AD Ports sells off more Kezad land

AD Ports Group sold Kezad Logistics Park Freezone 3 to Mair Group for AED 295 mn, extending a run of capital recycling transactions, according to a press release (pdf). The sale will see the Abu Dhabi investment firm snap up four warehouse blocks, while AD Ports retains long-term control of the land under a 50-year Musataha agreement.

The move is an asset reset rather than an exit, continuing the state player’s plan to optimize land assets and liberate liquidity for expansion plans. Since last October, the group has recycled more than AED 4.2 bn through similar plays, including transactions with Mira Developments (AED 2.5 bn), Danube (AED 840 mn), and Aldar (AED 570 mn). Management has consistently framed these sales as a way to monetize non-core assets, strengthen its balance sheet, and redeploy capital.

Adex backs bigger wagers in transition trade

The Abu Dhabi Exports Office (Adex) expanded a revolving credit facility for Swiss-based energy and commodities trader BGN to USD 400 mn, up from USD 282.5 mn, according to a press release. The added headroom comes as BGN eyes growth across LNG, critical minerals, metals, and transition fuels.

The setup: The facility was oversubscribed and syndicated across 15 lenders spanning the Middle East, Africa, and Asia, with First Abu Dhabi Bank acting as sole coordinator and bookrunner.

The UAE is doubling down on unmanned systems

The Defense Ministry inked contracts worth AED 2.4 bn across the first two days of Umex and SimTex, according to a press release. This included purchases of aircraft and drones by Edge, a variety of equipment and vehicles by Habari Defense and Security. This adds to some AED 879.8 mn in contracts signed on day one.

Calidus, Hameem, Aergility partner to build VTOL aircraft locally

Local defense production just got another push: Abu Dhabi-based defense contractor Calidus and technology firm Hameem Technologies are partnering with US aerospace company Aergility to develop and manufacture the Alrasid and Altaresh unmanned VTOL aircraft in the UAE, Wam reports. The aircraft, designed for intelligence, surveillance, and logistics operations, will be produced at Calidus’ facilities in Abu Dhabi.

ICYMI- This follows a busy week for Emirati defense: Calidus also teamed up with US firm General Atomics to locally produce two unmanned aircraft, while Edge and Qatar’s Barzan Holdings set up a JV for advanced defense tech and Tawazun Council signed AED 880 mn in contracts for autonomous air and maritime systems.

OpenCX raises USD 7 mn in funding

UAE’s OpenCX secures USD 7 mn to scale AI-driven customer communications: UAE-based customer communication platform OpenCX raised USD 7 mn in a funding round led by US-based Y Combinator and Saudi Arabia’sX by Unifonic, with participation from Abu Dhabi’s Shorooq Partners, according to a press release. The capital will support the firm’s GCC-focused expansion plans, which include opening an office in Saudi Arabia within the next few months.

OpenCX? Founded in 2022 by Mohammad Gharbat (LinkedIn) and Mohammad Tabaza (LinkedIn), OpenCX uses AI agents to provide automated solutions for customer support operations, serving sectors like fintech and healthcare.

Abu Dhabi is pulling big-ticket capital again

Dubai-based developer Object One has agreed to acquire four waterfront plots on Abu Dhabi’s Reem Island with a total development value of AED 4.5 bn, marking one of the capital’s larger land as of late, according to a press release. Located in the Shams Gate district, the sites span more than 2 mn sq ft of developable area and follow Object One’s recent expansion into Abu Dhabi.

Why it matters: The move highlights Abu Dhabi’s rising appeal to developers long focused on Dubai, as capital tracks population growth and infrastructure spending in the capital. Object One brings a Dubai track record that includes more than 2.6k delivered homes and over 4.5 mn sq ft of projects.

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