A spanner in the works for Ras Al Khaimah’s property boom

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Pakistan follows through on clearing UAE dues + US stops short of UAE currency swap for now

Good morning, friends. The war is clouding the outlook for several sectors, including Ras Al Khaimah’s property market — which was on course for a major boom just a couple of months ago. We have more on that in this morning’s Big Story Today, below.

We also speak with Swvl’s CFO on the mobility startup’s Gulf expansion and its latest delisting notice from Nasdaq, as it publishes its 2025 earnings.

Plus: European venture capital firm Speedinvest has its sights set on MEA, and Al Ramz is pitching primary market access for the next IPO cycle.

WEATHER- It’s another warm day, though less sunny than usual, with a high of 35°C in both Dubai and Abu Dhabi and lows ranging between 26-27°C, according to our favorite weather app.

Watch this space

DEBT WATCH — Pakistan follows through on clearing UAE dues: Pakistan has returned USD 2 bn to the UAE and says it will repay the remaining USD 1.5 bn of a USD 3.5 bn UAE-linked deposit by 23 April, The Times of India and The Express Tribune report, citing unnamed officials.

Refresher: Pakistan said earlier this month it would return USD 3.5 bn in matured UAE loan deposits. The UAE had previously rolled over a USD 2 bn deposit until 17 April after multiple extensions. Separate support has also included a USD 450 mn loan dating back to 1996, and a further USD 1 bn deposit in 2023 to help Pakistan meet IMF-related funding needs.

Why now? The repayments come as Islamabad awaits a fresh USD 1.2 bn IMF disbursement under its bailout program, which would help cushion reserves.

How it’s being managed: More Gulf capital. Last week, Saudi Arabia extended a new USD 3 bn loan to help Pakistan meet an equivalent repayment to the UAE, while also rolling over its existing USD 5 bn deposit for a longer term.

Washington has signaled it would help the UAE but stopped short of agreeing to a currency swap for now, Bloomberg cites White House National Economic Council Director Kevin Hassett as saying.

A swap “probably won’t be necessary yet,” Hassett said, adding that “[t]he UAE has been an incredibly valuable ally,” and the US Treasury would “make every effort to help them out, should that be necessary.”

ICYMI- Earlier this week, the US and the UAE were reportedly in talks over a financial backstop if the regional war continues. While no formal requests were made at the time, the Central Bank of the UAE governor floated the idea of a currency-swap line to boost UAE foreign reserves, which could take a hit if the conflict drags on.

Data point

AED 1 bn — that was the value of monthly financing approvals made by Emirates Development Bank (EDB), a new high for the state lender as it expands funding for the UAE’s industrial agenda, according to a statement. The approvals were concentrated across EDB’s five priority sectors: manufacturing, food security, renewable energy, healthcare, and advanced technology.

The record funding comes against the backdrop of strain on industrial sectors and SMEs in the UAE since the war led to supply disruptions and price increases. Earlier this month, EDB said it was injecting an average AED 20 mn a day into the economy, while a separate partnership with ADEX is set to unlock AED 1 bn in export financing for UAE manufacturers.

The big story abroad

US-Iran talks are reportedly on track for later this week in Islamabad. Tehran will reportedly dispatch a negotiating team today, though it remains unclear who will lead it. US President Donald Trump said the two-week ceasefire will expire on Wednesday evening Washington time and that an extension is unlikely.

Meet Apple’s new CEO: After much speculation about who would lead the iPhone maker after CEO Tim Cook steps down, Apple’s board of directors has named John Ternus, the current senior vice president of hardware engineering, to lead the tech giant starting in September. Cook will become executive chairman of the board.

In other tech news: Amazon and Anthropic will spend over USD 100 bn on AI infrastructure over the next 10 years, as per a new agreement to secure up to 5 GW of new capacity to train and run Claude — the hottest AI application at the moment.

AND- Warsh faces the Senate. The Senate confirmation hearing for Fed Chair nominee Kevin Warsh is scheduled for today, marking the first major test for the Trump nominee. We will be closely watching what he says about reshaping monetary policy amid a shifting global economy. Warsh is expected to navigate a narrow path between the White House’s push for lower rates and Wall Street’s fears regarding Federal Reserve independence.

