Good morning, lovely people, and welcome to the final day of September. We lead today’s news well with more details on the implementation plan of the UAE’s upcoming e-invoicing system — including key deadlines and requirements for businesses.

We also have a healthy dose of investment, M&A, and debt news, and a report from Standard Chartered that handpicks the UAE as one of six burgeoning global trade markets.

PLUS- With all the speculation around Dubai’s property market lately as investors and analysts alike attempt to make sense of what the ongoing boom in prices means, we speak with two real estate experts about both the risks and positive signs underpinning the market.

The takeaway? While inflated prices mean the market will inevitably top out at some point, there’s a slew of healthy signs — from more interest from institutional investors to a booming regional economy — indicating that there’s plenty of room for a more mature, and less speculative, market to take shape. We have more on this in the news well, below.

WEATHER- Temperatures in Dubai will reach 37°C by day and dip to 29°C at night. Meanwhile, Abu Dhabi will see a daytime high of 38°C and an overnight low of 29°C.

WATCH THIS SPACE-

#1- Abu Dhabi earmarks AED 42 bn for livability strategy: Abu Dhabi is set to get a host of new green spaces, infrastructure, and community facilities following Crown Prince Khaled bin Mohamed bin Zayed’s approval of an AED 42 bn (USD 11.4 bn) expansion of the emirate’s livability strategy, according to the Abu Dhabi Media Office. The program is overseen by the Department of Municipalities and Transport. Some AED 12 bn in projects, including parks, schools, and mosques were launched as part of the initial phase of the initiative, which was launched in 2023.

#2- Dubai-based school operator Gems Education is one of several firms who submitted an initial bid to acquire Saudi Arabia’s Ajialuna Educational, with the transaction expected to close as early as November, Bloomberg reports, citing people familiar with the matter. Ajialuna’s majority owner, Sulaiman Alrajhi Holding, is said to be seeking a full exit.

About Ajialuna: Founded in 2008, Ajialuna runs Al Forsan International Schools in Riyadh, Al Khobar, and most recently Jeddah. Its network offers international curricula from kindergarten to high school, catering to both Saudi families and expatriates and serving over 14k students across the Kingdom.

#3- Global payments platform PayPal Holdings plans to invest USD 100 mn across the Middle East and Africa, according to a press release (pdf). The strategic investment will be spread across minority stakes, acquisitions, PayPal Ventures funding, human resources, technology deployments to help local firms scale, and attracting new customers. It will target “high-growth and underserved markets” across the region, Otto Williams, Senior Vice President, Regional Head and General Manager at PayPal Middle East and Africa told EnterpriseAM UAE.

Fintech, e-commerce, and digital infrastructure are among the priority areas for PayPal, as well as logistics and cybersecurity, given their importance for SMEs and cross-border trade, Williams said. The firm also plans to collaborate with sovereign wealth funds and regional investment vehicles to to help accelerate innovation and scale local startups, he added.

REMEMBER- PayPal opened its first regional hub in Dubai in April, designed to expand the company’s global commerce capabilities and support businesses with cross-border payments and access to wider markets.

#4- Emirates National Oil Company’s (Enoc) subsidiary Dragon Oil has secured the North July oil field concession in Egypt, northeast of the Gulf of Suez, Asharq Business reports, citing a government official. The agreement, expected to be signed before year-end, will run for six years and see Dragon Oil invest at least USD 20 mn, including drilling up to three wells. Production is slated to begin within two years of signing.

REMEMBER- Dragon Oil was reportedly vying for the concession in July, alongside others like Saudi-based Ades Holding and Egypt-based Cheiron Petroleum.

Dragon has the edge: The field is located near the Gulf of Suez Petroleum Company’s production facilities, in which Dragon Oil is a shareholder, a key factor the official says could speed up development and output timelines.

So far in Egypt: Dragon Oil entered Egypt’s upstream scene in 2020 after acquiring BP’s Gulf of Suez assets, replacing it as Egyptian General Petroleum Corporation’s (EGPC) partner. The company agreed to merge its concession agreements in the Gulf of Suez under a unified framework with EGPC back in April, and had previously committed USD 500 mn in investments to the country this year. It inked a USD 40.5 mn agreement with EGPC earlier this month to drill three new wells at the Al Hamd oil field off the Gulf of Suez. Elsewhere, Dragon Oil recently inked multiple agreements with Iraqi oil sector players to expand its footprint in the country.

