Modon makes another US play-

ADQ-backed developer Modon Holding has taken an undisclosed majority stake in Harborside 4, a 54-story residential tower on Jersey City’s waterfront, via a joint venture with US real estate firms Related Companies and Panepinto Properties, according to a company disclosure (pdf). The project will deliver 800 homes, with construction slated for 1Q 2026 and completion targeted for 1Q 2029.

Follow the income: Around 75% of the units will be retained as rentals, framing Harborside 4 as a long-dated, recurring-income asset rather than a build-and-sell play.

ZOOM OUT- Modon is hunting foreign cashflows: Modon’s overseas wagers include:

Presight exports smart city AI program to Albania

ADX-listed Presight will roll out a nationwide smart infrastructure program in Albania after inking a multi-year contract with the country’s Internal Affairs Ministry, according to a pressrelease(pdf). The AI-powered program — which builds on a letter of engagement signed earlier in February — will span 20 cities and 28 international border points.

What’s in scope: The AI and big data analytics firm will deploy an integrated smart city platform designed to digitalize and coordinate public services, including real-time urban operations management, AI-enabled traffic and mobility systems, advanced emergency response coordination, and a national command-and-control framework.

Albania adds to a growing roster of overseas mandates as Presight builds exposure outside the UAE. The firm currently operates in 20 countries, with agreements inked to enter markets in Uganda, Angola, Tanzania, and Kazakhstan. It opened its first international office in Kazakhstan in May and an R&D lab for smart cities in October.

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