What to expect: Warsh is expected to tell senators that the Fed’s independence is not “particularly threatened when elected officials… state their views on interest rates,” according to remarks seen by the Financial Times. He will also emphasize the importance of the Fed’s independence in setting rates to keep inflation in check.

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A spanner in the works for RAK’s property boom

Ras Al Khaimah real estate was set for a major boom in 2026, with price growth for off-plan properties forecast earlier to grow around 20%, and activity surging in recent months as buyers look at it as an attractive alternative to the squeezed real estate markets of Dubai and Abu Dhabi. Megaprojects like the USD 5.8 bn Wynn Resort have also helped support the long-term outlook for the emirate.

Sales prices rose 32% y-o-y last year, while rents climbed 25%, as record tourist numbers also drove momentum.

Now, the regional conflict has put a spanner in the works of more than one sector. The UAE’s energy and financial services sectors have taken a hit, and a similarly depressing trend in tourism could be throwing RAK’s ambitions into turmoil — especially as the emirate gets much of its demand from foreign investors and tourists.

Purchases have dipped since the war started, even though they were rising significantly in previous months, one broker who chose to remain anonymous told us. The emirate was seeing even more activity than popular hotspots like Dubai South at times, but since the conflict started, transactions across all emirates dipped sharply, and RAK was not spared, they added.

Others chalk this up to a typical seasonal dip rather than any structural shift away from the emirate, real estate broker Mohamed Gamal told EnterpriseAM. “The current situation has made buyers more cautious, but demand remains strong because RAK offers higher rental yields and lower entry costs compared to more saturated markets… Before the conflict, demand was peaking.”

The main problem is foreign investor demand. International investors could hold back on purchases, but this would likely point to a “postponement rather than a permanent reduction in demand,” Cavendish Maxwell research manager Ali Siddiqui told us.

International investors make up 70% of sales at RAK Properties, the largest real estate developer in the emirate, CEO Sameh Muhtadi told AGBI recently. He expects that many people who are “familiar with the UAE” will realize that this is a “temporary glitch,” and that demand from the local market will continue to remain resilient.

A bigger focus on the local market’s needs could help: “We’re diversifying. That’s a healthy direction. Our branded apartments will continue to be offered to an international market, but we’re also going to address the local market,” he said, noting that one of their biggest current projects is a “huge” landbank earmarked for family homes for UAE residents.

As for new projects? “Developers and investors may reassess market conditions, demand forecasts, and financial feasibility before committing,” Siddiqui told us. RAK Properties, for one, hit pause on new launches for now, delaying them until May with the hope that the situation will be clearer then, AGBI quotes him as saying.

The good news is…

“The fundamentals that made RAK a hotspot haven’t changed,” Gamal told us. “The unique landscape and investor friendly 100% ownership laws are still the backbone of the market,” adding that the conflict is “temporary noise,” rather than something that would cause a 180 re-think. Siddiqui also sees “affordability [continuing] to be the emirate’s primary competitive advantage,” saying that this value proposition hasn’t changed.

Its low prices will likely continue to work in its favor, with some shifting their attention to the emirate recently, Gamal said. “Now, the market belongs to savvy, long-term investors. While some are selling below market price due to fear, [advantage] hunters are stepping in to secure the best [agreements],” he added.

Work on megaprojects — a key pillar of RAK’s diversification drive — is also pushing ahead: Gamal flagged the importance of the bn USD mega projects like the Wynn Al Marjan Island resort, construction work for which paused briefly at the start of the conflict, but was back on track soon after.

The outlook is positive — provided that stability returns soon. “If stability returns relatively quickly, RAK’s real estate sector is well-positioned to absorb any near-term challenges,” Siddiqui said.

As of a few weeks ago, there were no other reports of tourism-linked real estate developments being paused, Siddiqui told us, adding that hotel projects with funding already in the pipeline and spades already in the ground were unlikely to be put on hold.

The macro outlook backs RAK for now: A few weeks into the war, S&P Global affirmed the emirate’s rating at A/A-1 with a stable outlook, flagging that its low debt to GDP ratio and strong net asset to GDP ratio provide buffers to absorb shock. Siddiqui sees “RAK’s diversified source markets, value positioning, and status as a global destination for tourism” as supporting a recovery once conditions stabilize.

