MANUFACTURING-

#1- China Southern Glass to build glass plant in Kezad: China Southern Glass (CSG) will set up an AED 300 mn glass manufacturing plant in Khalifa Economic Zones Abu Dhabi (Kezad), AD Ports’ subsidiary Kezad Group said in a press release. The facility will be CSG’s first overseas manufacturing facility and comes as the UAE looks to reduce its reliance on imports and boost its local manufacturing chain.

The capacity: The 95k sqm facility, slated to be operational in late 2026, will be located in the Musaffah area, with an annual production capacity of over 5 mn sqm of coated, laminated, and insulating glass. Production will serve infrastructure and construction projects in local UAE markets, as well as the Gulf area, the US, Africa, and Europe.

#2- EFG doubles manufacturing capacity with second production line: DFM-listed investments company Dubai Investments’ subsidiary Emirates Float Glass (EFG) is doubling its float glass manufacturing capacity by adding a second float line, according to a DFM disclosure (pdf). The firm will simultaneously upgrade its first production line, Dubai Investments Industrial Platform CEO Abdulaziz Al Serkal told CNBC Arabia (watch, runtime: 1:11).

The details: The new line will increase daily capacity to 1.2k tons, up from 600 tons, and introduce ultra-clear, low-iron glass to the region, the statement read. It will be up and running between the end of this year and the start of 2026, with Horn Glass Industries of Germany and a local civil works contractor helping execute the project. The firm is also set to sign an AED 1 bn financing agreement with a local lender for the project, Al Serkal said.

REAL ESTATE-

Dubai-based developer Omniyat is launching Lumena Alta, a 73-story luxury commercial tower on Sheikh Zayed Road with a gross development value of over AED 5 bn, according to a press release. Lumena Alta will house shell-and-core office spaces with terraces and gardens, a five-star lifestyle hotel with a sky pool, and directly connect to the upcoming Dubai Metro Gold Line. The development, located at the intersection of Business Bay and Downtown Dubai, will feature over 720k sq ft of office space and is scheduled for completion in 2030.

REMEMBER- The developer had previously tapped debt markets for AED 400 mn in September, after securing a USD 100 mn private loan from Japan’s Nomura in February to support the development of one of its ultra-luxury projects.

CRYPTO-

#1- BitGo MENA secures Vara broker-dealer license: Digital asset infrastructure firm BitGo MENA has received a broker-dealer license from the Dubai Virtual Assets Regulatory Authority (Vara), allowing it to offer regulated digital asset trading and intermediation services to regional institutional clients, according to a press release. It had secured preliminary approval earlier this year.

#2- Vara cracks down on 19 unlicensed crypto firms: Dubai’s Virtual Assets Regulatory Authority (Vara) fined 19 companies and issued cease-and-desist orders for offering crypto services without authorization, Cointelegraph reports. Penalties ranged from AED 100k-600k, with all entities ordered to immediately stop operations and marketing activities.

REMEMBER-Vara introduced stricter marketing and licensing rules in 2024, requiring prior approval and disclaimers on promotional materials. The regulator conducted a similar sweep last October, when it sanctioned seven unlicensed crypto firms for breaching its rules.

EDUCATION-

Arada awards AED 128 mn contract to build int’l school in Aljada: Sharjah-based developer Arada awarded an AED 128 mn construction contract to Al Rehab Arab Contracting to build the Raffles World Academy in its AED 35 bn Aljada megaproject, according to a press release. Dubai-based education provider Innoventures Educational is also partnering on the project, which marks its first school in Sharjah.

More on the academy: Built over 480k sq ft in Aljada, the K-12 international school is set to open for the academic year starting in 2026. It will offer IB and American curricula, and accommodate up to 2k students.

Full steam ahead on Aljada: Just last month, Arada tapped Dubai-based United Engineering Construction for an AED 2.2 bn contract to build Madar Mall in Aljada, and awarded an AED 604 mn contract to start building the project’s business district in March. The project is set to wrap up in 2030, with 30% of Aljada’s targeted 25k homes now completed, the statement read.

STARTUPS-

EDB launches financing tools for startups and SMEs: Emirates Development Bank (EDB) is rolling out AED 500 mn in financing solutions and support initiatives for startups and MSMEs across the UAE in an initial rollout as part of a national campaign, state news agency Wam reports. Founders will be able to set up business accounts with the lender, secure financing without providing collateral, and access EBD’s network of contacts.

GAMING-

Yolo Group secures UAE vendor licenses: Estonia-based gaming group Yolo Group subsidiaries Hub88 Holdings and Live Online Gaming Services (Live88) received gaming-related vendor licenses from the General Commercial Gaming Regulatory Authority (GCGRA), according to a press release. The approval makes Live88 the UAE’s first licensed live online casino, and allows Yolo to supply B2B iGaming content to the UAE.

REMEMBER- The UAE became the first regulated gaming market in the GCC after issuing its national gaming framework last year. The GCGRA has since rolled out key licenses, including the country’s first lottery license to The Game, vendor approvals for TCSJohnHuxley and Australia’s Aristocrat, and a commercial gaming license for Wynn Resorts, which is set to be the first integrated gaming resort in the MENA region.

PAYMENTS-

Astra Tech rebrands PayBy to botim money: Abu Dhabi’s Astra Tech rebranded its fintech arm PayBy as botim money, consolidating its financial services under a single brand, Khaleej Times reports. The Central Bank of the UAE-licensed platform will continue offering local and international transfers, prepaid cards, lending products, and investment options including National Bonds and gold.

…With an upgrade for business users: Astra Tech also launched botim money for Business, a B2B platform providing merchant payment infrastructure, salary disbursement tools, and Wage Protection System (WPS) services.

ICYMI- The rebrand caps a series of fintech rollouts for botim, which this year added O Gold’s in-app gold trading, partnered with the Commercial Bank of Ethiopia on digital remittances, and became the first fintech certified to issue Jaywan cards under the UAE’s national payment scheme. The platform has also expanded features such as AI verification, SME payroll, National Bonds investments, and send now, pay later remittances.

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