FINANCIAL SERVICES-

Mashreq takes Climb2Change to India: Our friends at Mashreq launched the next phase of the Climb2Change initiative with a clean-up expedition along Himachal Pradesh’s Kheerganga and Hampta Pass trails in India, according to a statement (pdf). The mission, which runs through 18 October, will focus on waste removal, community engagement, and promoting responsible tourism in the Himalayan ecosystem.

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Climb2Change? The initiative aims to clean up 14 mountain sites worldwide, including seven peaks and seven base camps. It has so far included expeditions in Nepal, Pakistan, and Egypt’s Wadi Degla. The clean-ups have eliminated around 6.8 tons of waste to date, the statement read.

M&A WATCH-

Investcorp makes another US exit for USD 365 mn: ADX-listed private equity firm Investcorp Capital exited its stake in a US-based industrial real estate portfolio valued at USD 365 mn, according to an ADX disclosure (pdf). While the company did not disclose the income generated from the sale, it said the divestment is part of a broader sale of a portfolio managed by Investcorp, comprising 3.5 mn sq ft of prime industrial assets across locations in Chicago and Ohio.

ICYMI- Investcorp has been busy exiting assets as it looks to realize gains while reallocating capital. So far this year, it has offloaded 12 US multifamily real estate assets for USD550mn, brought in a 4x return through a full divestment from India’s CityKart, and sold an industrial US portfolio for USD 360 mn. On the flip side, it invested in Italian payments firm Epipoli back in February and acquired a USD 200 mn portfolio of North American and European assets in growth sectors like tech and business from its parent company, Investcorp Group.

MANUFACTURING-

Italian polymers manufacturer Roboze opened a new office in Abu Dhabi, as it looks to localize its manufacturing operations in the Emirates, according to a press release. The manufacturer specializes in 3D printing using high-performance super polymers and composite materials.

The rationale: Roboze aims to tap into growing demand in the Emirates for local production of critical components for the aerospace, defense, transportation, and oil and gas sectors, the release says. It will cooperate with prominent Emirati industry players as it looks to streamline supply chain security.

REAL ESTATE-

Dubai-headquartered real estate developer Dar Global is launching Trump Plaza Jeddah, a USD 1 bn 28k sqm mixed-use development that is the firm’s second Trump-branded development in Saudi Arabia, it said in a press release yesterday.

Dar Global has been busy lately in KSA…: The real estate developer is rolling out USD 4.8 bn in new community projects in Riyadh and Jeddah via a joint development agreement with Dar Al Arkan, lifting its total GDV to USD 12.5 bn. It also snapped up land plots in both cities for USD 390 mn in March and a month earlier secured financing from the National Bank of Oman to develop its 3.5 mn sqm Aida luxury project in Muscat by 2028.

….and also in Dubai: The developer inked an agreement with The Trump Organization last year to develop Trump Tower in Dubai.

STARTUPS-

DLD launches real estate incubator: Dubai Land Department (DLD) has launched an Emirati Real Estate Business Incubator with Dubai Silicon Oasis, the New Economy Academy, and the Rochester Institute of Technology of Dubai, state news agency Wam reports. Starting from 27 October at Dubai Silicon Oasis, the six-month program will support 50 Emirati firms transitioning from individual brokers to licensed real estate agencies. Graduates will receive an accredited certificate and a year of professional mentorship, with training covering regulatory, financial, and tech aspects of running a brokerage.

REMEMBER- DLD has been ramping up its efforts to engage Emiratis in real estate. Its Emirati broker program — which last year saw nine developers agree to channel 10-15% of sales through Emirati brokers — has brought 1.8k nationals into the market since 2024, completing AED 10 bn in agreements.

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