SPACE-

The UAE Space Agency and the Egyptian Space Agency have signed an MoU to boost cooperation in space activities for peaceful purposes, state news agency Wam reports. The agreement, signed on the sidelines of NewSpace Africa and the Arab Space Cooperation Group meeting, sets a long-term framework for collaboration on scientific research and development, technology exchange, and joint space projects in areas such as Earth observation, navigation, and space situational awareness.

PORTS-

#1- Hutchinson offers container services at Saqr Port: Saqr Port Authority-managed Ras Al Khaimah Ports (RAK Ports) has inked an extension agreement with Hong Kong-based Hutchison Port Holdings to continue to offer its container terminal services at Saqr Port until 2037, according to a statement. The agreement should help further boost links between Saqr Port — the region’s biggest bulk-handling port — and Asian markets.

#2- Dubai’s Ports, Customs, and Free Zone Corporation launched its new arm Digital Zero 4, a digital window specializing in smart transformation in business operations, according to a statement. The platform will serve as a commercial front for integrating technological and AI supported solutions in the logistics sector, including commercial licensing, civil engineering, port security, maritime operations, and advanced customs processing.

CRYPTO-

Gate Group secures full crypto license in Dubai: Gate Dubai, part of global crypto player Gate Group, has obtained a virtual asset service provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority to provide crypto exchange services to institutional, qualified, and retail investors, the company said in an announcement. The firm is now ramping up local hiring and preparing to launch its platform offering crypto-to-crypto and fiat-to-crypto trades.

CONSTRUCTION-

JA Sports & Shooting Club launches AED 300 mn Dubai complex: Construction is underway on Dubai’s JA Sports & Shooting Club, a multi-sport complex with an investment ticket of over AED 300 mn, according to a press release. The complex will open over several phases starting from the end of this summer. The facility includes six international-standard football pitches, a cricket oval, a 15k sqm indoor shooting range, and integrated cycling and jogging tracks linked to the group’s hotels.

M&A-

#1- Dubai-based real estate and private equity firm Sweid & Sweid acquired Aurora Tower, a 27-story office building in Dubai Media City, for an undisclosed sum, according to a press release. The 223k sq ft Grade-A asset — home to tenants including Spotify, Universal Music Group, Nielsen, and The Economist Group — marks the firm’s fourth project in the district.

ICYMI- The firm recently secured an AED 460 mn amortizing term loan from Arab Bank to finance Sweid One, its 500k sq ft Grade-A office tower in Jumeirah Lakes Towers. The project, which the developer unveiled in 2023 in partnership with Dubai Multi Commodities Center, is scheduled for completion in 2026.

#2- Tadawul-listed Walaa ins. inches closer to acquiring 88% of Dubai-based AspireUnderwriting Agency for SAR 68 mn after it had lined up approval from the Ins. Authority, it said in a filing to Tadawul. The transaction, which is still pending approval from the Dubai Financial Services Authority, is part of Walaa’s strategy to expand its inbound reins. footprint.

#3- Janikin Energy, a global engineering staffing firm, acquired a stake in Dubai-based Diverse Resourcing, aiming to enhance its recruitment capabilities in the UAE, Khaleej Times reports. The partnership will focus on job placement, workforce mobility, and regulatory support in technical fields. Janikin is also in talks with local institutions to explore workforce development collaborations.

REAL ESTATE-

Damac Properties partnered with Chelsea FC to launch Chelsea Residences, a football-themed real estate development in Dubai Maritime City, Gulf Business reports. The project will feature over 1.4k residential units with seafront views and Chelsea-branded amenities focused on health, fitness, and wellbeing. The full development timeline and specifications are expected to be announced later this year.

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