BANKING-

Our friends at Mashreq will launch their new digital corporate banking platform, Neo Corp, in Egypt, after obtaining the necessary regulatory approvals, according to a press release (pdf). The platform offers 24/7 online access to comprehensive money management and trade finance services.

About the platform: The one-click interface offers a comprehensive range of cash management and trade services — including account services, payments, collections, guarantee management, import and export trade services, post-dated cheque discounting, and supplier financing.

A wide reach: The lender launched Mashreq Neo Corp in Qatar, Kuwait, and Bahrain last year, with plans to roll out the digital banking platform across other Gulf countries. But Egypt will be the first country to go live with the full suite of Mashreq Neo Corp products and services and the only country outside the UAE to “enjoy the broadest set of products and services equivalent to that offered in the UAE.”

REAL ESTATE-

#1- DGP launched sale on AED 900 mn Marriott development: Dubai General Properties (DGP) launched sales for its Marriott Residences Sheikh Zayed Road project in Dubai, a development valued at AED 900 mn, according to a press release. Prices for the 110 off-plan residential apartments start at AED 2.6 mn. The project, which is expected to be completed in 4Q 2025, is a collaboration between DGP and developers Driven Properties and Refine Development. Refine has AED 16.3 bn of developments planned for 2025.

The rationale: The development aims to cater to increased demand for high-end residential properties on the back of an uptick in international investment, the press release said. Real estate transactions in Dubai totaled AED 761 bn in 2024, accounting for 54% of GCC transactions in the sector.

#2- India-based real estate developer Sugee Group is expanding in the UAE, targeting the development of over 10k residential and commercial units, it said in a press release. The group secured lands for residential developments in Ras Al Khaimah. A project in Al Marjan — set to be unveiled in the next 60 days — will be followed by developments in Rak Central and Dubai. The firm committed to developing over 15 mn sq ft in projects over the next three years.

About Sugee Group: Sugee already has an office in Dubai and has a global gross development portfolio of USD 10.1 bn, mainly concentrated in Mumbai and Lisbon.

#3- DHG Properties expands Dubai portfolio: DHG Properties, the Dubai-based arm of Swiss developer DHG Holding, is launching an AED 260 mn residential project on Dubai Islands, marking its third residential project in Dubai and second major investment this year, Khaleej Times reports. The 11-story development will include 100 premium apartments, covering 14.5k sqm of built-up area.

ICYMI- DHG lined up an AED 300 mn residential development in Meydan Bukadra last month, after launching its debut project in Dubai — the AED 200 mn Helvetia Residences in Jumeirah Village Circle — last year. With this latest expansion, the company’s total Dubai portfolio value now stands at nearly AED 1.3 bn.

TECH-

Presight launches unified data and AI platform: Data analytics company Presight has launched Presight Synergy, an enterprise-grade platform for data management, AI analytics, and business intelligence, Presight said in a press release (pdf). The platform aims to provide solutions for issues like fragmented AI tools, siloed data systems, and high integration costs. Presight Synergy could reduce development and production by 50%, lower software coding needs by 30%, and decrease professional service fees and manpower requirements by 50%.

TRADE-

Adio partners with Shanghai: The Abu Dhabi Investment Office (Adio) inked an agreement with the Shanghai Municipal Commission of Commerce during the Abu Dhabi Investment Forum in Shanghai to boost trade and investment in finance, technology, education, healthcare, and tourism, according to the Abu Dhabi Media Office.

ICYMI- The Abu Dhabi government signed a cooperation agreement with Shanghai’s Municipal People’s Government during a visit by an economic delegation to China earlier this week.

INS.-

Ins. providers Liva Group and Relm Ins. have partnered to deliver ins. solutions tailored for technology companies in emerging sectors, including AI, digital assets, and biotech, according to a press release. The partnership aims to address the unique risks faced by businesses in these industries. The partnership will initially operate in the UAE and Bahrain, with plans to extend its solutions to Oman, Saudi Arabia, and other MENA markets.

MANUFACTURING-

Abu Dhabi’s SDF and Regent ink an agreement to produce electric seagliders:

Abu Dhabi’s Strategic Development Fund (SDF) agreed to form a JV with US-based Neom-backed electric seaglider manufacturer Regent to manufacture electric seagliders in the UAE, pending approvals, according to a statement. The JV will supply seagliders to the Middle East, Africa, and other regions, with aftermarket maintenance services.

The two go back a long way: SDF, part of Edge Group, first invested in Regent in 2023, and increased its stake last year, with plans for additional funding post-approval. Regent aims to establish a UAE plant alongside its 255k-sq-ft Rhode Island facility.

Regent ❤️ Abu Dhabi: Adio partnered with Regent last year to produce electric seagliders in Masdar City's Smart and Autonomous Vehicles Industry cluster.

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