FINANCE-

Bentley Reid expands into Dubai with DIFC office: UK wealth management firm Bentley Reid is setting up shop in Dubai International Financial Center (DIFC) after securing a Category 4 regulatory license from Dubai Financial Services Authority (DFSA), according to a press release. Its CEO Peter Clark (LinkedIn) will lead regional expansion efforts from the new office. The firm, with USD 1.5 bn in assets under management, has deployed three of its staff to the emirate so far, the Financial Times reports.

IN CONTEXT- The UK is currently experiencing an exodus of high-net-worth individuals amid prolonged economic stagnation and steep hikes on capital gains and inheritance taxes — with the UAE’s favorable tax environment drawing many of them in. This, coupled with legislative uncertainty, is pushing many of Bentley Reid’s clients to eye a move to Dubai, Clark told FT.

ICYMI- During 1H 2025, the number of wealth and asset management firms joining DIFC surged 19% y-o-y to 440.

ENERGY-

Snoc finds more gas reserves in Hadiba: Sharjah National Oil Corporation (Snoc) has confirmed a second successful well at the Hadiba Gas Field after drilling to 13.2k ft and completing flow testing, state news agency Wam reports. The Hadiba-02 well lies north of Al Sajaa field and will be integrated into production in the coming months — with drilling works also set to continue to determine the well’s reserves and capacity.

REMEMBER- New gas reserves were discovered at Al Hadiba field in May 2024. The Hadiba-01 well is Sharjah’s fifth onshore field and serves the emirate’s domestic gas supply.

REAL ESTATE-

Dubai-based developer Sankari Properties has started construction on its luxury residential project, Regent Residences Dubai — Sankari Place, in Dubai’s Marasi Marina, according to a press release. Construction is expected to wrap up within 34 months on the project, which is the Regent brand’s first-ever residential project for UK-based IHG Hotels and Resorts. The developer tapped Al Basti & Muktha as the main contractor under an almost AED 1 bn contract, while Dutch Foundations carried out groundworks for the project.

AI-

#1- Dubai Holding + Palantir launch JV to scale AI across the UAE: Dubai Holding and US-based software firm Palantir Technologies launched a joint venture (JV), Aither, to integrate AI adoption across key industries in the Emirates, according to Dubai Media Office. The JV will provide enterprise-grade AI solutions for both government and private-sector institutions working in the commercial sector.

BACKGROUND- Dubai Holding has already used Palantir’s AI platforms in portfolio companies like Meraas, Jumeirah, and Nakheel for the past year and a half.

#2- Emirati telco operator e& and Amazon Web Services have launched the UAE Sovereign Launchpad for the adoption of AI and cloud solutions, according to a press release. The cloud platform primarily targets UAE government entities, as well as specific customers in other sectors, and offers security, compliance, and data management solutions. It provides a secure, national digital infrastructure to safeguard critical data — though it will not deploy workloads classified as secret and top secret.

M&A WATCH-

Fork & Good acquires UAE’s Orbillion to expand meat production in the Emirates: US-based Fork & Good has acquired Hub71-backed Orbillion — a B2B firm focusing on commercializing low-cost red meat — in a move that merges the two firms, according to a press release (pdf). The new company has established a subsidiary in ADGM and will use the UAE as a base for its manufacturing and regional operations, with Fork & Good’s US facility continuing to operate as well. It aims to boost food manufacturing and production supply chains, with a focus on diversifying sources.

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