Those three sectors make up 60% of the emirate’s GDP, meaning that any further disruption, particularly to the Wynn resort, which is slated to make up 42% of RAK’s total GDP, would constitute a serious speedbump in the emirate’s diversification gameplan.

For now, the tug of war to reinstill investor confidence is still ongoing, with tourism numbers down and UAE authorities rolling out measures to buoy the sector. In RAK, it is no different, with the market waiting to see whether the emirate can retain its title as what Gamal called “the silent beneficiary,” as “smart money moves away from saturated markets like Dubai and Abu Dhabi toward safer, higher-growth [avenues].”

Swvl is not dropping off of Nasdaq just yet

If you’ve seen Nasdaq’s delisting notice for Swvl from last November, you might think the Dubai-headquartered mobility startup is on course for an exit. That could seem to be true, especially if you check its market cap, which is currently sitting at USD 15.7 mn — way below the USD 35 mn threshold Nasdaq requires. You might also remember it’s not their first delisting notice, with the company getting several more back in 2023. But the actual story is a little more complicated than that.

Listed companies only need to meet one of three standards to remain listed on the stock exchange, and the market cap threshold is just one of them, according to Nasdaq’s latest listing guide (pdf). The other two criteria are maintaining net income above USD 500k (either in the most recent fiscal year or in two of the last three) or having total shareholders’ equity exceed USD 2.5 mn.

While Swvl falls short on the final standard, its net income and shareholders’ equity sit comfortably above those thresholds, according to its 2025 earnings presentation (pdf). The company returned to profitability last year, with net income coming in at USD 1.3 mn, up from a net loss in 2024. Meanwhile, its total equity is currently at USD 2.9 mn, up from USD 680k the year before.

The turnaround came as revenue grew 41% y-o-y to USD 24.2 mn and its restructuring earlier in 2023 and 2024 — with a larger focus on B2B and B2G contracts — started reflecting in its balance sheet, Swvl CFO Ahmed Misbah tells EnterpriseAM. The net loss from the past few years was a result of the unwinding and restructuring the firm undertook, which was largely expected, as CEO Mostafa Kandil told us earlier in 2024. They were wagering on those turnaround strategies to reap some results in 2025, as Kandil said at the time — which it did.

The company’s strategy was to focus on expanding in the Gulf and the US — both moves for which it has already started to make strides. Its Gulf revenues grew 122% y-o-y to USD 8 mn, a bulk of which was driven by growth in the UAE, Misbah said. The company relaunched operations in the UAE in early 2025 — after halting them earlier due to low margins — and it has since secured four large enterprise contracts there, he added. That includes a USD 5.5 mn contract it announced last February.

Earlier in its expansion phase, the startup was focusing on growth and market entry, even if at extremely low margins. That’s changing now, Misbah said, adding that the company has become “more disciplined about the contracts we take on, and no longer pursue that low margin on account of top-line growth.”

Gross margins fell slightly to 18.2% last year, mostly due to early-stage contracts in the UAE carrying lower margins, according to the presentation. Still, margins — currently at 14-18% — are much higher than their pre-restructuring levels, and they are expected to rise further as “we deepen our understanding of clients’ operations and our route optimization takes effect,” he explained.

“The GCC remains one of our highest priority areas and segments for multiple reasons, firstly because we understand the market inside out, and we have connections across the region that we’re now able to cross-leverage across multiple geographies,” Misbah said. While Saudi Arabia remains Swvl’s largest market, Misbah expects the UAE to “take off” pretty soon, having already secured its first contract in Kuwait. Qatar is also on the company’s radar, he added.

Egypt remains the company’s biggest market by revenue share, posting 20% y-o-y growth to USD 16.2 mn.

Meanwhile, the company is still in the early stages of its US operations, having recently made its first hire to build up a sales pipeline in that market, Misbah said. The company is expected to build its staff and invest more resources there as they secure more contracts, he noted. Their first order of business? Shuttle buses for the 2026 World Cup.

Looking ahead? The company expects growth to accelerate into FY 2026. That growth is also of much “higher quality,” the firm said in its presentation, reflected by a larger portion of recurring and USD-denominated revenues.

