CRYPTO-

Bybit secures MiCAR license, sets up EU headquarters in Vienna: Dubai-based crypto exchange Bybit received a markets in crypto-assets regulation (MiCAR) license from Austria’s Financial Market Authority, according to a press release. The license means it can legally operate as a crypto-asset services provider across the 29 European Economic Area countries.

M&A WATCH-

EgyFert shareholders sell to Nas in partial response to MTO: Shareholders in EgyFert agreed to sell 1.8 mn shares to UAE-based Nas Investment Holding, following a mandatory tender offer to acquire up to 57.5% of the company at EGP 102 per share, according to an EGX bulletin (pdf). The shares tendered represent 33% of the stake Nas was targeting, bringing its total holding in EgyFert to 51.4%, according to our calculations. Nas had sweetened the offer last week, raising its offer from EGP 95 per share. There’s no publicly available information about the minimum acceptance level.

ADVISORS- Nas enlisted Al Ahly Pharos as broker on the transaction, while MHR & Co and White & Case are legal advisors.

REAL ESTATE-

#1- Sky AD is getting a piece of Egypt’s Ras El Hekma: Emirati real estate developer Sky Abu Dhabi (Sky AD) has acquired a 450-feddan plot in Egypt’s ADQ-backed Ras El Hekma project, where it will develop a fully integrated residential and tourism project, the company said in a statement (pdf). The developer is targeting EGP 240 bn (c. USD 4.8 bn) in sales from the project, which comes as the company plans to double investments in Egypt.

REFRESHER- Last July, the real estate developer said that it was in talks with the Madboulygovernment over a 200-600 acres plot of land in the North Coast.

#2- Amlak sells Dubai plots to Emaar for AED 2.9 bn: Amlak Finance’s board approved the sale of its lands in Dubai’s Ras Al Khor to Emaar Developments, according to a DFM disclosure (pdf). This follows a general assembly resolution in March approving the sale and authorizing the board to conclude it. The sale transaction is valued at AED 2.9 bn and expected to close by 31 July 2025.

The moves comes as part of a wider repayment agreement as the firm looks to shore up greater financial flexibility and meet a commitment to settle its outstanding debts of AED 1.4 bn by October 2026. As of last December it had reduced its liabilities by AED 800 mn and also floated the idea of exiting the real estate financing sector to strengthen its balance sheet.

#3- Egypt’s Madinet Masr expands to UAE: Egyptian real estate developer Madinet Masr is setting up a subsidiary in Dubai — called Cities of the World — to manage all its projects outside of Egypt, according to a press release (pdf). The move is “a key part of Madinet Masr’s strategic expansion plan, which aims to strengthen the company’s regional and international presence and unlock new [prospects] across a range of real estate development sectors,” according to the statement. The UAE-based company will serve as the company’s international holding company, which will have under its wings dedicated entities to each target market, a company representative told EnterpriseAM.

We had an idea this was coming: CEO Abdallah Sallam mentioned in March that the developer was in talks with potential partners in the UAE and Saudi Arabia for its planned GCC expansion. The developer’s Senior Vice President of Product Development Mohamed Lashien (LinkedIn) will serve as managing director of the newly-established subsidiary following its official launch.

AVIATION-

DAE to lease 2 aircraft to Royal Air Maroc: Dubai Aerospace Enterprise (DAE) signed an agreement with Morocco’s state-owned airline, Royal Air Maroc, to lease two Boeing 737-8 MAX aircraft, Asharq Business reports. DAE delivered the first aircraft on Friday, with the second to follow soon. This marks Royal Air Maroc’s first aircraft lease agreement with a Gulf lessor, however the transaction value wasn’t disclosed.

This comes as part of a wider fleet shuffle from DAE, having offloaded 75 air carriers to Azzora and another undisclosed party last week, as well as acquiring 17 aircraft in March and selling 7 in January.

MANUFACTURING-

#1- EGA to almost double solar aluminum supply to Hyundai Mobis: Emirates GlobalAluminium inked an expanded supply agreement with auto parts maker Hyundai Mobis to increase deliveries of its CelestiAL aluminium from the 8k tonnes provided this year to up to 15k annually by 2026, the company said in a press release. CelestialAL is aluminum produced using solar power.

And more: Both sides also plan to explore a post-2026 framework covering value-added products like billets, primary foundry alloys, and recycled aluminum. They will also co-develop new alloys tailored to automotive use.

#2- Dubai-headquartered Gold Metal DMCC opened a specialized facility at Dubai Investment Park 2, establishing the UAE’s first integrated operation for refining, recovering, and recycling precious metals, Al Bayan reports. The center’s main services include refining, secure storage, precious metals trading, and certified laboratory analysis. The facility uses Italian-manufactured equipment and houses internationally certified laboratories.

DISPUTES-

Shuaa files AED 260 mn claim against former executives: Dubai-based investment platform Shuaa Capital initiated legal action against members of its former management team, seeking AED 260 mn in damages over alleged misconduct that the firm says contributed to its financial losses, according to a disclosure (pdf).

The lawsuit follows disclosures in August 2024 and last February, where Shuaa flagged its intent to pursue legal proceedings to recover losses and protect shareholder interest after it dodged an AED 22 mn payout in a lawsuit filed by one of the same former executives. Shuaa said it will inform the market and shareholders of any material updates.

ENERGY-

The Abu Dhabi Department of Energy (DoE) has launched phase two of its Demand Response Pilot Project, in partnership with Energy Pool and consultant Guidehouse, state news agency Wam reports. The project allows major industrial and commercial users to manage electricity demand during peak hours using advanced digital tools and improve grid flexibility.

What’s new in phase two? A year-long pilot phase will see 30 industry and commercial players pool 250 MW of flexible demand capacity and assess their load-shedding capabilities using smart monitoring tools. The move builds on a successful pilot in 2024, where 12 major industrial and commercial players reduced peak demand by an average of 106 MW across 10 events — with a maximum cut of 210 MW, demonstrating the viability of demand-side flexibility as a scalable energy resource in Abu Dhabi.

STARTUPS-

Sheraa + Continuous Ventures partner for startup funding: Sharjah Entrepreneurship Center (Sheraa) signed an MoU with US-based venture capital firm Continuous Ventures Capital to expand funding access for Emirati early-stage startups, according to a LinkedIn post. The agreement, focusing on pre-seed and seed stage firms, was signed on the sidelines of an investor conference attended by backers with a total capital pool of USD 671 mn, including Global Ventures, Oraseya Capital, Wamda Capital, Beco Capital, and Shorooq Partners, Sharjah24 reports.

BUSINESS-

Dubai Chamber opens Thailand office: Dubai International Chamber has opened an office in Bangkok, its 36th internationally, according to a Dubai Media Office statement. The office will work to attract Thai businesses to Dubai while assisting Dubai-based companies entering the Thai market.

By the sector: The chamber cited rental services, renewables, freight and medical tourism as promising Thai sectors for Emirati companies, while Emirati exports of fertilizer, metals, and livestock feed sectors could have potential in the Thai market.

TRADE-

The UAE-Serbia comprehensive economic partnership agreement (CEPA) has entered into force, adding to the 27 existing agreements, Wam reports. The pact eliminates or reduces customs duties on over 96% of tariff lines, and is expected to contribute USD 351 mn to UAE GDP by 2031. Priority sectors for collaboration include renewable energy, agriculture, logistics, and technology.

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