ADNH Catering raises AED 864 mn in Abu Dhabi IPO

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Emirates Reit shareholders approve Tecom's AED 720 mn Office Park acquisition

Good morning, wonderful people. The two big headlines on a very busy morning: Investor appetite for ADX IPOs remains high and the Gulf Cooperation Council has agreed to restart trade talks with the European Union. Plus: The World Bank’s Mena economic update isn’t as bad as it seems on first glance.

BUT FIRST- Some international scuttlebutt to get your morning started:

Regional HQ? We ain't got no regional HQ. We don't need no regional HQ… BNP Paribas doesn’t want to have to choose between Abu Dhabi, Dubai, and Riyadh — so it’s planning to cut staff in Bahrain and “scrap Manama as its Middle East and Africa head office,” Reuters says, citing unnamed sources. All of its offices in our neck of the woods would instead report into Paris if the plan goes ahead.

MEANWHILE- Jamie Dimon seems to be the only guy on Wall Street with an appetite for Africa. He’s on a tour of the continent this week after Kenya said on Monday it would allow JPMorgan Chase to set up a rep office there and is now saying that the bank plans to enter Kenya and Ivory Coast this year. “We want to add a country or two in Africa, every couple of years or so,” he said.

Dimon’s target market: Cover governments, large state-owned enterprises, and multinationals with “traditional banking services” including commercial banking, investment banking advisory, treasury services, and probably some lending.

WORLD BANK MENA ECONOMIC UPDATE

The World Bank’s semi-annual MENA economic outlook was out overnight. The report sounds a distinct note of caution about how war in Gaza (to say nothing of Lebanon and the menace to Red Sea shipping) is an overhang on economic growth. Check out the announcement here and the report here (pdf).

The report plays up the deceleration of growth in 2024, saying that it’s been driven largely by the GCC economies. MENA economies as a whole will grow about 2.2% in 2024 — better than the 1.8% we saw in 2023, but far off the 5.8% pace we saw the year before.

We hope we’re not indulging our inner Pollyanna, but… That take masks the bank’s own forecast for a sharp pickup in growth next year. Check out (numbered) page 11, where the report’s authors are forecasting that growth in 2025 will accelerate to 3.8% across the region.

For the Big Three, the World Bank see:

UAE growth at 4.1% in 2025, up from 3.3% this year;
Saudi growing at a 4.9% clip in 2025, compared to just 1.6% this year;
Egypt’s economy expanding 3.5% in 2025, compared to 2.5% this year.

The worry: “Economic uncertainty in MENA is currently twice the average of other emerging markets and developing economies worldwide,” the report writes, saying its estimate is based on its measure of “the dispersion of views amongst private sector forecasters.”

What to watch for next: The report is out ahead of the kickoff next week of the World Bank and IMF Annual Meetings in Washington, DC. The meetings run Monday, 21 October through Saturday, 26 October, with the main events taking place 22-25 October.

^^ We’ll have another look at the report today and get back to you folks tomorrow if there’s anything else worth knowing.

WATCH THIS SPACE-

#1- The UAE can “guarantee the safety and the security” of AI chips “if and when they are being deployed and used here,” G42 CEO Peng Xiao said at Gitex, CNBC reports. His remarks come as the Biden administration considers imposing new restrictions on chip sales from Nvidia and others to the Middle East due to concerns over potential technology transfers to China.

In context: Xiao acknowledged US policymakers' concerns while emphasizing the UAE's commitment to transparency and security when it comes to sensitive technologies. The US has previously expressed worries about G42's ties to China, prompting the company to distance itself from mainland companies earlier this year.

BACKGROUND- The UAE and the US have committed to increasing cooperation in artificial intelligence, with discussions on a government-to-government MoU on AI underway. The topic was front and center during President Sheikh Mohamed bin Zayed Al Nahyan’s meeting last month with US President Joe Biden.

#2- Emirates Reit shareholders approved Tecom Group’s AED 720 mn acquisition of the Office Park building in Dubai Internet City, according to a DFM disclosure (pdf). The two parties signed a binding MoU for the sale two weeks ago. Tecom plans to invest AED 2 bn in strategic acquisitions and developments.

