Good morning, everyone. The UAE is extending its run of securing connectivity infrastructure with news of an Emirates-Iraq-Turkey tie-up spanning continents. We have the low-down on a new USD 300 mn fund coming to the UAE, as well as a story on Mubadala backing one of Egypt’s e-commerce players.

Plus: Fab just closed its third bond issuance this year, real estate and hospitality players have unveiled some big-ticket projects in Dubai and Abu Dhabi, the UAE is partnering with Turkey on rail cargo operations, and a new face will be leading the FTA.

Watch this space

REAL ESTATE — We’re in for a property cycle peak, and soon: The UAE’s real estate market is likely to peak in 1H 2026, with prices and rents in Dubai and Abu Dhabi still climbing — though at a slower pace — as lower rates, steady population growth, and sustained business-friendly reform momentum extend the upcycle, according to Markaz’s latest UAE Real Estate Report (pdf). Its macro index score rose to 4.3, putting the market in “peak, slowdown ahead” territory.

The reasoning: The current phase is supported by strong fundamentals, making it less likely that the market is heading for a sharp correction, but a cooling off of prices in the medium term is expected, Markaz said. Markaz cited 5.0% projected real GDP growth in 2026, inflation holding at around 1.6%, CBUAE rate cuts, and continued demand from high-net-worth buyers.

The backdrop: In 9M 2025, the total value of Dubai real estate transactions rose 28.3% y-o-y to AED 554.1 bn, with off-plan sales making up 75% of that total, according to Markaz. Meanwhile, Abu Dhabi transaction value jumped 75.8% to AED 58 bn, with transaction volume up 42.3%. Dubai rental yields remain globally competitive at around 7.5%, even as rental growth begins to cool.

We’ve flagged this before — Dubai’s growth is set to ease into single digits as new stock lands. Meanwhile, Abu Dhabi could hold firmer, with c.16.6k units in the pipeline this year but only about 6.5k likely to be delivered, limiting near-term supply pressure.

Data point

USD 100 bn+ — this is the total value of outstanding sukuk now listed on Nasdaq Dubai following a record 2025. The exchange saw USD 30.6 bn in new debt listings across 60 issuances last year, accounting for nearly USD 146.1 bn of the USD 150.9 bn in total outstanding debt securities across both DFM and Nasdaq Dubai.

How this stacks up: The exchange has hosted more than USD 245 bn in cumulative bonds and sukuk listings to date, including USD 177 bn in sukuk. Its sukuk book has expanded eightfold since 2013, rising from USD 12.6 bn to over USD 100 bn today.

PSA

Off-plan property EOIs now registered electronically in Abu Dhabi: Starting today, the Abu Dhabi Real Estate Centre is mandating the digital registration of all off-plan expressions of interest (EOIs) through its Madhmoun platform, according to a press release (pdf). Under the new framework, all EOI funds must be secured within government-managed preparatory escrow accounts. The move aims to eliminate traditional intermediary risk by using direct oversight to safeguard capital.

REMINDER- You’ll be driving through tolls for less in Ramadan: Dubai’s road toll operator Salik is lowering its toll charges during Ramadan’s iftar rush as part of the variable pricing strategy it implementedlastyear. Under the new pricing structure, the toll rate schedule from Monday through Saturday is as follows:

  • Peak hours (AED 6): 9am-5pm;
  • Offpeak hours (AED 4): 7am-9am and 5pm-2am;
  • Late night (no charge): 2am-7am.

On Sundays, the peak rate will be capped at AED 4 from 7am until 2am, with zero charges between 2am and 7am.

Happening today

A UAE delegation led by Abu Dhabi Crown Prince Khaled bin Mohamed bin Zayed Al Nahyan is in New Delhi for the India AI Impact Summit, which started yesterday and runs through Friday, 20 February, according to Abu Dhabi Media Office.

On the agenda: Discussions on global frameworks for AI governance, future strategic priorities for the technology, and mechanisms to strengthen public-private cooperation in support of Sustainable Development Goals. The program also features specialist sessions on emerging applications and global technology shifts, alongside an exhibition.

WEATHER- It looks like the brief reprieve from the unseasonably warm weather has ended quicker than it came, with temperatures rising again today to peak at 28°C in Dubai and 29°C in Abu Dhabi, before cooling to 17°C in Dubai and 18°C in the capital.

The big story abroad

It’s an oddly calm morning in the global press, with headlines continuing to follow the tech selloff. Technology stocks are seeing hundreds of bns in losses amid a reality check over exorbitant AI spending and murky earnings visibility, with investors pulling back from equities of Big Tech giants. Microsoft’s market value saw the biggest dip compared to its peers, shedding some 17% YTD. Amazon, Nvidia, and Apple also saw their market value slip over the past month and a half. Meanwhile, more conventional equities — like Samsung and Walmart — have seen growth in their market value over the same period.

For a deeper dive into the market’s responses to AI, check out this morning’s Planet Finance, below.

And in the latest sign that 2026 is just not the greenback’s year: Fund managers are morepessimistic about the USD than at any point in the last ten years, following its 1.3% drop against a basket of other currencies in 2026. Confidence in US assets is waning, and the currency is still vulnerable to further losses, experts at asset management players said.

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