Good morning, friends. There’s plenty of news to keep you occupied this morning, with tidbits from the slew of ongoing summits and conferences across the UAE and several M&A and IPO updates.

The big story: Dubizzle has postponed its IPO a day before bookbuilding was set to begin, as it looks for an “optimal” time to tap markets.

And in M&A news, RAK Hospitality and RAK master developer Marjan have merged into a single entity, creating another state-owned real estate powerhouse. Meanwhile, Mubadala just snapped up a controlling stake in Rio De Janeiro’s expressway operator, and finalized a stake in Hong Kong’s Loscam.

WEATHER- Expect a bit of fog this morning, along with a high of 36°C and a low of 27°C in Dubai. Meanwhile, in Abu Dhabi, temperatures are set to peak at 35°C, with a low of 25°C.

WATCH THIS SPACE-

#1- Al Ghurair family eyes luxury real estate: Dubai’s Al Ghurair family is entering the property development sector through a new firm led by Sultan Al Ghurair, as he looks to put to use a portfolio of thousands of assets, including stagnant land plots, Bloomberg reports. The company is planning three to four projects, starting with an ultra-luxury tower in Business Bay by Japanese architect Kengo Kuma.

Abdulla Al Ghurair, who heads the family and is among the wealthiest b’naires in the UAE, already owns a diversified portfolio of assets, spanning stakes in banks like our friends at Mashreq, to the National Cement Company and food and water companies. His net worth is estimated at USD 10.3 bn, according to the Bloomberg B’naires Index.

Additional projects are in the pipeline, with future developments to be financed through a mix of off-plan sales and bank funding. “[We have a] healthy land bank and ambitions to acquire more as well,” Al Ghurair said, adding that while the first project targets the wealthy, “the bigger demand is always in the middle.”

REMEMBER- Analysts expect Dubai’s property market to cool slightly in 2H 2025: Fitch Ratings projects a correction of up to 15% in home prices after a 70% surge since 2019, JLL data shows. Moody’s and Deloitte similarly anticipate a slowdown or stabilization in price and rent growth, while supply is set to rise sharply, with nearly 250k new homes scheduled for completion in the coming years — a 30% increase as new developers enter the market.

Al Ghurair is not worried, saying he believes the market is “more mature” now compared to past years, which is what prompted them to enter the market now.

#2- Speaking of Emirati b’naires…: Emaar ’s chairman Mohamed Alabbar is eyeing expansion in China and India, he said at the Reuters NEXT Gulf Summit in Abu Dhabi, Reuters reports. The chairman cited India’s good “evolutions of economic development,” and also voiced confidence in China’s long-term recovery despite current housing issues. Emaar was reported to be weighing acquisitions in the US, India, China, and parts of Europe last month.

As for the US, its current housing shortage and overheated market could also offer attractive investment options, Semafor quoted him as saying. Emaar is currently studying market entry through takeovers and JVs, however specifics haven’t been decided yet, he said.

Alabbar dismissed speculation that Emaar could play a role in post-genocide Gaza reconstruction, stating the company had not asked to be involved, and wasn’t interested in any rebuilding efforts, adding that those responsible for the damage should be leading the efforts.

#3- Masdar eyes another USD 20 bn in clean energy investments: Abu Dhabi’s renewable energy firm has deployed USD 30 bn in capital and leverage over the past two years and plans to invest about USD 20 bn more, CEO Mohamed Al Ramahi said during the Reuters NEXT Gulf summit, Reuters reports. The additional funding will support Masdar’s global clean energy expansion drive.

ICYMI- Masdar is more than halfway to its 2030 target of 100 GW in renewables capacity, the firm said in August. Its portfolio expanded 62% last year to 51 GW.

#4- Syria is planning to launch an international investment roadshow in the next few months to attract capital from the Gulf, Europe, and the US as it seeks to rebuild its war-battered economy, Economy Minister Mohammad Nidal Al Shaar said on the sidelines of the Future Resilience Forum in London, Bloomberg reports. The roadshow would come following the easing of US sanctions, which came into effect earlier this year, and ahead of parliamentary formation, which would pave the way for new investor-friendly legislation, he said.

Oil and gas is in focus, with Al Shaar floating the idea of working with GCC investors as Syria looks to rebuild its production lines to fuel industry and manufacturing. Currently, militant action in production fields in the northeast is hampering revival efforts.

REMEMBER- Emirati investors have been among the first to explore a return to Syria. DP World signed an USD 800 mn, 30-year concession with Syria’s General Authority for Land and Sea Ports in July to develop and operate Tartous Port, and Abu Dhabi’s National Investment Corporation inked a USD 2 bn agreement with Syria’s Transportation Ministry to develop a metro system in Damascus. Meanwhile, Al Habtoor Group has also expressed interest in real estate and hospitality ventures in Damascus, and UAE-based cement-focused advisory firm A³&Co inked an agreement with Syria’s state-owned Omran to modernize the country’s cement sector. Saudi Arabia also inked SAR 24 bn in agreements earlier this year, though Al Shaar noted that the country needs significantly more capital to fund its reconstruction.

#5- DFSA clears Magellan after probe into whistleblower claims: Dubai Financial Services Authority (DFSA) closed its investigation into hedge fund startup Magellan Capital, finding no evidence of wrongdoing, Bloomberg reports, citing a statement. The probe followed a months-long review triggered by a former employee’s complaint.