#3- Moonbase to invest USD 15 mn in search funds with an eye on emerging markets: Spain-based search fund investment firm Moonbase Capital has launched its second, USD 15 mn investment vehicle, with some 40% of the funds earmarked for deployment in emerging economies. The UAE and Saudi Arabia are on Moonbase’s list, EnterpriseAM Egypt reports.

Search funds? Search funds are investment outfits that raise capital to acquire well-performing small- or medium-sized businesses (SMEs). They’ll often then bring in an experienced entrepreneur to run the business and grow the company before exiting.

The details: Moonbase’s new fund will aim for 10-15% stakes with an average ticket price of EUR 1.25 mn over the coming 3-4 years. The fund is led by Managing Partners Tamer El Bahay and Tarek El Gammal.

#4- Kenya is talking with the UAE for USD 1.5 bn loan, Reuters reports. Kenya would use the funds to plug the gap in its budget.

HAPPENING TODAY-

☀️ WEATHER- It’s another hot and sunny day in Dubai, with temperatures hitting 36°C before cooling to an overnight low of 30°C. The mercury in Abu Dhabi is set to hit 32°C before cooling a bit to 30°C overnight.

PSA-

Residents will be able to use Tabby to pay via installment for Dubai Roads and Transport Authority (RTA) services starting next week, RTA digital services director Meera AlShaikh told Khaleej Times.

THE BIG STORY ABROAD-

The race for the White House has pushed business news a bit further down the front pages with 18 days to go until voters head to the polls in the United States. Harris raised substantially more than Trump in 3Q and the two are chasing each other’s voters.

INTEREST RATE WATCH- Economists see the European Central Bank delivering another quarter-point rate cut when it meets later today — and Goldman Sachs thinks the US Federal Reserve will deliver consecutive 0.25 bps cuts from November through June 2025.

ON WALL STREET:

The Dow posted yesterday its third record-high close in four sessions ;
The WSJ’s latest survey suggests economists are more upbeat about economic growth in the US of A;

Private equity limited partners are selling their stakes in the secondary market amid a cash crunch;
It’s been a very good 3Q earnings season for Wall Street banks thanks to strong fees from M&A activity and debt issuances

IN TECH- Uber’s super-app ambitions now see it kicking the tires on the acquisition of travel website Expedia. The Financial Times notes that while the transaction is in very early stages and could still go bust, Uber chief Dara Khosrowshahi was the CEO of Expedia for a dozen years ending in 2017 and is still on the site’s board of directors, “making it likely that any approach would be friendly.”

In Lebanon: Israel has stepped up its attack with further strikes and is claiming to have killed a Hezbollah commander yesterday.

OIL WATCH-

Oil product stock at UAE’s Port of Fujairah increased by 5.6% last week amounting to a total of 16.9 mn barrels, according to an S&P Global report. It’s the third consecutive weekly increase and comes thanks to a 38% rise in inventories of so-called middle distillates such as jet fuel and diesel. Fuel oil exports to Saudi Arabia from Fujairah rose by almost five-fold in the second week of October.

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CIRCLE YOUR CALENDAR-

The Sharjah International Conference on AI & Linguistics will take place on 17-18 October at the American University of Sharjah.

The Lease Conference Dubai 2024 will take place on 13-14 November at the Jumeirah Creekside Hotel. The event will bring together key players in the leasing industry across the Middle East and Africa.

EFG Hermes will host its annual One on One Conference from 7 to 10 April 2025 in Dubai. The largest gathering of its kind in the MENA region, the conference connects hundreds of international corporate leaders with institutional investors and family offices from around the world.

Check out our full calendar (at the bottom of this email) for a comprehensive listing of upcoming news events, national holidays and news triggers.

ADNH Catering raises AED 864 mn in its ADX IPO

The IPO of a 40% stake in Abu Dhabi National Hotels’ ADNH Catering raised AED 864 mn in gross proceeds as bookbuilding came to a close yesterday, the company said in a statement (pdf). The offering was “multiple times” oversubscribed, the bookrunners said as they priced ADNH Catering at AED 0.96 per share — the upper end of the AED 0.91-0.96 range on which they had guided.

That will give ADNH Catering a market cap of AED 2.16 bn at the start of trading on Wednesday, 23 October.

Who’s in? The offering attracted both international and regional investors. Bookrunnders didn’t name cornerstone investors and didn’t specify an oversubscription ratio.

