NMDC and Aramco tie-up deepens,, more healthcare agreements, an advertising M&A, and awards for Tasreef

NMDC’s offshore hat-trick

NMDC Energy has won three offshore EPC projects from Saudi Aramco, worth a combined USD 763.3 mn (c. SAR 2.86 bn), according to an ADX disclosure (pdf) from the Abu Dhabi-listed contractor. NMDC expects to complete the projects within 18-23 months. The disclosure doesn’t name the offshore fields involved or disclose individual project values.

REMEMBER- Aramco is NMDC Energy’s largest client outside the UAE. About a third of the company’s revenue comes from abroad, mostly from Aramco, CEO Ahmed Al Dhaheri said in July last year. The Saudi oil giant extended its long-term offshore services agreement with NMDC Energy for another three years in April 2025, covering engineering, procurement, fabrication, and installation work in Saudi waters. NMDC also has a fabrication yard at Ras Al Khair, where it began production last year.

M42 puts AI to work in hospitals — and eyes Africa expansion

Abu Dhabi healthtech group M42 is eyeing Africa as its next offshore market while piloting cancer and surgical technologies at home, according to three separate statements carried by state news agency Wam. M42 and German medical technology firm Siemens Healthineers signed a preliminary agreement to explore healthcare projects across the Global South, starting with Africa. The pitch is to pair M42’s digital health systems with Siemens’ imaging and diagnostics technology to catch disease earlier.

ALSO- M42 and US genomics firm Inocras will pilot blood tests that detect cancer recurrence at Cleveland Clinic Abu Dhabi, starting with patients with higher-risk breast cancers. M42 could later run the testing in its own laboratories. And M42’s Healthpoint hospital is working with surgical technology firm Proximie to roll out AI-powered monitoring across its Abu Dhabi operating rooms. The system tracks surgeries in real time and flags likely delays, allowing staff to manage schedules and theater capacity before bottlenecks build.

REMEMBER- Africa would add to M42’s international push. The group has expanded in Central Asia, including partnerships in Uzbekistan spanning renal care and genomics. At home, it’s working to link genetic data with patient records to guide clinical care, as genomics chief David Kavanagh told us in an interview in July.

AstraZeneca wants AI to help find its next patients in Abu Dhabi

AstraZeneca will invest around USD 50 mn over the next few years in clinical trials with Cleveland Clinic Abu Dhabi, AstraZeneca International Executive Vice President Iskra Reic told The National. The drugmaker has completed feasibility work for six studies and expects the first to begin before year-end. As we reported on Friday, the two are exploring up to 30 trials by 2030. The trials focus on cardiovascular, renal, and metabolic diseases. Cardiovascular disease alone accounts for 34% of deaths in the UAE, according to the Health and Prevention Ministry.

AI is also being put to work on high blood pressure: Abu Dhabi will host the first program under AstraZeneca’s new global collaboration with Oracle, run with M42. The partners will use existing health records and AI tools to flag patients whose hypertension isn’t under control so doctors can intervene earlier and to match eligible patients to clinical trials. The wider collaboration also covers earlier diagnosis and drug-safety monitoring.

Abu Dhabi Capital Group makes a play for media and events

Abu Dhabi Capital Group (ADCG) is acquiring a stake in local media and events firm React Holding, according to a LinkedIn statement from the investment group. The acquisition would add React’s events, advertising, production, and creative businesses to ADCG’s portfolio, which spans more than 100 companies across 25 sectors, according to a press release. The size of the stake, transaction value, and completion timeline weren’t disclosed.

What’s React bringing to the table? The Abu Dhabi-based group operates seven specialist businesses, covering everything from event management and outdoor advertising to content production. ADCG plans to use those capabilities across its existing businesses while pursuing new investments and joint ventures in media and events, particularly in Abu Dhabi and Al Ain.

Dubai pours another AED 3 bn into flood protection

Dubai Municipality awarded AED 3 bn in contracts for four projects under the third phase of its Tasreef stormwater drainage program, state news agency Wam reports. The projects will add around 100 km of drainage lines across nearly 100 sq km, connecting residential, commercial, and industrial areas to the emirate’s main network to help prevent flooding and keep roads operational during heavy rainfall.

Where’s the work happening? The largest stretch will add 42 km of drainage lines across Jumeirah and Umm Suqeim, while another 21 km will serve Al Wasl, Za’abeel, Al Satwa, and surrounding areas. A further 14 km will cover corridors between Sheikh Zayed Road and Al Khail Road, including parts of Al Quoz and Al Barsha, with the remaining 23 km planned for Al Marmoom.

REMEMBER- Tasreef was approved in 2024 after record rainfall brought parts of Dubai to a standstill. The AED 30 bn program aims to increase the city’s stormwater drainage capacity eightfold and cut pumping station construction, operating, and maintenance costs by 20%. Dubai awarded AED 1.4 bn in contracts in 2025, followed by another AED 2.5 bn earlier this year. The latest awards bring the value of these three reported contract packages to AED 6.9 bn.