Finreon opens DIFC office, Etihad expands China routes, Sobha enters Abu Dhabi with AED 40 bn plan, and more Tasreef work completed

Quant’s money heads to the DIFC

Swiss asset manager Finreon opened a licensed representative office in the Dubai International Financial Center (DIFC), according to a press release. The move marks the firm’s entry into the Middle East as it targets the region’s growing institutional capital base across equities, fixed income, and alternatives. Finreon manages around USD 7 bn in assets.

ICYMI- DIFC is getting a policy tailwind: As we’ve previously reported, regulators are rolling out support measures for DIFC firms amid a wider wave of government interventions during the conflict. ICICI Prudential Asset Management, one of India’s largest asset managers, has also recently launched in DIFC, underscoring how global asset managers continue to anchor themselves in the hub, even as analysts told us that shaken investor confidence may take time to fully recover.

Dubai completes AED 250 mn Al Quoz sewage upgrade

Dubai has completed the first phase of a AED 500 mn sewage and stormwater infrastructure upgrade in Al Quoz Creative Zone, according to Dubai Media Office. The first phase included installing 15 km of sewerage pipelines and 14k km of stormwater drainage. The project will cover 1.6k hectares across Al Quoz Industrial areas.

ICYMI- Dubai has been working to improve its drainage system after the April 2024 floods exposed flaws in its infrastructure. The Tasreef program is the main pillar of the plan, with Dubai awarding AED 2.5 bn in contracts earlier this year for infrastructure developments on key roads. The USD 22 bn sewage tunnel project will cover 70 km of main tunnels and 140 km of supporting infrastructure.

Etihad deepens China expansion with five new routes

Etihad Airways is adding five new mainland China routes and 28 weekly flights, according to a press release. The new routes — Shanghai, Guangzhou, Chengdu, Hangzhou, and Shenzhen — will all run on Boeing 787-9 aircraft, alongside the airline’s existing daily Beijing service.

Momentum has been building over the past year: China Eastern Airlines launched four weekly direct flights between Abu Dhabi and Shanghai last year, the first time a Chinese carrier operated a direct route to the UAE capital. Etihad isn’t the only one eyeing the growing UAE-China corridor, with Emirates recently kicking off flights to Shenzhen as part of plans to increase its air traffic to China by 40% on the back of rising demand.

Dubai’s Sobha looks to Abu Dhabi

Dubai-based developer Sobha Realty is stepping into Abu Dhabi in a big way, lining up an AED 40 bn master-planned community, according to a press release. The waterfront Sobha City development in Al Bahia marks its first development beyond Dubai and Umm Al Quwain.

The details: Around 4k apartments and 3k villas will be built over the 38 mn sq ft development, alongside schools, healthcare and retail facilities, lifestyle amenities, and green spaces. Phase 1, covering roughly a third of units, is slated for handover in 4Q 2029.

ICYMI- Some Dubai developers have seen recent cracks in their credit stacks, and despite an issuance seeing its spread widen, Sobha has affirmed its liquidity position and strong backlog. Last year, the developer’s parent firm clocked AED 4 bn in net income, while Sobha itself had a AED 27 bn backlog at the end of 1H 2025.