M&A-

Investcorp Capital acquires USD 400 mn US industrial real estate portfolio: Abu Dhabi-based Investcorp Capital has bought a 2.6 mn sq ft portfolio of industrial assets across seven coastal areas in the US for roughly USD 400 mn, according to a press release (pdf). The portfolio — 97% occupied — includes 35 properties with exposure to logistics and infill industrial space.

Behind the move: The acquisition, arranged by Investcorp, expands the firm’s diversified alternative assets portfolio, with strong US industrial demand, tight supply, and rising rents cited as reasons for the move, the statement says.

IN CONTEXT- It’s been a busy year for Investcorp globally: Last month it acquired US industrial services firm Kanawha Scales & Systems (KSS) as part of its push to deepen exposure to private markets. Other US moves this year include exits from Resa Power in April and the USD 360 mn sale of a US industrial portfolio. Elsewhere, Investcorp Capital made a full exit from India’s Citykart, while new deployments have included Italian payments company Epipoli and a USD 200 mn portfolio of European and North American assets.

#2- NRTC Group fully acquires Ripe Organic: Ghitha subsidiary NRTC Food Holding has fully acquired UAE-based homegrown brand Ripe Organic, according to a press release. While the value of the acquisition wasn’t disclosed, NRTC is projecting 40% revenue growth during its first full year post-integration. Ripe Organic will keep its brand identity after the takeover and will be integrated into NRTC’s network in phases, with the firm also set to upgrade Ripe Organic’s e-commerce platform.

The rationale: The acquisition gives NRTC better access to the organic and clean-label food segment through Ripe Organic’s product portfolio, trademark, digital assets, and e-commerce operations. It also strengthens its retail, B2C, and e-commerce supply chain links. NRTC also acquired an Egyptian private agri-complex over the summer.

#3- DreamFolks acquires 60% stake in Dubai-based Easy to Travel: India-based airport aggregator platform DreamFolks acquired a 60% stake in Dubai-based airport services firm Easy to Travel (ETT) for nearly USD 4 mn, according to a press release (pdf). The acquisition comes as DreamFolks looks to roll out new services and increase client diversification, after it halted its India-based services in September after airports began to offer direct access to lounge services, Reuters reported at the time. ETT operates in over 120 countries and 500 airports.

ENERGY-

BPGIC taps PEG for Fujairah’s gasoline refinery: Nasdaq-listed Brooge Petroleum and Gas Investment Company (BPGIC) — the newly-acquired subsidiary of GulfNav — has tapped PEG Engineering & Contracting to carry out the front-end engineering design for what it says will be Fujairah’s first refinery dedicated to producing high-quality gasoline, state news agency Wam reports. The facility will be designed to convert naphtha into Euro5 gasoline, with an initial phase targeting output of some 15k bbl / d.

REMEMBER- BPGIC tapped Honeywell at Adipec to provide the process design for the facility, which is expected to incorporate modern refining and processing technologies.

BACKGROUND- GulfNav finalized its long-delayed AED 3.2 bn acquisition of Brooge Energy’s assets — the parent company of BPGIC — last week, giving the DFM-listed shipowner full control of Brooge’s storage and blending facilities in Fujairah. GulfNav also closed an AED 613 mn senior secured three-year sukuk to refinance BPGIC’s USD 144 mn in outstanding bonds as well as bankroll a fresh expansion of storage capacity at the Port of Fujairah.

SMEs-

Dubai SME + Google launch co-funded initiative to support SMEs’ global scaling: The Mohammed Bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME) is launching a joint initiative with Google to provide financial support to Emirati-owned SMEs, according to Wam. The program aims to address common challenges like funding gaps and limited access to marketing resources.

How it works: The pilot program, set to begin later this year, will serve as a test run, providing 10 SMEs with advanced marketing tools, advertising credits, expert mentorship, as well as access to Google’s advanced advertising platforms. The initiative plans to scale up to target more SMEs later on. Dubai SME, Google, and the firm itself will contribute equal investment tickets.

LOGISTICS-

#1- Aramex taps Lodd for VTOL cargo aircraft: Logistics provider Aramex inked an MoU with local advanced air mobility leader Lodd Autonomous to explore the inclusion of its next-generation hybrid vertical take-off and landing (VTOL) cargo plane — named Hili — into Aramex’s regional delivery network, according to a statement. The pair will test the integration of Hili over two pilot phases — the first involves delivering parcels from Aramex’s Musaffah facility in Abu Dhabi to two temporary drone delivery points, while the second expands to include three additional areas using a longer-range drone platform.

About Hili: The VTOL has a payload capacity of up to 250 kg and a range of up to 700 km — engineered to withstand varied terrains and tight delivery schedules.

#2- DHL expands MEA footprint with innovation center + Dubai South warehouse: DHL Supply Chain is building a new EUR 120 mn Dubai South warehouse near the upcoming Al Maktoum International Airport under a 38-year term agreement, according to a press release. The 55k sqm warehouse will be multi-user and serve a range of sectors. Construction is set for 1Q 2026, with completion slated for summer 2027, and the agreement includes additional office space.

ALSO- The group opened its expanded Middle East and Africa (MEA) Innovation Center in Dubai. The 1.7k sqm center is one of four worldwide and will serve as a hub for meetings and workshops for startups, clients, and partners working on emerging technologies and logistics solutions.

IN CONTEXT-The new developments are part of DHL’s broader regional growth efforts, with plans to invest over EUR 500 mn in the Middle East between 2024 and 2030.

#3- 7X, Mbank partner on AE Coin payments: State-owned logistics-focused conglomerate 7X partnered with Al Maryah Community Bank (Mbank) to integrate payments via AE Coin, the UAE’s first AED-pegged stablecoin, for 7X’s services, Khaleej Times reports. Clients will be able to use the stablecoin to pay for 7X’s delivery services, and logistics, e-commerce, and digital solutions by using Mbank’s digital wallet, AEC Wallet.

ICYMI- Other Emirati players accepting the Central Bank-regulated stablecoin, which secured approval in 2024, include Air Arabia, the Abu Dhabi Judicial Department, and Abu Dhabi’s Tawasul Taxis.

FINANCE-

EIB joins Finance Ministry’s retail sukuk program: Emirates Islamic Bank (EID) became the third lender to join the Finance Ministry’s retail sukuk initiative, according to a press release. Customers will be able to invest in Treasury Sukuk (T-Sukuk) through the bank’s EI + Mobile platform. UAE citizens and residents can invest as little as AED 4k, with the platform handling primary subscriptions, secondary-market trades, onboarding, KYC, and basic investor education tools.

ICYMI- The retail sukuk program launched in October, opening up T-Sukuk to retail investors for the first time to broaden the retail sukuk investor base. Abu Dhabi Islamic Bank was the first participating lender, and last month, the ministry signed its second agreement under the initiative with Emirates NBD, enabling fractional investments.

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