MANUFACTURING-

India’s Jindal Saw to invest USD 105 mn in Abu Dhabi subsidiary: Indian steel pipe manufacturer Jindal Saw will invest up to USD 105 mn to open a subsidiary to establish a pipe manufacturing facility in Abu Dhabi, according to CNBC TV. The venture will be 100% owned and a step-down subsidiary, meaning that it is controlled by another subsidiary rather than the parent company directly.

The details: The new facility — slated for completion in three years — will have an annual production capacity of 300k tons and will cater to MENA’s oil and gas sector. The Abu Dhabi unit comes as part of a wider USD 118 mn expansion plan, which will see two JVs set up shop in Saudi Arabia as well.

REAL ESTATE-

ESG’s Royal Development Holding debuts with AED 1.6 bn project: Emirates Stallions Group’s newly-launched development firm Royal Development Holding launched its new operations with an AED 1.6 bn project, according to a press release (pdf). The firm will partner with Emirati developer Saas Properties on a residential, waterfront project on Abu Dhabi’s Al Reem Island.

ICYMI- Emirates Stallions Group, the construction and real estate subsidiary of International Holding Company, launched Royal Development Holding last week to consolidate its real estate development activities under a single platform.

Madar Developments launches AED 200 mn residential project in Majan: Dubai-based Madar Developments has launched Tulip Oasis X Residences, a 127-unit residential development in Majan with a gross development value of AED 200 mn, according to a press release. It is scheduled for completion in 2Q 2026.

This is the tenth project in Madar’s Tulip Oasis portfolio: The developer has previously delivered nine residential properties across Dubai Silicon Oasis, Al Furjan, and Dubailand, with the projects carrying a gross development value of over AED 1 bn.

Deyaar unveils 522-unit downtown residences in Dubai: Dubai real estate developer Deyaar Developments has launched its new twin-tower Downtown Residences project, according to a press release (pdf). The towers, housing 522 residential units and located by Sheikh Zayed Road, Downtown Dubai, and Business Bay, are set to be completed by 4Q 2030.

Real estate player One Group launches UAE arm: Global real estate developer One Group is entering the UAE market with Elevate — a lifestyle-focused brand that will lead the firm’s regional expansion, according to a press release. Elevate has more than USD 1 bn in its development pipeline that will be rolled out over the next 12 months.

Looking ahead: The company’s first development will be a branded beachfront project, with full reveal set for the upcoming weeks. The company is also in advanced talks with global hospitality players to co-develop branded residences.

TownX appoints Knight Frank for Luma Park Views retail leasing: Dubai-based real estate developer TownX appointed global consultancy Knight Frank as the leasing agent for over 20k sq ft of retail space at Luma Park Views in Jumeirah Village Circle, according to a press release. The development includes EV charging stations and dedicated parking.

Also in the pipeline: TownX is developing 11 Hills Park in Dubai Science Park with completion scheduled for 1Q 2027. Last month, it acquired a 400k sq ft plot in Arjan for AED 110 mn to build a residential complex.

INFRASTRUCTURE-

Enoc and DP World sign emergency response agreement: Emirates National Oil Company (Enoc Group) and DP World inked an MoU to improve emergency and fire response capabilities across Dubai’s energy and logistics infrastructure, according to the Dubai Media Office. The agreement covers training, planning, and coordination exercises between the two organizations. The two sides will also develop response plans through regular updates and develop a protocol for bringing in external organizations.

M&A-

Nas Investment Holding finalized upping its stake in Egypt’s EgyFert to 51.5% from 32.4% after acquiring an additional 1.8 mn shares at EGP 102 apiece, according to an EGX disclosure (pdf). The total transaction value came in at EGP 186.8 mn. Nas was initially after a much bigger stake, after the holding company submitted an MTO for up to an additional 57.5% of the fertilizers player, which would have raised its stake in the company to 90%.

ADVISORS- Al Ahly Pharos brokered the transaction, while MHR & Co and White & Case provided counsel.

BUSINESS-

Harrison Street opens ADGM office: US-based alternative real assets manager Harrison Street has opened its first Middle East office at the Abu Dhabi Global Market (ADGM), after receiving a financial services permission from the Financial Services Regulatory Authority (FSRA), according to a statement (pdf). The new base will support capital raising and investment advisory, with a focus on non-traditional real estate and infrastructure assets.

The firm is building regional ties: The move has been in the works since at least March 2024, when Harrison Street appointed Hadi Nasser (LinkedIn) to lead investor relations in the region. The firm, which manages around USD 56 bn in assets, says the ADGM presence will deepen its footprint and serve growing demand for alternative investment options across the Middle East.

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