Swvl also plans to invest further in its investor relations, which it expects to help prop up its share value, Misbah said, especially after working largely “in stealth mode” over the past few years while it was deep in its restructuring strategy. The company’s shares rose 2.5% yesterday to close at USD 1.62 apiece, down sharply from their listing price of USD 9.95.

Al Ramz pitches primary market access in dual-fund launch

Jumping the primary market queue: DFM-listed brokerage and investment firm Al Ramz Corporation is opening up two new GCC-focused funds targeting fixed-income instruments and equities across the region to the public, it said in a press release. Investors have until Wednesday, 13 May to subscribe to the open-ended vehicles — namely the Horizons GCC Sukuk Fund and the Fortitude GCC Equity Fund — through Al Ramz’s website and app.

SOUND SMART- Open-ended mutual funds don’t typically come with a ticker. Investors subscribe directly to the fund and get units priced at net asset value (NAV), rather than trading in and out on an exchange. These two follow that playbook, more akin to a traditional mutual fund than an ETF, where units change hands intraday, and prices move with the market.

If the book doesn’t fill: Both funds include a fallback second subscription window lasting until 15 June if minimum capital thresholds are not met, according to their prospectuses here (pdf) and here (pdf). The maximum fund size is capped at USD 2 bn for the sukuk vehicle and at AED 2 bn for the equity fund, giving Al Ramz room to scale AUM quickly if demand materializes.

A bid for allocations

This is essentially a play on access to GCC primary markets. The Fortitude equity fund is designed to secure institutional equity for investors who are typically crowded out of oversubscribed regional IPOs — at least before the Iran war threw a wrench in IPO momentum. Its fixed-income sibling, Horizons, offers similar entry into primary-market sukuk that often sell out before reaching the secondary market.

Why launch an IPO fund into a lull? Al Ramz is likely playing the next cycle. With IPO activity on pause, the funds are effectively collecting dry powder to deploy once the backlog of listings starts to move again — which analysts expect could happen in 2H.

ALSO- The move underscores the firm’s shift from a brokerage-led model toward a more vertically integrated asset manager, building out distribution and market access alongside its recent expansion into market-making in Bahrain and Oman.

What’s under the hood

The USD-denominated Horizons GCC Sukuk Fund is pitched as the defensive leg, targeting shariah-compliant investment-grade sovereign and corporate sukuk across the GCC. Its strategy is duration-led, with a weighted average maturity of around seven years, and is strictly limited to investment-grade credit. Fees come in at 1% annually on NAV, alongside a 1% subscription fee and no exit charges. The fund requires a minimum USD 5 mn to launch and a minimum commitment of USD 10k per investor.

The AED-denominated Fortitude GCC Equity Fund takes the opposite end of the risk spectrum, targeting an absolute return of 8% per year through active exposure to listed GCC equities and IPO participation, according to its prospectus. Its strategy is more aggressive, with a 1.25% management fee and a 20% performance fee on returns above the 8% hurdle, alongside a 1% entry fee. While not exchange-traded, the fund offers weekly liquidity and redemptions. It requires a minimum AED 10 mn to launch.

ADVISORS- Emirates NBD Capital will provide custody services for the funds, while Deloitte & Touche was tapped as auditor and Al Tamimi & Co as counsel. Apex Fund Services will act as unit registrar, transfer agent, and administrative service provider, while Minhaj Advisory was tapped as a shariah supervisory company for the sukuk fund.

Speedinvest doubles down on MEA

European venture capital firm Speedinvest launched its first flagship fund targeting early growth-stage startups across the Middle East and Africa, backed by Mubadala, Qatar Investment Authority (QIA), and EIB Global, according to a press release.

The move formalizes a regional push the firm says it has been building for years through existing wagers like UAE-based Flow48, Egypt’s Khazna, Nigeria’s FairMoney and Moove, and Pakistan’s Abhi.

Speedinvest is still raising the fund and is not disclosing the total size yet. What we do know: it is targeting average initial investments of around USD 5 mn, primarily at Series A and B, with reserve capital for follow-ons. “We’re already actively deploying capital, with our first investments progressing and announcements to follow,” Rana Abdel Latif, partner at Speedinvest, tells EnterpriseAM.