What’s next? Retail investors in the first tranche will receive an SMS confirmation of their allocation on 21 October. You can check out the FAQ for the transaction here (pdf) or the memorandum for the international offering here (pdf).

REMEMBER- The company is currently looking into expanding into Saudi Arabia, particularly Jeddah and Riyadh.

ADVISORS- First Abu Dhabi Bank, Emirates NBD, Citigroup, and Abu Dhabi Commercial Bank (ADCB) acted as joint bookrunners, with Citigroup and FAB also acting as joint coordinators. FAB was also the lead receiving bank of the IPO, with Abu Dhabi Islamic Bank, ADCB, Emirates NBD, and Emirates Islamic Bank also acting as receiving banks. ADNH tapped BHM Capital as price stabilization manager.

GCC to restart trade talks with the EU, hold summits every two years

The European Union convened its first summit with the GCC yesterday, Reuters reports. On the agenda: trade and investment, renewable energy, regional security, and visa policies. Representatives of all six GCC member states attended.

The big outcomes:

An EU-GCC trade agreement is back on the front burner. Talks launched nearly four decades ago, but were suspended in 2008. The agreement will include a chapter on investment.
The two blocs will next meet in Saudi Arabia in 2026 and aim to hold summits every two years;
Deepening trade and investment in clean tech and green energy will be a priority.

FAST FACT- The EU is the GCC’s second-largest trade partner, generating EUR 170 bn in trade last year.

GO DEEPER- You can check out the summit website here and the final communique here (pdf).

Nakheel awards USD 1.36 bn construction contracts for Palm Jebel Ali villas

Dubai Holding’s real estate arm Nakheel awarded three construction contracts worth a combined USD 1.36 bn for Palm Jebel Ali’s villas on the first six fronds, The National reports. The contracts were awarded to Ginco General Contracting, Shapoorji Pallonji Mideast, and United Engineering Construction (UNEC).

The details: Set for completion towards the end of 2026, the units under contract include 539 five- and six-bedroom beach villas and 184 seven-bedroom coral villas. Ginco will build 197 villas, while Shapoorji will develop 275 villas, and UNEC will be assigned 251. The contracts also include the development of infrastructure and public spaces within the respective fronds.

REMEMBER- Nakheel awarded the development of Palm Jebel Ali’s infrastructure to DBB Contracting and Khansaheb Civil Engineering in May. It also gave Jan De Nul Dredging an AED 810 mn contract for marine works and dredging at the luxury area two months ago.

Event report: Day three of Gitex

Day three of Gitex Global 2024 delivered blitz of news on the AI and digitization fronts. Here’s a roundup of the key updates:

Microsoft and its partners will invest USD 5.1 bn in local data center regions over the next four years. The company says its activities here will add USD 74.4 bn to the UAE economy over the next four years and help create 41.8k jobs through 2028.

REFRESHER- Microsoft partnered up with G42 earlier in September to open two artificial intelligence centers in Abu Dhabi to improve AI access in the Middle East and Global South. This partnership builds on previous USD 1.5 bn Microsoft investment in G42 in April.

GOVERNMENT SERVICES-

#1- Abu Dhabi launches TAMM 3.0: The Department of Government Enablement launched TAMM 3.0, an AI-driven platform that it says will integrate over 800 government services into one app and portal for citizens, residents, and investors.

Details: TAMM 3.0 features an AI assistant with voice command capabilities in Arabic and English, along with expanded live support options via video and audio.

#2- Sahatna app: Abu Dhabi’s Department of Health launched the Sahatna app, which consolidates health records and clinical interactions for citizens, residents, and businesses in the emirate, state news agency Wam reports.

CONSTRUCTION + INFRASTRUCTURE-

#1- Abu Dhabi's DMT launches AI-enabled construction platform: Abu Dhabi’s Department of Municipalities and Transport (DMT) introduced an AI-enabled construction platform, Wam reports. The platform features an AI chatbot for information on building codes and regulations.The DMT said it is also working with Core42 to boost artificial intelligence and cloud computing capabilities and with Locai on smart cities and data technologies. DMT is also contracting with Siemens to develop smart city solutions and with Presight for the research and implementation of AI technologies in transportation.

#2- AI firm Nybl will work with Space42 to launch a satellite-enabled solution for the oil and gas sector, using real-time AI insights for better oil well management, according to a statement posted on X.

