REAL ESTATE-

Emaar Properties’ Egyptian arm Emaar Misr is preparing to launch yet another big ticket development, this time with Saudi Arabia’s Dallah Albaraka under a strategic partnership, according to a disclosure (pdf) from the EGX30-listed company. The project with Dallah Albaraka’s Samla and Alam Al Roum for Urban Development will require EGP 78 bn — equivalent to around USD 1.7 bn — in investments and is expected to bring in returns totalling EGP 117 bn.

The 380-feddan project will be in New Cairo’s Kayameya district. Details are still few and far between, but they say the development will feature residential, administrative, and commercial components.

This isn’t even Emaar Misr’s biggest development in the works, with the developer working on a EGP 900 bn integrated tourism complex alongside Saudi-owned Citystars Properties called Marassi Red Sea. Earlier in the year, Emaar also partnered with Midar for Investment and Urban Development to launch New Mivida in New Cairo, an EGP 100 bn residential project that includes nearly 2.9k homes, a school, and a sports club.

DATA POINT- Emaar’s investment in Egypt now totals EGP 1.9 tn, while its land bank currently stretches some 34.6 mn square metres. The company is now in the process of doubling these figures over the coming years, according to Alabbar.

MANUFACTURING-

Ajmal Steel is working on a second factory expansion: UAE-based tube and pipe manufacturer Ajmal Steel is set to complete the second phase of its factory expansion by next February, the firm’s oil and gas department head Abdullah Al Shammari told Al Khaleej. The AED 400 mn 100k sqm expansion will increase capacity to over 1 mn tons of steel products, up from its current 750k ton capacity. The expansion will add a new API mill, as it looks to boost line pipe production for oil field operations, according to a post on LinkedIn.

BACKGROUND- Currently, the firm has two manufacturing facilities in Abu Dhabi, with production going to sectors like oil and gas, water, agriculture, infrastructure, and piling. It exports 60% of production to the US, and also caters to European and GCC markets, Al Shammari said.

TELECOMS-

Space42 makes Thuraya 4 satellite globally available: ADX-listed space tech firm Space42 rolled out its mobile communications satellite, Thuraya 4, making it commercially available in South Africa, Botswana, Namibia, Mozambique, and Zambia, according to a press release. Connection to the satellite is now available in over 100 countries.

Satellite details: Thuraya 4 is designed for use in sectors like maritime shipping, aviation, and offshore energy — providing reliable connection and data transfers for mission-critical scenarios in hard-to-reach and remote locations. The satellite can connect with terrestrial networks, smartphones, and IoT devices.

MOBILITY-

7X + Zelostech launch autonomous logistics vehicles JV: Dubai-based, logistics-focused investment firm 7X has launched AutoLogix Smarttech — a joint venture (JV) with Singapore-based autonomous vehicle specialist Zelostech, according to a press release. The JV aims to create an integrated logistics ecosystem leveraging Level 4 autonomous vehicles to transport goods between logistics hubs.

Phase one will see AutoLogix deploy driverless Level 4 vehicles to support the delivery operations of 7X’s logistics arm EMX. Expansion plans will target the GCC and wider Middle East region, with offerings including last-mile delivery, mobile smart locker networks, and air freight integration.

DEBT-

Ajman Bank to finance part of EDC’s stake in Mwasalat: Ajman Bank inked an MoU with Multiply Group’s subsidiary Emirates Driving Co. (EDC) to finance part of its acquisition of a 22.5% stake in Mwasalat Holdings, according to a press release. It will also provide liquidity and risk management, and retail banking options.

ICYMI- The acquisition was completed last month, and included an option for EDC to increase its shareholding value to 50.6%. The transaction, still pending regulatory approval and conditions, comes as EDC looks to expand its public transport services, having acquired 51% in Excellence Premier Investment last year.

HEALTHCARE-

M42 launches 10XReviv, combining AI + genetics for personalized health solutions: Mubadala-backed healthtech firm M42 partnered with US-based 10X Health and UK-based Reviv Global to launch 10XReviv, a precision health venture targeting the MENA region, state news agency Wam reports.

More on the platform: The collaboration will see the rollout of a precision nutrition system which uses genetic insights and blood biomarkers to give a digital health report and recommend personalized micronutrient supplements. The system can analyze up to 20 mn genetic variations with a 99.97% accuracy rate. The two will also set up a clinic to conduct trials examining the impact of IV nutrition on type 2 diabetes.

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