The real filter is execution, not geography: Asked how it would balance capital between mature Gulf markets and higher-growth but more volatile African hubs, the firm declined to disclose allocation quotas. Instead, it says it focuses on companies with “strong early traction and a clear path to scale beyond their home market from day one,” adding that “exceptional founders can build globally relevant companies from anywhere.”

Europe is part of the pitch

Cross-border expansion is central to the model. Speedinvest tells EnterpriseAM its Europe-MEA strategy is “very much a two-way bridge,” helping regional startups expand into Europe where relevant, while bringing European capital, sector expertise, and operating networks into local ecosystems.

“At a time of increasing global fragmentation, we believe building these kinds of long-term, cross-border connections is critical,” Abdel Latif said. “It’s not about one direction, but about creating the infrastructure and partnerships that allow founders to build enduring global companies from anywhere.”

What Mubadala and QIA really add

The sovereign names are not picking startups. Speedinvest said Mubadala, QIA, and EIB Global are long-term LPs and “are not involved in individual investment decisions,” with the firm retaining full independence over portfolio construction.

Still, their value goes beyond capital: Abdel Latif said the partnerships bring “deep local insight, strong regional networks, and a long-term perspective,” exactly the sort of advantages global funds increasingly need to compete in MENA and Africa.

Another UAE-China tie-up, one more CfD brokerage lands in the Emirates, int’l heavyweights back Kaio

UAE-China agreement flow keeps building

ADGM has signed an MoU with a key financial hub in China’s “silicon valley” to deepen cross-border financial ties, according to a statement. The agreement, inked with Futian District in the Shenzhen region, covers collaboration across financial services, talent development, AI in finance, and investment structures including qualified foreign LP frameworks, alongside joint forums and business engagement between the two sides.

IN CONTEXT- The pact lands as Abu Dhabi sharpens its China strategy, fresh off last week’s 24 UAE-China agreements covering trade and investment. The UAE is also reportedly considering combining China-focused assets held across Mubadala and L’Imad Holding into a joint vehicle, a sign it wants more China exposure but less overlap when chasing agreements.

More FX/CfD brokerages are landing in the UAE

Australia-based online trading platform Mitrade has secured a license from the UAE’s Capital Markets Authority (CMA) allowing it to offer regulated contracts for difference (CfD) trading in the region, according to a statement. The platform offers CfDs across forex, commodities, indices, shares, and ETFs.

Why now? The timing looks tied to volatility. Mitrade cited the International Energy Agency estimates that shipping through the Strait of Hormuz has fallen 90% since late February, helping drive sharper moves across oil and macro markets. The firm said CFDs let traders react to fast-moving conditions “without owning the underlying asset,” a message likely to land when energy and safe-haven trades are swinging.

The pipeline of trading and market-infrastructure players targeting the UAE is already building. Players including CFD brokers XM and Traze secured SCA licences in Dubai last year.

Int’l heavyweights back Kaio with USD 8 mn

Abu Dhabi-based digital assets platform Kaio secured USD 8 mn in its latest funding round, which will help it expand across asset classes and enhance its onchain fund distribution infrastructure, according to a press release. The funding round attracted the likes of crypto giant Tether, Systemic Ventures, Further Ventures, and Laser Digital.

Next up: Kaio is looking to roll out an onchain fund with Mubadala and to expand into ETFs, credit, and structured investments. It’s also aiming to use tokenization to bring down the minimum participation threshold in funds to USD 100.

Stablecoins stir dollarization fears across emerging markets

Central bankers are worried that the USD is staging a digital coup. The growing use of USD-linked stablecoins is accelerating dollarization in emerging markets — outpacing regulators and weakening central banks’ control over monetary policy — while also creating new channels for tax evasion and cybercrime, the Financial Times reports.

SOUND SMART- Stablecoins are crypto tokens pegged to fiat currencies like the USD. They are gaining ground as a low-cost, near-instant alternative to traditional cross-border transfers.