#3- Sharjah launched a “Smart Inspection System” that aims to streamline inspection of plastic and metal materials used in construction, including insulation, floor coverings, and plastic pipes, Sharjah 24 reports. The system aims to cut the time it takes to finish an inspection to seven minutes from three days.

DIGITIZATION-

#1- The Abu Dhabi Department of Economic Development is contracting with 7X to explore a digital mailbox platform, Wam report, while Abu Dhabi Customs inked agreements with the Federal Authority for Nuclear Regulation and FedEx.

#2- The UAE Accountability Authority will use Core42’s Sovereign Public Cloud and migrate its systems to the Microsoft Azure platform. Core42 provide Microsoft Azure certification training to staff at the authority.

#3- Sharjah Digital Department launched the Aqari platform in collaboration with Adres Real Estate Services, digitizing real estate transactions and creating a unified database for properties in the emirate, Wam reports. The platform will offer services including lease contracts, property ownership, buying, selling, mortgaging, and dispute resolution. The first phase is set to roll out this December, focusing on property leasing services, contract endorsements, and dispute resolution.

** Did you miss day two? Check out our coverage here.

How Adnoc is looking at the energy transition

It was relatively quiet for the UAE in the global press overnight. The Financial Times takes a look at Adnoc’s energy transition plans, including decarbonizing existing operations and transitioning into green energy while reserving oil and gas for export. The company is banking on continued strong global demand for gas, especially after Russia's removal from Europe’s gas market. The salmon-coloured paper also dove into Adnoc’s chemicals, plastics, and ammonia investments. FT interviewed Adnoc executive director Musabbeh Al Kaabi discussed the company’s strategies in an interview.

REMEMBER- Adnoc finalized yesterday its USD 3.62 bn acquisition of OCI Global's 50%+1 stake in the chemical producer Fertiglobe. It also made a public takeover offer earlier this month to acquire German chemicals company Covestro for EUR 14.7 bn.

Al Seer Marine secures USD 80 mn financing from China’s BoCOM

DEBT WATCH-

#1- IHC maritime subsidiary Al Seer Marine secured USD 80 mn in financing from China's Bocom Financial Leasing for its newly delivered medium range tankers, Betelgeuse and Bellatrix, according to a press release (pdf). It’s the first time Al Seer has lined up funding from outside the UAE. The two tankers are designed for alternative fuels, including liquefied natural gas, ammonia, and methanol.

#2- Adani Green Energy’s subsidiary Hybrid G1 is scrapping plans to sell a USD 1.2 bn bond, Reuters reports, citing unnamed sources who said Hybrid G1 was unhappy with the yield demanded by prospective buyers. Emirates NBD and FAB were mandated bookrunners, a press release had said.

AVIATION-

Emirates taps Airbus and Boeing for new freighter order: Emirates is in talks with Airbus and Boeing to acquire freighter versions of the A350 and 777X as it plans to triple its cargo fleet to 35 planes by 2030, senior vice president Nadeem Sultan told The National. Although the size of the order is still undecided, the airline expects to make a decision on the investment ticket within weeks.

Expanding its fleet: Emirates currently boasts a fleet of Boeing 777 freighters, with several of them on lease. The airline announced a freighter aircraft order in July to replace some of the expiring leases.

Despite the woes: The decision is being taken despite delays in Boeing 777X’s programme and Rolls-Royce engine durability issues on the A350s.

ENERGY-

A step forward for Masdar’s Baltic Eagle wind farm: Masdar and Spanish renewable energy outfit Iberdrola have completed the installation of all 50 wind turbines at the Baltic Eagle offshore wind farm in the German Baltic Sea, according to a statement. The turbines — supplied by wind energy company Vestas — have a total capacity of 476 MW.

BACKGROUND- Masdar closed EUR 488 mn in funding back in March to secure its acquisition of 49% of the Baltic Eagle wind farm. It’s set to start operations by the end of this year.

BANKING-

#1- Mashreq and Oracle expand partnership: Our friends at Mashreq are migrating key databases to Oracle’s Exadata Cloud@Customer to boost operational efficiency and scalability as they expand globally in markets like the US, UK, and Hong Kong, according to a press release.

#2- Turkey's Ziraat Bank has started operations at its new office in the Dubai International Financial Centre (DIFC), according to a press release.

