Another payment in for Dana Gas in Egypt

Sharjah’s Dana Gas has received a USD 50 mn (c. AED 184 mn) payment from Egypt, easing overdue receivables and supporting its upstream program, the company said in an ADX disclosure (pdf).

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In context: The payment supports Dana’s USD 100 mn, two-year drilling program targeting 80 bcf in added reserves — a campaign that had been held up by unpaid dues before a December 2024 consolidation agreement revised fiscal terms and helped restart payments. Operations picked back up after Egypt repaid a portion of the arrears in February 2025.

**REMEMBER- Four out of 11 wells have been drilled so far, with the fifth expected this week. Catch up on our previous coverage here.

Drake and Scull taps Egypt’s water push

Dubai-listed Drake and Scull International has landed a EUR 17 mn (c. AED 73 mn) sub-contract in Egypt via its German unit Passavant Energy & Environment, deepening its exposure to the country’s water and environmental infrastructure buildout, according to a DFM disclosure (pdf). It marks Passavant’s first contract this year, following major wastewater and water-treatment contracts in Jordan and India in 2025.

What’s in scope: Passavant will deliver the design, engineering, installation, and commissioning of electromechanical systems and piping at the Tanta wastewater treatment plant under a 27-month construction phase, followed by two years of operations. The rebuild lifts capacity to 100k cbm/d.

GFH channels Asia capital into UAE logistics

Investors are gaining another route into one of the UAE’s tightest real estate segments. Hong Kong-based investment management firm Gaw Capital Partners and GFH Partners — the Dubai-based asset management arm of Bahrain’s GFH Financial Group — have formed a JV to build a UAE-focused industrial and logistics development platform, targeting already-chosen assets across Dubai, Abu Dhabi, and Ras Al Khaimah, according to a statement.

How it’s set up: Gaw Capital will hold a majority stake, with development led by Manrre Developments — a JV between GFH and Dubai developer Palmon Group — and focused on infrastructure-ready sites to speed up delivery and reduce execution risk as rents and occupancy remain elevated. The platform aims to tap into Asian capital and investor appetite for Emirati projects.

A new route into UK industrial

More pathways into UK industrial real estate are also opening up. Dubai-based, DFSA-regulated advisory firm Arzan Wealth has launched a UK industrial portfolio, targeting an average yield of 8% as it expands into one of Europe’s most defensive property segments, according to a press release.

What’s in the box: The portfolio is seeded with assets focusing on light industrial and multi-let properties in Cardiff and the UK Midlands’ “Golden Triangle,” known for its key logistics links with access to the rest of the country. Arzan plans to scale the platform to around GBP 200 mn as it executes its acquisition pipeline.

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