#5- Abu Dhabi-based waste management firm Tadweer expects to begin production from its waste-to-energy (WtE) project in 2Q 2027, with construction progress currently at 52%, CEO Ali Al Dhaheri told CNBC Arabia (watch, runtime: 2:36). The group is looking to convert 1 mn tons of solid waste into green energy annually, supported by the launch of its subsidiary Tadweer Environmental Solutions by year-end, and two additional companies — Upcycle and Tahweel — in 2026.

Tadweer is also looking to close its acquisition of Masdar’s stake in the Sharjah WtE plant by the end of October. Masdar offloaded its share back in July, leaving Tadweer to join Bee’ah Group as a co-owner and operator of the facility.

Waste sorting in the pipeline: The firm is preparing to kick off work on a new waste-sorting plant at the beginning of next year, and also recently set up Tadweer Collection, or Tajmee’e, to handle waste collection across the emirate.

#6- Air taxis to hit RAK’s skies by 2027: Ras Al Khaimah Transport Authority has inked an MoU with UK-based all-electric vertical takeoff and landing (eVTOL) infrastructure provider Skyports Infrastructure and US-based Joby Aviation to launch the emirate’s first air taxi service by 2027, according to a statement. The project aims to cut the trip between Dubai International Airport and Al Marjan Island, which typically takes 60 minutes by car, to less than 15 minutes.

What we know: Skyports will build a vertiport next to Al Marjan Island’s Wynn Resort and another in Jebel Jais, CEO Duncan Walker told Dubai Eye 103.8 on a podcast (listen, runtime: 37:04).

Skyports is also set to roll out its first fleet of flying taxis in Dubai on 31 March 2026, Walker said on the podcast. Air ticket prices are valued at USD 200-300 per person, with helicopters supplementing the early roll-out stages. Skyports is currently building vertiports at Dubai International Airport, Marina, The Palm, and Dubai Mall — and plans to sell naming rights to the landing stations.

REMEMBER- Joby Aviation and Dubai’s Roads and Transport Authority completed the region’s first Joby air taxi test flight last July. A month prior, Abu Dhabi Investment Office tested its passenger eVTOL aircraft while Archer Aviation also completed the first test flight for its Midnight eVTOL — set to launch soon in the capital. Skyports also inked an agreement in July with Ajman’s Transport Authority to explore smart air mobility solutions, and is looking to extend its services to Abu Dhabi and Sharjah in the future.

#7- The UAE-Australia trade agreement is coming into effect tomorrow, Australia’s Prime Minister Anthony Albanese said in a post on X following a visit to Abu Dhabi, which saw him meet with President Mohamed bin Zayed Al Nahyan. The two countries signed the comprehensive economic partnership agreement in November 2024, with the pact removing most tariffs, expanding market access, and aiming to lift trade from USD 4.23 bn in 2023 to USD 15 bn by 2032.

PSA-

ICP rolls out new visa categories: The Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP) has introduced four new visa categories, state news agency Wam reports. The new visas include:

  • Specialist visas for professionals in the AI, entertainment, events, cruise ships, and leisure boats sectors;
  • A sponsored friend/relative visit visa covering up to the third degree of kinship, subject to sponsor income;
  • A business exploration visa requiring proof of solvency, ownership in a foreign company, or professional practice;
  • A truck driver visa requiring a sponsor, as well as health and financial assurances.

ICP also introduced new residence permits, namely a one-year humanitarian permit — renewable under certain conditions — and a renewable one-year permit for foreign widows and divorcees.

HAPPENING TODAY-

#1- The Abu Dhabi Securities Exchange’s (ADX) Global Investor Roadshow and Conference kicked off yesterday and runs until tomorrow in New York, held in partnership with Morgan Stanley, Wam reports. ADX Chairman Ghannam Almazrouei and CEO Abdulla Alnuaimi are leading a delegation of 15 listed companies — together worth over USD 300 bn — for meetings with global asset managers, hedge funds, and institutional investors.

#2- The Global Rail Transport Infrastructure Exhibition and Conference will run from today until Thursday at the Adnec Center Abu Dhabi. The conference will gather industry leaders, government officials, and operators to discuss rail technologies and network expansion.