PLANET STARTUP-

Local fintech firm Abhi lined up USD 15 mn in debt financing from a group led by Abu Dhabi-based VC Shorooq Partners and Dubai-based Amplify Growth Partnership, Zawya reports. Abhi will use the funding to scale its operations and expand its earned wage access (EWA) solutions, which allow blue-and-white-collar workers to access a portion of their accrued wages ahead of payroll.

CAPITAL MARKETS-

ADX, Adib Securities to develop new digital onboarding platform for investors: Abu Dhabi Securities Exchange (ADX) inked an MoU with Abu Dhabi Islamic Bank’s (Adib) brokerage, Adib Securities, to develop a new digital onboarding platform for investors, Wam reports. The platform will integrate the process of obtaining a National Investor Number and accessing trading account APIs directly within Adib Securities' mobile app, eliminating the need for manual paperwork. The initiative aims to enhance investor access to ADX-listed companies.

LOGISTICS-

#1- DHL Supply Chains expands to UAE: Freight forwarding giant DHL is launching DHL Supply Chain in the UAE through a strategic transfer of specific business operations from DHL Global Forwarding, according to a statement. DHL will offer warehousing, fulfillment, and aftermarket services and is targeting industries including tech, automotive, aviation, energy, manufacturing and e-commerce.

#2- DP World has taken delivery of 47k branded TEUs, according to a statement, saying the new containers will allow it to be more flexible in reacting to changes in demand across the supply chain.

CONSTRUCTION-

Dubai-based real estate developer Source of Fate Properties broke ground on its luxury residential project Sunshine Bay on Ras Al Khaimah’s Al Marjan Island, according to a press release. The 12-storey, 240-unit development is slated for completion in 2027.

Source of Fate has more in the pipeline: The company has a pipeline worth over AED 10 bn, with plans to roll out five new projects — two in Dubai and three on Al Marjan Island. Source of Fate said the new projects will be unveiled over the next 12 months.

ENTERTAINMENT-

Expo City Dubai will work with Ticketmaster to increase the international reach of Expo City’s events, Wam reports. Ticketmaster will streamline Expo City’s ticketing, starting from the entertainment events for Al Wasl Weekends on 1 November.

Amid rising interest rates, Middle East sustainable bond issuance drop in 9M 2024

Sustainable bond issuance across the Middle East declined 18% y-o-y to USD 16.7 bn in 9M 2024, according to an S&P Global report (pdf). The market’s cooling reflects a normalization following COP28’s momentum in late 2023, while other factors such as inflation, interest rates, and economic growth all impact demand for the notes. Meanwhile, funding and regulation can also be affected by “transparency and disclosure within ESG reporting [which] are in the early stages of development.”

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

The Middle East’s sustainable bond issuances accounted for 2.2% of global sustainable bond issuance in 9M 2024, down from 2.6% during the same period in 2023.

Although issuances have slowed, sustainable bonds account for a larger share of the region’s bond market than the global average. In the Middle East, sustainable bond issuances account for 15-20% of total bond issuances (excluding sovereigns and private placements), coming in above the 12-14% global average.

Sustainable sukuk issuances accounted for 35-40% of all issuances in the region so far this year, up from 25-30% in 2023. Total sustainable sukuk issuances in the region remained basically unchanged at USD 6.1 bn in 9M 2024, in the face of a global 11% y-o-y decline to USD 7.1 bn. Saudi Arabia dethroned the UAE as the largest issuer of this type of issuances in 9M this year, compared to the same period in 2023.

Saudi Arabia and the UAE are leading the market, accounting for 60% of sustainable bond issuances in the region, with Qatar also making strides this year, including recording the region’s largest issuance in 2024 so far with the sale of a USD 1.5 bn sovereign green bond sale in 2Q 2024.

Financial institutions are the most prevalent issuer in the region, while issuances by state-owned corporates are down 45% in 9M 2024 on an annual basis. “In the UAE, the financial sector has pledged to mobilize AED 1 tn (USD 272 bn) in sustainable finance by 2030,” the report says.

The implementation of net-zero policies could drive more issuances: Stakeholders will need to move swiftly towards net-zero policies, along with a stronger focus on sustainability strategies, as well as new regulations for sustainable bond issuances to gain better traction.