These assets are taking off in emerging markets: In several EMs, stablecoins are already grabbing a “significant share” of the transaction pie, the IMF’s Tobias Adrian said. People are using them to hedge against local inflation and currency depreciation and to bypass government restrictions on access to foreign currency.

By the numbers: Standard Chartered expects stablecoin EM holdings to jump to USD 1.22 tn by 2028 from USD 173 bn currently, with growth concentrated in financially stressed economies like Egypt, Pakistan, and Bangladesh.

Why regulators are worried

Evicting the local currency: Dollarization can limit central banks’ control over money supply and policy, making it vulnerable to US monetary shifts and posing “serious risks for financial integrity,” Bank for International Settlements chief Pablo Hernández de Cos said.

A very one-sided market: Around 98% of the USD 315 bn stablecoin market is USD-denominated, spurred in part by US policy moves integrating the sector into the regulated financial system.

Beyond policy issues, there’s a growing crime problem: Stablecoins open “new avenues for tax evasion”, Hernández de Cos said, citing estimates that they account for most illicit crypto transactions. The Financial Action Task Force has likewise warned that stablecoins were “attractive for criminal misuse” and increasingly used to launder proceeds from ransomware, phishing, and other cyber-enabled crimes.

The response plan

Regulators playing catch-up: The pace of global rule-making for stablecoins has slowed, with Bank of England Governor Andrew Bailey warning that regulators will soon have to “come to terms” with their growing use — particularly where they replace domestic currencies in everyday transactions.

But policy responses are emerging: Countries can counter dollarization risks by strengthening macroeconomic frameworks, said deputy head of the IMF Dan Katz. Brazil has already moved to regulate stablecoin providers under anti-money laundering rules and imposed a USD 100k cap on many foreign transfers.

The BIS is building alternatives: The bank is working with central banks and commercial lenders on potential alternatives to stablecoins, including tokenized bank deposits designed to offer similar speed and efficiency without ceding monetary control.

MARKETS THIS MORNING-

Hopes of easing tensions between the US and Iran, amid reports that the two sides are at the negotiation table this week, pushed stocks higher this morning. Japan’s Nikkei and South Korea’s Kospi are both up over 1% in early trading. Over on Wall Street, markets are expected to open higher, with futures in the green.

ADX	9,842	-0.8% (YTD: -1.5%)
DFM	5,862	-2.1% (YTD: -3.1%)
Nasdaq Dubai UAE20	4,736	-1.6% (YTD: -3.1%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	3.6% o/n	4.0% 1 yr
TASI	11,367	-0.9% (YTD: +8.4%)
EGX30	51,813	-1.1% (YTD: +23.8%)
S&P 500	7,109	-0.2% (YTD: +3.7%)
FTSE 100	10,609	-0.6% (YTD: +6.6%)
Euro Stoxx 50	5,983	-1.2% (YTD: +2.3%)
Brent crude	USD 95.48	+5.6%
Natural gas (Nymex)	USD 2.67	-0.7%
Gold	USD 4,842	+0.3%
BTC	USD 75,866	+2.8% (YTD: -13.4%)
Chimera JP Morgan UAE Bond UCITS ETF	AED 3.67	+0.6% (YTD: -2.1%)
S&P MENA Bond & Sukuk	152.1	+0.3% (YTD: +0.1%)
VIX (Volatility Index)	18.87	+8.0% (YTD: +26.2%)

THE CLOSING BELL-

The ADX fell 0.8% yesterday on turnover of AED 993.9 mn. The index is down 1.5% YTD.

In the green: Abu Dhabi National Takaful Co. (+15.0%), Abu Dhabi National for Building Materials (+14.5%), and Gulf Cement Co. (+6.7%).

In the red: Invest Bank (-5.0%), Ins. House (-5.0%), and GFH Financial Group (-4.8%).

Over on the DFM, the index fell 2.1% on turnover of AED 980.4 mn. Meanwhile, Nasdaq Dubai was down 1.6%.

CALENDAR

APRIL

20-22 April (Monday-Wednesday): Abu Dhabi Global Entrepreneurship Festival, Abu Dhabi Energy Center, Abu Dhabi.

21 April (Tuesday): FAO Regional Conference for the Near East (NERC38), Al Ain.

28-29 April (Tuesday-Wednesday): Innovation Summit Middle East & Africa, Abu Dhabi.

