CRYPTO-

Nisus Finance, Toyow ink MoU to tokenize USD 500 mn in real estate assets: India-headquartered real estate investment firm Nisus Finance (NiFCO) entered an agreement with Dubai-based digital asset marketplace platform Toyow to tokenize real estate funds and assets worth up to USD 500 mn, according to a press release. Through Toyow’s marketplace, Nisus Finance will hold a Security Token Offering (STO) of its real estate assets, with Toyow providing technical support, blockchain integration and smart contract development.

Hopping on the tokenization train: Nisus launched a GCC-focused real estate fund in February. The latest agreement comes amid growing tokenization momentum in the real estate sector, with the Dubai Land Department recently launching its tokenization project, and MAG planning to tokenize USD 3 bn in real estate assets.

INVESTMENT-

AFESD to invest in Shorooq’s SME fund: The Arab Fund for Economic and Social Development (AFESD)’s SME financing arm, Badir Fund, is investing in Nahda Fund II, a venture debt fund managed by Abu Dhabi-based venture capital firm Shorooq Partners, according to a press release. The investment value wasn’t disclosed, but aims to improve credit for tech firms.

About Nahda II: Shorooq Partners’s fund aims to deploy some USD 100 mn in early-stage high growth startups in the UAE and the Saudi markets. It focuses on tech firms with fast growth potential and top-line profitability, ones that demonstrate an ability to pay back the venture debt.

DEBT-

DAE secures USD 300 mn loan from Bank of China: Dubai Aerospace Enterprise (DAE) has secured a USD 300 mn three-year unsecured term loan from the Bank of China, according to a DAE statement. The loan will go towards general corporate purposes and assist future financing requirements through additional liquidity.

ICYMI- DAE has been shuffling its fleet, recently offloading 75 aircraft, while purchasing 17 for USD 1 bn. Last month, it committed to acquiring a further 100 aircraft from the likes of Airbus, Boeing, and ATR, and it also agreed to lease Morocco’s state-owned airline two aircraft earlier this week.

DISPUTES-

Abu Dhabi wraps up Wahat real estate dispute with AED 1 bn in settlements: The Abu Dhabi Judicial Department finalized the resolution of all disputes tied to the Wahat Al Zaweya and Wahat Yas projects, disbursing nearly AED 1 bn in financial entitlements, according to a statements (here and here).

BACKGROUND- The Judicial Department in Abu Dhabi ordered real estate developer Wahat Al Zaweya to refund AED 702 mn in deposits to investors in the Wahat Al Zaweya project, as part of the first phase of a settlement lawsuit after the project stalled. Wahat Al Zaweya intended to resume the development of the halted project, however in April Arabian Hills Estate said it was replacing the stalled project. It will also reschedule a debt payment of AED 360 mn with an unnamed bank, Wam reports.

PAYMENTS-

Standard Chartered rolls out beneficiary validation in UAE: Standard Chartered has launched a new beneficiary validation service for UAE-based accounts, developed in partnership with the Central Bank of the UAE, according to a press release. The tool lets corporate clients verify payee details before initiating domestic payments, reducing fraud risks and transaction failures.

FINANCIAL SERVICES-

DFM-listed Al Ansari Financial Services has launched a business solutions hub in India, according to a press release. Located in Hyderabad, the office will focus on optimizing processes, and cost effectiveness, as well as improving tech capacity for the group’s operations. The new center includes an IT Excellence center and business process outsourcing services are expected to be rolled out in the future. The goal is to allocate more resources to core business initiatives and strategic initiatives, the statement read.

BUSINESS-

PCFC, Presight, Ghana ink digital infrastructure MoU: Dubai’s Ports, Customs and Freezone Corporation (PCFC), Ghana’s Communication Digital Technology and Innovations Ministry, and G42-backed data analytics firm Presight AI signed an MoU to form a Ghana-UAE innovation and technology hub in Accra, according to a statement from the Ghanaian ministry.

The details: The zone will be established in a 25-sq-km area with PCFC leading the development and operation of the zone, as well as take charge of the digital infrastructure according to a press release. The entities will also jointly work on property development, and industrial and technological infrastructure for the development which aims to attract tech-focused firms and investment to support Ghana’s digital transformation.

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