REAL ESTATE-

Shapoorji Pallonji makes int’l debut with AED 1.4 bn Dubai build: Indian conglomerate Shapoorji Pallonji completed its first international residential project, a 45-story tower in Downtown Dubai called Imperial Avenue, Trade Arabia reports. The AED 1.4 bn project is backed by London-based alternative asset management firm Hayfin Capital and the UAE’s Commercial Bank International. The project has been certified by Dubai’s Real Estate Regulatory Authority, with property inspections and handovers now underway.

No stranger to the Emirates: Shapoorji is also working on 275 villas on Dubai Holding’s Palm Jebel Ali, and it was also awarded a contract for construction work in Abu Dhabi’s Mangrove Residences.

CONSTRUCTION-

Dar Global awards AED 201.5 mn main works contract for RAK project: Dubai-based real estate developer Dar Global awarded GCC-based Gulf Asia Contracting an AED 201.5 mn main works contract for The Astera, its residential development on Al Marjan Island in Ras Al Khaimah, the company said in a statement. The contract comes after Stromek Emirates Foundations wrapped up shoring, excavation, and piling works, and will cover full construction of the tower’s superstructure and finishes.

REMEMBER- Launched in June 2024, the Astera is an AED 900 mn beachfront development that luxury carmaker Aston Martin is designing the interiors for. The project includes apartments and villas, and is slated for completion in December 2028. It is being developed in partnership with Dubai-based developer Aarvees Group.

FINANCIAL SERVICES-

Network International taps Wio Bank to offer digital SME loans: Dubai-based payments provider Network International partnered with homegrown digital-only bank Wio to integrate the bank’s lending products into Network’s digital merchant lending platform, according to a statement. Eligible SME merchants will be able to apply for loans and receive personalized offers based on real-time transaction data through the initiative, which aims to improve credit access for SMEs in the UAE.

AVIATION-

Etihad to expand Caucus, central Asia, KSA network: Etihad Airways will launch flights to seven new destinations from next March, expanding its network in central Asia and the Caucus, according to a press release. The additions include Kazakhstan’s Almaty, Baku in Azerbaijan, Tashkent in Uzbekistan, as well as Bucharest, Tbilisi, and Yerevan. A route to Saudi Arabia’s Medina will begin earlier in November of this year.

Etihad is on an expansion streak: Etihad recently added three new seasonal routes to its network, with plans to fly to Kazan in Russia from December, Salalah in Oman from next May, and Krakow in Poland from June 2026.

MANUFACTURING-

Ducab Group secures cable contract for Hong Kong hospital project: Dubai Cable (Ducab) will supply cables to the Acute Hospital in Hong Kong, according to a press release. The hospital, scheduled for completion by the end of next year, is set to be one of the largest in the city with 2.4k beds and 37 operating theaters.

The details: Ducab will provide over 40k km of building wires and 15k km of fire-resistant cables for emergency power continuity. The hospital project is backed by Hong Kong’s government.

BUSINESS-

Emirates NBD, Dubai to offer governance, succession planning for family firms: The Dubai Center for Family Businesses signed an MoU with Emirates NBD to support family-owned companies with governance, succession planning, and family office structuring, according to the Dubai Media Office. The center will provide services including governance maturity assessments, family charter development, and tailored advisory.

REMEMBER- An estimated USD 1 tn is set to be controlled by the Emirates’ wealthiest families by 2026, and the government is keen to implement formalized processes to avoid up to USD 49 bn floating around unaccounted for if generational succession plans aren’t in place.

FINTECH-

UAE fintech firms Telr + Peko launch new platform: UAE-based payment gateway solutions provider Telr and business payments-focused fintech Peko have joined forces to launch Telr Incepta, according to a press release. The tech platform aims to offer SMEs tech solutions to manage their financial and business operations. It centralizes 50 services like business registration, license renewal, and automated reporting, and will be immediately available to Telr’s existing 30k clients. QR payment and buy-now-pay-later options will also be available.

COMMODITIES-

Zarea establishes Dubai subsidiary for regional expansion: Pakistan’s commodities B2B platform Zarea incorporated a wholly-owned subsidiary in Dubai, named Zarea Commerce, according to a bourse disclosure (pdf) to the Pakistan Stock Exchange. The new entity will serve as the company’s regional headquarters and will focus on technology-driven B2B trade and international market access, the disclosure said.

LOGISTICS-

Tesco will develop a multi-mn GBP distribution center at DP World’s London Gateway port, according to statements here and here. Tesco will tap German logistics firm Witron for its smart automation systems to bolster throughput, reduce waste, and ensure a seamless distribution network. The center is slated to open in 2029.

DP World’s been preparing for this: The port operator acquired Hong Kong-based logistics firm Cargo Services Far East last year — accumulating more than 200 freight forwarding offices by the end of 2024. The move enabled DP World to have exposure to nearly 95% of global trade flows.

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