MAY

4-7 May (Wednesday-Friday): Make It in the Emirates, Adnec Center, Abu Dhabi.

8-24 May (Saturday-Sunday): Dubai Esports and Games Festival, Dubai.

11-13 May (Monday-Wednesday): AI Everything Global, Adnec Center, Abu Dhabi.

11-15 May (Monday-Friday): Dubai Future Finance Week, Dubai.

12-14 May (Tuesday-Thursday): Abu Dhabi Infrastructure Summit, ICC Hall, Adnec Center, Abu Dhabi.

19-20 May (Tuesday-Wednesday): Capital Market Summit, Madinat Jumeirah, Dubai.

19-22 May (Tuesday-Friday): Abu Dhabi Water and Energy Week, Adnec Center, Abu Dhabi.

20-21 May (Wednesday-Thursday): Arab Competition Forum, Dubai.

JUNE

3-4 June (Wednesday-Thursday): MENA Investor Conference, Ritz-Carlton DIFC, Dubai.

3-4 June (Wednesday-Thursday): MENA Desalination Forum, Conrad Abu Dhabi Etihad Towers, Abu Dhabi.

15 June - 15 September (Monday-Thursday): Dubai Mallathon, Dubai.

22-24 June (Monday-Wednesday): The International Glass Manufacturing Show, Dubai.

JULY

31 July (Friday): Large businesses achieving annual revenues equal to or above AED 50 mn must appoint an accredited service provider for e-invoicing implementation.

AUGUST

17-20 August (Monday-Thursday): Arabian Travel Market, Dubai World Trade Center, Dubai.

SEPTEMBER

1-3 September (Tuesday-Thursday: Middle East Energy, Dubai World Trade Center, Dubai.

7-9 September (Monday-Wednesday): AIM Congress, Dubai World Trade Center.

7-9 September (Monday-Wednesday): International Property Show, Dubai World Trade Center, Dubai.

12-13 September (Saturday-Sunday): Emirates International Congress on AI & Visionary Leadership in Transforming Healthcare, Adnec Center Abu Dhabi.

OCTOBER

4-10 October (Sunday-Saturday): World Space Week, Abu Dhabi.

12-14 October (Monday-Wednesday: Airport Show, Dubai World Trade Center, Dubai.

20-22 October (Tuesday-Thursday): Future Health Summit, Adnec Center Abu Dhabi.

Signposted to happen sometime in October 2026:

Abu Dhabi Space Week, Abu Dhabi.

NOVEMBER

4 November (Wednesday): Digital Transformation Summit, Sofitel, Abu Dhabi.

9-10 November (Monday-Tuesday): Annual government meetings, Abu Dhabi.

10-12 November (Tuesday-Thursday): Dubai International Electric Vehicle Exhibition & Conference, Dubai World Trade Center.

DECEMBER

2-4 December (Wednesday-Friday): UN Water Conference, UAE.

Signposted to happen in 2026:

Investopia Global Talks, Tashkent;
Investopia, Abu Dhabi.

Signposted to happen sometime in 2027:

1 January: Deadline for large businesses to implement e-invoicing;
1Q 2027: Completion of the first phase of Hassyan seawater desalination project;

1-3 February (Monday-Wednesday): World Governments Summit;
31 March: Small businesses with annual revenues of less than AED 50 mn are obliged to contract with an accredited service provider for e-invoicing implementation;
31 March: Government entities are required to appoint an accredited service provider for e-invoicing implementation;
21-22 April (Wednesday-Thursday): Token2049, Dubai;
1 July: Deadline for small businesses to implement e-invoicing;
1 October: Deadline for governments to implement e-invoicing;
Abu Dhabi’s solar and battery energy facility, combining 5.2 GW of solar capacity and 19 GWh of battery storage, is set for commissioning.

Signposted to happen sometime in 2028:

Artificial Intelligence Summit.

Signposted to happen sometime in 2029:

Sibos 2029 organized by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), Dubai;
Annual Meetings of the World Bank Group and the International Monetary Fund, Abu Dhabi;
The commissioning of the seventh phase of Mohammed bin Rashid Al Maktoum Solar Park.

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