#3- The Water, Energy, Technology, and Environment Exhibition (Wetex) is also on from today until Thursday at the Dubai World Trade Center. The exhibition will showcase innovations in clean energy, water, and sustainability, and host panels on the energy transition and climate action.

#4- MENA Investment Congress (MENA Icon) kicks off today and runs until Wednesday at Rosewood Hotel Abu Abu Dhabi. The event will bring together regional and international investors, asset managers, and policymakers to discuss capital markets, portfolio strategies, and regional growth prospects. Speakers include hedge fund manager Ray Dalio, Apex Group’s Chief AI and Data Science Officer Helen Wang, and early stage investor Hamza Khushaim.

#5- The Africa Debate Conference will take place today at the Address Sky View Hotel in Dubai. Policymakers and business leaders will meet to discuss Africa’s role in global trade and investment, with a focus on economic partnerships and future growth.

#5- Dubai Podfest is taking place today at the Ritz Carlton in Dubai. The gathering will bring together creators, media professionals, and industry players to discuss trends in podcasting and digital audio.

HAPPENING THIS WEEK-

#6- The World Green Economy Summit (WGES) is running from tomorrow to Friday this week at the Dubai World Trade Center. Organized by the World Green Economy Organization — in partnership with Dubai’s Electricity and Water Authority and Supreme Council of Energy — the global summit focuses on green economy, sustainability, and climate action. The forum convenes policymakers, business leaders, academics, and civil society to discuss climate solutions and sustainable economic models.

#7- The Zawya GCC Capital Markets Forum will take place on Thursday at the Fairmont in Dubai. The forum will bring together GCC corporates from traditional wealth exporters to growing capital market participants to address how capital markets are evolving, as well as their surrounding macro environment. The forum will feature C-suite speakers from banks and leading financial institutions including HSBC, Standard Chartered Bank, Emirates NBD, and EFG Hermes.

THE BIG STORY ABROAD-

The foreign press is leading with Donald Trump’s announcement that he and Israeli Prime Minister Benjamin Netanyahu have agreed on a US-brokered peace framework for Gaza — a 20-point plan that calls for an immediate ceasefire. Trump warned Hamas that Israel would have Washington’s “full support” to destroy Hamas if it rejects the deal. (Reuters | The Guardian | Bloomberg | Financial Times | Washington Post | BBC | New York Times)

Arab, Islamic FMs back Trump’s Gaza peace plan: Foreign ministers from Egypt, Jordan, the UAE, Indonesia, Pakistan, Turkey, Saudi Arabia, and Qatar issued a joint statement yesterday welcoming US President Donald Trump’s proposal to end the war in Gaza. The ministers said they “assert their confidence in his ability to find a path to peace” and underscored the importance of partnership with Washington in advancing regional stability. The FMs expressed their readiness to work with the US to finalize the agreement and ensure its implementation.

What’s in the plan? The 20-point plan — which secured Israeli backing last night — calls for an immediate ceasefire, a swap of hostages for Palestinian prisoners, a staged Israeli withdrawal, and Hamas’ disarmament. It envisions Gaza run by a technocratic Palestinian committee backed by a “Board of Peace” chaired by Trump. Hamas is yet to respond to the proposal.

ON THE CLIMATE FRONT- Leaders from climate-vulnerable nations used the UN General Assembly to blast rich countries for falling short on funding commitments, Reuters reports. Developing countries’ leaders said the USD 100 bn pledged back in 2009 came too late and that the USD 300 bn target set for 2035 is nowhere near the USD 1 tn they estimate is needed annually by the end of the decade. We suspect climate action will be a frequent guest on the foreign pages in the weeks to come with COP30 less than two weeks away.

AND IN THE COURTS- Charlie Javice, the founder of student-loan fintech Frank, was sentenced to seven years in prison for defrauding JPMorgan in its USD 175 mn acquisition of her company. The 33-year-old entrepreneur was also ordered to pay USD 288 mn in restitution and forfeit another USD 22 mn, though the judge allowed her to remain free on bail pending appeal, citing her medical condition. (Financial Times | The Guardian | CNBC | New York Times | Reuters | Axios | Associated Press)

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