BACKGROUND- The DFSA reportedly searched Magellan’s offices in June after ex-trader Britney Lam, who left the firm last October after just five months, accused senior executive Ahmed Omar of concealing losses and blocking risk escalations. Magellan, which planned to launch with USD 700 mn in proprietary capital backed by a Middle Eastern family office, had denied the allegations at the time, saying it does not manage external client funds.

#6- MoHRE to launch unified jobs platform for Emiratis in private sector: The Human Resources and Emiratization Ministry (MoHRE) will launch the Emirati Work Package for the Private Sector by the end of the year, creating a single digital platform for citizens to apply for private sector jobs and also handle related services like work permits, pensions, and health ins., GulfNews reports. Currently in its pilot phase, the system will connect federal, local, and private entities to streamline hiring and remove the need to interact with multiple authorities.

REMEMBER- The platform supports the UAE’s Zero Bureaucracy initiative to simplify government services and reduce administrative layers. It expands on the existing Work Package for residents and domestic workers, which unifies visa, medical, and ID services into one digital process.

DATA POINTS-

#1- UAE tops Arab world in global investment risk index: The UAE ranked as the top Arab country and 38th globally in Henley & Partners’ 2025 Global Investment Risk and Resilience Index. The index assesses countries’ exposure to, and ability to recover from, geopolitical, economic, and climate risks, according to an accompanying press release. Regionally, Qatar followed in 51st place, with Saudi Arabia in 57th, and Kuwait in 60th.

The breakdown: The UAE had an overall score of 71.34 (pdf). Its risk score was 23.89, placing it in the “very low risk” category thanks to a 0.07 inflation risk score and 0.00 for currency volatility, while its resilience score came in at 66.57, supported by strong fiscal policy, governance, and investment ratings.

#2- Sharjah Airport logged 5.1 mn passengers in 3Q 2025, a 16.7% increase from the previous year, state news agency Wam reports. The total number of scheduled and non-scheduled flights stood at 30.7k, up 10.7% y-o-y. The airport processed 48k tons of cargo, up 3.9%, while sea-air freight jumped 32.8% to 4.3k tons.

#3- Arab trade tops USD 3.6 tn in 2024: Arab merchandise and services trade grew 4.5% y-o-y to more than USD 3.6 tn in 2024, driven by a 7.8% increase in imports to over USD 1.7 tn and a 1.7% rise in exports to USD 1.9 tn, according to Dhaman data picked up by Wam. Merchandise trade alone grew 5% to USD 2.8 tn, while the goods surplus narrowed 43% to USD 167 bn.

The breakdown:Raw materials made up 73% of Arab exports — with fuel accounting for 54% — while manufactured goods comprised 64% of imports. The UAE accounted for 40% of merchandise trade and China remained the region’s top trading partner, accounting for 16% of total Arab merchandise trade.

Inter-Arab trade climbed 16.6% to more than USD 250 bn and accounted for 9% of total Arab trade — with the Gulf, Egypt, and Iraq making up over 88% of the total.

HAPPENING TODAY-

#1-Global Food Week is wrapping up today at the Adnec Center in Abu Dhabi. Experts and industry leaders from the agriculture, food manufacturing, food security, and hospitality sectors will meet for discussions, exhibitions, and networking sessions focusing on showcasing solutions to improve global food security and sustainability. Last year’s event saw AED 6.2 bn worth of agreements signed.

#2- The Healthcare Future Summit is also on its final day at the Dubai World Trade Center. The summit will bring together healthcare professionals, industry leaders, and researchers to discuss the landscape of vaccine development and global disease control. Discussions will cover vaccine formulations, cancer research and therapeutic vaccines, antimicrobial resistance, measles, and the role of AI in vaccine innovation.

#3- The Alternative Investment Summit is on its second and final day at the Jumeirah Emirates Towers in Dubai, gathering asset managers, private equity firms, and institutional investors to discuss developments, market trends, and evolving regulatory frameworks in investment.

#4- The World Investment Conference and Sharjah Investment Forum are on until Friday at the Jawaher Reception and Convention Center in Sharjah, bringing together policymakers, investors, and multilateral institutions for over 60 workshops and conference sessions to discuss investment solutions, with this year focusing on SMEs, AI, and youth entrepreneurship.

#5- S&P Global’s annual Islamic Finance Conference is on today at the DIFC Atrium in Dubai.The conference brings together industry leaders, regulators, and investors to discuss the future of Islamic finance. The event will focus on the global outlook for the sector with sessions exploring growth investments, structural challenges, and the GCC’s changing capital markets.

THE BIG STORY ABROAD-

The US has sanctioned Russia’s two biggest oil companies, Roseneft and Lukoil, in a bid to ramp up pressure on the Kremlin to end the war in Ukraine. The move comes a day after a planned summit between the US and Russia to discuss a potential ceasefire was shelved, and is the first time US President Donald Trump imposes Ukraine-related sanctions on Russia since his second term began. (Reuters | Wall Street Journal | Financial Times | Guardian)

The EU also approved a package of sanctions that includes a ban on Russian liquefied natural gas imports from 2027, a year earlier than planned. (Bloomberg | Reuters)

Market reax: Oil jumped USD 2 on the news, with Brent Crude futures rising to USD 64.

ALSO GETTING ATTENTION- Tesla’s net income in 3Q 2025 fell short of analysts’ expectations, despite a boost in sales that drove revenues higher, as CEO Elon Musk cited tariffs and elevated research costs as challenges. Its shares fell 4% on the news. (Reuters | Guardian | WSJ)

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