhabi Stem Cells Center developed clinical-grade induced pluripotent stem cells (iPSCs) for the first time in the Middle East, according to the Abu Dhabi Media Office. IPSCs are used in treating several illnesses, including neurodegenerative disorders such as Pakinson’s and Alzhemir’s and diabetes. They also allow for personalized, autologous therapies that reduce immune rejection risks.

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