TECH-

Presight launches Kazakhstan’s first national supercomputer: Data analytics firm Presight has launched Kazakhstan’s first national supercomputer under a partnership with Kazakhstan’s Digital Development Ministry, according to a disclosure (pdf). The system helps support large-scale AI model training, secure data infrastructure, and cross-border collaboration with the MENA region.

Presight has had Kazakhstan in its data loop for a while, announcing in May that it will deliver two Nvidia H200 superpods for a new data center in Astana to support its smart city project. The firm also opened its first overseas office in Kazakhstan that month, while back in 2023, it formed a JV with Kazakhstan’s sovereign wealth fund Samruk-Kazyna to use Presight’s big data in the central Asian country’s energy, public services, and transport sectors.

STARTUPS-

eVoost AI signs EUR 860 mn sales agreement with Hercesa: Abu Dhabi-based proptech and AI startup eVoost has entered into an EUR 860 mn sales agreement with Spanish real estate firm Hercesa to use the proptech’s “emotional AI” in Hercesa’ marketing campaigns in Spain, Portugal, Bulgaria, and Romania, according to a statement on LinkedIn.

Hercesa will deploy eVoost’s virtual AI agents to automate its real estate sales processes, providing buyers with personalized property recommendations and real-time analytics into the real estate industry.

BACKGROUND- eVoost AI secured an undisclosed amount from Qora71 in a seed funding round in June, marking the syndicate’s first lead investment.

M&A WATCH-

Shrimp Nation hooks Olive Rock for expansion: Saudi seafood restaurant concept chain Shrimp Nation sold a 30% stake for an undisclosed sum to UAE-based private equity firm Olive Rock Partners to fund its expansion across the Kingdom and beyond, according to a press release.

About Shrimp Nation: Founded by Mohammed Abualizz (LinkedIn) in 2018, Shrimp Nation operates 35 branches fusing local and international flavors across the Middle East region, including the Kingdom, Jordan, Egypt, Bahrain, and Qatar.

REAL ESTATE-

New AED 400 mn Ras Al Khaimah residences in the works: Indian developer Mantra Properties and American watchmaker Jacob & Co have partnered to develop the Jacob & Co Residences on Al Marjan Island in Ras Al Khaimah, according to a press release. The AED 400 mn project marks Mantra’s first venture in the UAE, whilst Jacob & Co’s previous local projects include an AED 4.7 bn residential build in Al Jurf. Mantra is looking to generate AED 1.3 bn in sales value through five new projects in the Emirates over the next three years, the statement read.

TRANSPORT-

Dubai’s RTA begins AED 633 mn upgrade to slash commute times: Dubai’s Roads and Transport Authority (RTA) awarded a contract to develop Al Mustaqbal Street as part of an AED 633 mn project, according to a press release. The works will span from the intersection with Za’abeel Palace Street to Financial Center Street.

The project includes building 1.7k meters of bridges and tunnels, while widening the road from three to four lanes in each direction. These improvements will boost capacity by 33% to 8.8k vehicles per hour and cut travel time from 13 to six minutes. 500k users are set to pass daily through the upgraded corridor which will serve major commercial hubs including Dubai World Trade Centre and Dubai International Financial Centre.

INS.-

CBUAE rescinds Al Khazna Ins.’ license: The Central Bank of the UAE (CBUAE) revoked the license of Al Khazna Ins. for failing to meet licensing requirements during its suspension period, according to a statement (pdf). The decision followed examinations confirming continued non-compliance with the federal ins. law.

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