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Another investment W for UAE proptech
UAE proptech Takeem secures investment to scale rental assurance platform: Dubai-based Proptech startup Takeem secured an investment from Reach Middle East, the regional arm of US-based Secondary Century Ventures, according to a press release. The investment aims to support the firm as it expands its offering of proprietary risk intelligence and rental assurance model beyond institutional clients to the broader B2C market. The value of the investment remains undisclosed.
More on Takeem: Takeem aims to address structural inefficiencies in the real estate market, including liquidity issues and limited transparency. So far, Takeem has onboarded 55k residential units with a yearly rental value of over AED 5 bn.
The investment adds further momentum to the UAE’s proptech sector, after Dubai-based real estate investment platform Stake secured USD 31 mn in a Series B funding round earlier this week. Last year, UAE-based Prypco closed a pre-Series A funding round, and Egypt’s Nawy acquired a majority stake in the UAE’s fractional property investment firm SmartCrowd. More widely, the Dubai Land Department has recently kicked off the second phase of its real estate tokenization project.
DP World keeps the reins as APM takes 37.5% at Jeddah terminal
Logistics giant DP World will retain a 62.5% majority stake in South Container Terminal (SCT) at Jeddah Islamic Port, after Danish shipping heavyweight Maersk — through its terminal arm APM Terminals — agreed to acquire a 37.5% minority stake.
Trading control for security: The move cements SCT against regional competition. By bringing Maersk — one of the world’s most aggressive end-to-end logistics players — into the fold, they lock in Maersk’s massive volumes for the long term, preventing a potential pivot to competitor facilities like the Red Sea Gateway Terminal.
DP World already has a deep footprint in SCT: DP World secured a 30-year build-operate-transferconcession for the terminal from Mawani back in 2019. The logistics heavyweight earmarked a USD 500 mn investment figure under the initial agreement to improve and revamp the port, including expanding its infrastructure to better handle ultra-large container carriers.
