M&A-

ADX-listed private equity firm Investcorp Capital offloaded its US industrial real estate portfolio for USD 360 mn, it said in a filing (pdf) to the exchange. The selling price represents a 40% bump on its initial investment of USD 262 mn in 2021, giving it a 12% internal rate of return (IRR) and a 1.4x multiple on invested capital (MOIC) — well above the projected 8.5% benchmark. The portfolio included six investments spanning six states and 2.3 mn square feet.

ICYMI- Just last month, the firm acquired a diversified portfolio of assets in growth sectors across North America and Europe from its Bahraini parent company Investcorp Group for USD 200 mn.

STARTUPS-

SRTIP partners with AIM Congress to attract scaleups to Sharjah: The Sharjah Research Technology and Innovation Park (SRTIP) has partnered with AIM Congress to attract technology scaleups and promote innovation-driven business activity, according to a press release. SRTIP will offer tailored setup packages and special rates to scaleups introduced through AIM’s global network, alongside access to its innovation ecosystem and events.

For large-scale startups: The partnership also promotes SRTIP’s Sharjah Advanced Industry Accelerator, which supports large-scale startups in sectors including advanced manufacturing, healthcare, mobility, and sustainability. AIM Congress will assist in technology commercialization, provide marketing support, and connect scaleups to its network.

ICYMI-The AIM Congress 2025 took place this week at the Abu Dhabi National Exhibition Center, where talks focused on fostering investment collaboration to drive global economic development.

BANKING-

UAE, Kazakhstan central banks sign MoU on cooperation and expertise sharing: UAE Central Bank Governor Khaled Mohamed Balama has signed a tripartite MoU with Kazakhstan’s National Bank Governor Timur Suleimenov and Regulation and Development of Financial Market Agency Chair Madina Abylkassymova on cooperation and information exchange, according to a statement (pdf).

The details: The agreement will see improved cooperation between the institutions in financial markets regulation, fintech, and cross-border use of central bank digital currencies (CBDCs). They will also exchange expertise on cybersecurity, Islamic finance, and technical collaboration, and aims to deepen bilateral trade and financial sector development.

FINANCIAL SERVICES-

Online trading platform and CFD broker Traze has secured a first category license from the UAE Securities and Commodities Authority (SCA), according to a press release. The license enables Traze to provide brokerage, portfolio management, and financial advisory services to both retail and institutional investors in the Emirates.

BUSINESS-

Ambit expands wealth management to Dubai: India's Ambit’s financial advisory subsidiary Ambit Global Private Client (Ambit GPC) has set up shop in Dubai's International Financial Center (DIFC) through its newly formed entity, Ambit Global Private Client (MENA), according to a press release (pdf).

The details: The new entity was formed following Ambit’s acquisition of Moonrock Investments, a DFSA-regulated wealth firm, in 2024. The acquisition combines Ambit’s wealth management expertise with over USD 9 bn in assets-under-management and Moonrock’s regional network. This new office will provide financial services to investors in both India and the UAE, as demand for investment options in the two markets from both sides increases.

TECH-

Turkish enterprise software firm Bimser opened a regional office in Dubai as part of its push into the Middle East and North Africa, according to a press release. The new office will handle marketing and sales operations, focusing on partner and customer support. The company aims to triple its number of active Gulf partners by the end of 2025, with the UAE as its initial target market.

MOBILITY-

EV distributor Smart Mobility International partnered with Chinese EV manufacturer IM Motors to launch its products in the UAE, according to a press release. IM Motors plans to expand its operations in the GCC region, starting in the Emirates and expanding to Saudi Arabia before later in 2025. The company introduced the IM LS7 electric SUV in the UAE, with more Battery Electric and Range-Extended Electric Vehicle models set to follow later this year.

CONSTRUCTION-

Dubai investment firm Shamal awarded the main works construction contract for its Baccarat Hotel and Residences Dubai project to Arabian Construction Co., according to a press release. The ultra-luxury development, on which construction began in January 2024, will feature a hotel and branded residences in Downtown Dubai. The project is being developed by Dubai-based H&H.

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