The composition of sustainable bond issuances is changing: Whereas sustainable bond issuances in 2023 were primarily green bonds, this year saw growth in “sustainability issuances (including funding social projects),” the report says. The shift is largely driven by financial institutions, which are incorporating social elements into their projects to align with broader sector objectives. Common social initiatives include improving access to essential services, supporting affordable housing, and creating jobs through investments in SMEs.

Globally, it’s a bit of a different picture: Although green bonds continued to be a fixture of the region’s debt market “given the exposure to hydrocarbons,” they account for a far smaller share of sustainable bond issuances this year than the global average. On a global scale, green bonds still make up around 60% of sustainable bonds.

MARKETS THIS MORNING-

The Shanghai Composite, Hang Seng, and ASX 200 are all up in early trading this morning, boosted by yet another record close for the Dow yesterday. Only the Nikkei (-0.5%) is bucking the trend.

Futures suggest major Wall Street and European benchmarks could see a bit of selling pressure at the opening bell later today.

ADX	9,306	+0.2% (YTD: -2.8%)
DFM	4,485	+0.4% (YTD: +10.5%)
Nasdaq Dubai UAE20	3819	+0.8% (YTD: -0.6%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	4.8% o/n	4.2% 1 yr
TASI	12,039	+0.3% (YTD: +0.6%)
EGX30	30,545	-0.1% (YTD: +22.7%)
S&P 500	5,821	+0.1% (YTD: +21.8%)
FTSE 100	8,329	+1.0% (YTD: +7.7%)
Euro Stoxx 50	4,909	-0.8% (YTD: +8.6%)
Brent crude	USD 74.48	+0.3%
Natural gas (Nymex)	USD 2.37	-5.2%
Gold	USD 2,691	+0.5%
BTC	USD 67,552	+1.6% (YTD: +59.9%)

THE CLOSING BELL-

The ADX rose 0.2% yesterday on turnover of AED 1.21 bn. The index is down 2.8% YTD.

In the green: Gulf Pharmaceutical Industries (+15%), Emsteel Building Materials (+4.7%) and Hayah Ins. Company (+4.7%).

In the red: Agility Global (-3.2%), Phoenix Group (-3.2%) and Chimera (-2.6%).

Over on the DFM, the index rose 0.4% on turnover of AED 293.0 mn. Meanwhile Nasdaq Dubai closed up 0.8%.

CALENDAR

OCTOBER

14-18 October (Monday-Friday): IEEE/RSJ International Conference on Intelligent Robots and Systems, Adnec Centre, Abu Dhabi.

14-18 October (Monday-Friday): Gitex Global, Dubai World Trade Centre and Dubai Harbour.

15-16 October (Tuesday-Wednesday): SuperBridge Summit 2024, Dubai World Trade Centre, Dubai.

16 October (Wednesday): ADNH Catering’s final share price to be announced.

16 October - 11 May: Global Village Season 29, Dubai.

18-19 October (Friday-Saturday): World Biohack Summit 2024, JW Marriott, Dubai Marina.

20-23 October (Sunday-Wednesday): The International Congress and Convention Association (ICCA) Congress, Abu Dhabi National Exhibition Centre, Abu Dhabi.

20-24 October (Sunday-Thursday): The NBE Egyptian Super Cup, Mohammed bin Zayed Stadium and Al Nahyan Stadium, Abu Dhabi.

21-22 October (Monday-Tuesday): Port Development MEA Forum, Dubai.

21-22 October (Monday-Tuesday): Roads, Bridges, Tunnels MENA Conference, Dubai.

21-22 October (Monday-Tuesday): The Alternative Investment Summit, Dubai.

23 October (Tuesday): ADNH Catering’s shares begin trading on ADX.

24 October (Thursday): Game Changers - Dubai Real Estate Summit, Coca-Cola Arena, Dubai.

24-27 October (Thursday-Sunday): International Sports Medicine Conference, Dubai.

26 October (Saturday): UFC 308: TOPURIA vs HOLLOWAY, Etihad Arena, Abu Dhabi.

26-27 October (Saturday-Sunday): International Conference on Tourism, Transport, and Logistics, Dubai.

27-30 October (Sunday-Wednesday): IEEE - International Conference on Image Processing, Adnec Centre, Abu Dhabi.

28-29 October (Monday-Tuesday): MENA Climate Proof Forum, Dubai.

29-31 October (Tuesday-Thursday): Sharjah International Conference in Biotechnology (SICBiotech), University of Sharjah.

