REAL ESTATE-

#1- Marjan has completed infrastructure works at RAK Central — its mixed-use commercial development in Ras Al Khaimah, state news agency Wam reports. The development, located close to the E-11 highway, spans 3.1 mn sq ft and features over 4k residential apartments and rental office spaces. With the foundation now in place, sub-developers are expected to begin commercial, residential, retail, and hospitality projects. The development also offers 100% foreign ownership.

First up: Construction group Alec Engineering and Contracting has been tapped as the main contractor for RAK Central’s HQ Office Complex — slated for completion in 1Q 2027.

#2- Al Huzaifa debuts AED 450 mn Soléva Beach Residences: Al Huzaifa Properties — the recently launched real estate arm of luxury furniture and interiors brand Al Huzaifa — launched its first development on Marjan Island in Ras Al Khaimah, the AED 450 mn Soléva Beach Residences, according to a press release. The residential development is slated for completion in 4Q 2027 and will feature 232 units including 111 studios, 101 one-bedroom apartments, and 20 two-bedroom apartments — each with integrated private pools.

OIL AND GAS-

Emirates National Oil Company’s (Enoc) subsidiary Dragon Oil inked a USD 40.5 mn agreement with Egyptian state oil firm the Egyptian General Petroleum Corporation to drill three new wells in East El Hamd, according to a statement. The agreement involves investments of up to USD 30 mn, according to a separate statement from Dragon Oil, which will see it drill two new wells. It will also pay an additional USD 4.5 mn bonus.

REMEMBER- Dragon Oil is also vying for the North July oil field concession in northeast of the Gulf of Suez, alongside others like Saudi-based Ades Holding and Egypt-based Cheiron Petroleum. The company previously committed to investing USD 500 mn in Egypt in 2025 for operational and capital expenditures and is eyeing further investments in the country.

LOGISTICS-

AD Ports-backed JV launches Comoros’ first passenger + auto ferry service: Serdal International, a joint venture between AD Ports Group and Abu Dhabi-based Resources Investment, has rolled out a new ferry service linking Grande Comore and Anjouan in the Comoros, according to a press release. The service is the first in the archipelago to carry both passengers and vehicles.

The vessels: Operated by AD Ports’ Noatum Maritime, the Yameela has capacity for 190 passengers and 45 vehicles. The route connects Moroni — the capital and main maritime gateway on Grande Comore — with Mutsamudu on Anjouan.

M&A WATCH-

El Banna Group acquires Al Dahra’s citrus farm in Egypt: El Banna Group — one of Egypt’s largest citrus producers and exporters — has acquired UAE-based agribusiness firm Al Dahra Group’s citrus farm and packhouse in Salheyia, according to a press release (pdf) from Zilla Capital, who acted as sole financial advisor to Al Dahra.

AGRICULTURE-

Abu Dhabi expands farm activities: Abu Dhabi is permitting 74 new economic activities on agricultural land, bringing the total to 145, according to an Abu Dhabi Media Office statement. The newly approved activities include plant production, food support services, industrial uses, and limited recreational options.

Background: The move builds on a 2023 decision that first allowed farms to host commercial activities, under which more than 480 farms obtained new or amended licenses.

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