29 October-2 November (Tuesday-Saturday): Abu Dhabi Early Childhood Week, Abu Dhabi.

30 October-1 November (Wednesday-Friday): World Cities Cultural Summit, Dubai.

30 October (Wednesday): Connected Construction Conference, Museum of the Future, Dubai.

30-31 October: Sixth edition of Binance Blockchain Week, Coca-Cola Arena, Dubai.

NOVEMBER

3-10 November (Sunday-Sunday): Dubai Premier Padel P1, Dubai Dutyfree Tennis Stadium, Dubai.

4-7 November (Monday-Thursday): Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC), Abu Dhabi.

4-7 November (Monday-Thursday): ADIPEC Maritime and Logistics Exhibition and Conference, Abu Dhabi.

4-7 November (Monday-Thursday): ADIPEC Decarbonisation Accelerator, Abu Dhabi.

5-7 November (Tuesday-Thursday): 2024 EMEA Stakeholder Conference, Dubai.

6 November (Friday): World Finance Forum, Dubai.

6-8 November (Friday-Sunday): UAE BioTech Symposium, Masdar City, Abu Dhabi.

6-17 November (Friday- Sunday) Sharjah International Book Fair, Expo Center Sharjah, Sharjah.

10 November (Sunday): American Boarding School Fair 2024, Grosvenor Hotel, Dubai Marina, Dubai.

11 November (Monday): Dubai Diamond Conference, Jafza One Convention Centre, Dubai.

11-12 November (Monday-Tuesday): META Cinema Forum, Dubai.

13 November (Wednesday): Registration deadline for Dubai Chamber of Digital Economy’s App Olympics.

13-14 November (Wednesday-Thursday): Lease Conference Dubai 2024, Jumeirah Creekside Hotel, Dubai.

15 November (Friday): Tax amendments that exempt crypto and investments through fund managers from VAT to take effect.

18-20 November (Monday-Wednesday): Fastmarkets Middle East Iron & Steel 2024, Dubai.

19-20 November (Tuesday-Wednesday): Dubai Future Forum.

20-22 November (Wednesday-Friday): Xpanse Abu Dhabi, Adnec Centre, Abu Dhabi

22-23 November (Friday-Saturday): Global Meet on Electronics & Electrical Engineering (GMEEE), Dubai.

22-24 November (Friday-Sunday): Michelin Guide Food Festival, Emirates Palace Mandarin Oriental, Abu Dhabi.

23 November (Saturday): Wireless Festival Middle East, Etihad Park, Abu Dhabi.

23-24 November (Saturday-Sunday): Emirates Dubai Sail Grand Prix, SailGP Race Stadium.

26-27 November (Tuesday-Wednesday) Global Food Security Summit, Adnec Centre Abu Dhabi.

26-28 November (Tuesday-Thursday) Global Media Congress 2024, Abu Dhabi National Exhibition Centre (ADNEC).

26-29 November (Tuesday-Friday): Big 5 Global, Dubai World Trade Centre.

26-27 November (Tuesday-Wednesday): Global Women’s Forum Dubai, Madinat Jumeirah, Dubai

27-28 November (Wednesday-Thursday): RAK Energy Summit, Al Hamra International Exhibition and Conference Centre, Ras Al Khaimah.

28 November-1 December (Thursday-Sunday): Spartan World Championship, Al Wathba Desert, Abu Dhabi.

30 November (Saturday): Football Legends Cup, Al Maktoum Stadium Al Nasr Sports Club, Dubai.

Signposted to happen ahead of ADIPEC:

Changemakers Majlis, Abu Dhabi.

DECEMBER

2-3 December (Monday-Tuesday): National Day, public holiday.

4-5 December (Wednesday-Thursday): Sport Impact Summit, The Palm, Dubai.

5-8 December (Thursday-Sunday): Formula 1 Etihad Airways Abu Dhabi Grand Prix, Yas Marina Circuit.

8-12 December (Sunday-Thursday): International Desalination and Reuse Association World Congress, Adnec Centre Abu Dhabi.

9-10 December (Monday-Tuesday): The Bitcoin Mena Conference, Adnec Centre Abu Dhabi.

9-12 December (Monday-ThursdayTuesday): Abu Dhabi Finance Week, Abu Dhabi.

9-12 December (Monday-Thursday): World Conference on Desalination and Water Re-use 2024, Adnec Centre, Abu Dhabi.

9-12 December (Monday-Thursday): IEEE International Conference on Data Mining 2024, Adnec Centre, Abu Dhabi.

10-12 December (Tuesday-Thursday): Middle East Investor Relations Association (MEIRA Conference), Conrad Abu Dhabi Etihad Towers Hotel, Abu Dhabi.

10-12 December (Tuesday-Thursday): The Middle East and North Africa Business Aviation Association Show, Al Maktoum International Airport, Dubai.

11-13 December (Wednesday-Friday): European-Arab Medical Congress, Abu Dhabi.

14-21 December (Saturday-Saturday): World Schools Festival, Abu Dhabi

16-20 December (Monday-Friday): AIMS Conference 2024, Adnec Centre, Abu Dhabi.

6 December-12 January: Dubai Shopping Festival.

Signposted to happen sometime in December:

UAE-China Summit, Abu Dhabi.
Abu Dhabi Forum for Peace, Abu Dhabi.

JANUARY 2025

1 January (Wednesday): ADGM to slash licensing fees for retail and non-financial firms, and hike fees for finance firms.

9-13 January (Thursday-Monday): International Renewable Energy Agency Youth Forum, Abu Dhabi.

11-13 January (Saturday-Monday): International Renewable Energy Agency Assembly, Abu Dhabi.

14-16 January (Tuesday-Thursday): World Energy Summit, Abu Dhabi.

14-16 January (Tuesday- Thursday): The Light + Intelligent Building Middle East exhibition, Dubai.

20-22 January (Saturday-Monday): FESPA Middle East, Dubai World Trade Centre, Dubai.

FEBRUARY 2025

1-8 February (Saturday-Saturday): The Mubadala Abu Dhabi Open, Zayed Sports City's International Tennis Centre.

2-3 February (Sunday-Monday): L’Etape Dubai cycling race, Dubai.

3-6 February (Monday-Thursday): Medlab Middle East, Dubai World Trade Center.

16 February-1 March: Dubai Dutyfree Tennis Championships, Dubai Dutyfree Tennis Stadium in Al Garhoud.

24-25 February (Monday-Tuesday): World Passenger Experience Forum, Dubai.

24-26 February (Monday-Wednesday): Connecting Hydrogen MENA, Dubai.

Signposted to happen sometime in 1Q 2025:

The first eight fronds of the Palm Jebel Ali will be site-ready, allowing for the commencement of villa infrastructure and civil works.

APRIL 2025

6-11 April (Sunday-Friday): Geo-Spatial Week 2025, Dubai.

7-10 April 2025 (Monday-Thursday) : EFG Hermes One on One conference, Dubai.

7-9 April (Monday-Wednesday): AIM Investment Summit, Abu Dhabi National Exhibition Center

14-16 April (Monday-Wednesday): Dubai Woodshow’s 21st Edition, Dubai World Trade Center

14-16 April (Monday-Wednesday): IPS congress, Dubai World Trade Center.

16-18 April (Wednesday-Friday): World Future Energy Summit,Abu Dhabi National Exhibition, Abu Dhabi.

28 April-1 May (Monday-Thursday): The Arabian Travel Market 2025, Dubai World Trade Center

Signposted to happen sometime in April:

Abu Dhabi Autonomous Racing League, Yas Marina Circuit in Abu Dhabi

MAY 2025

6-7 May (Tuesday-Wednesday): Global Ports Forum, Dubai.

26-28 May (Monday-Wednesday): Arab Media Summit, World Trade Center, Dubai.

OCTOBER 2025

27-29 October (Monday-Wednesday): Asia Pacific Cities Summit, Dubai Exhibition Center.

Signposted to happen sometime in 2025:

The Middle East Electric Vehicle Show, Expo Center Sharjah.
e& will complete Adnoc’s private 5G network.
Executive Committee Meeting (EXCOM 2025) conference of the World Smart Sustainable Cities Organisation (WeGO)
The International Civil Aviation Organization’s Global Implementation Support Symposium, Abu Dhabi.

Signposted to happen sometime in the fall of 2025:

2025 Games of the Future, Dubai.

Signposted to happen sometime in 2026:

The UAE to host the Arab Competition Forum
Dubai to host the Arab Actuarial Conference
United Nations Water Conference 2026, UAE

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