Mubadala snaps up UCB unit in China

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WHAT WE’RE TRACKING TODAY

THIS MORNING: New cold call regulations come into effect

Good morning, friends. The news cycle remains relatively quiet compared to UAE standards, but we don’t expect that to last too long with September on its way.

THE BIG STORY here at home is Mubadala’s USD 680 mn acquisition of biopharma firm UCB’s neurology and allergy business in China — part of an ongoing expansion of investments in Asia.

HAPPENING TODAY-

Starting today, cold callers will need to be careful with how and when they make telemarketing calls, as recently introduced Telecommunications and Digital Government Regulatory Authority guidelines come into effect. Unlicensed cold calling activity and telemarketers who repeatedly call uninterested customers will face fines of up to AED 150k.

WEATHER- The mercury peaks at 40°C in Dubai, before cooling to an overnight low of 33°C. Over in Abu Dhabi, the hottest it will get will be 35°C, with an overnight low of 33°C.

PSA-

Dubai to launch four new metro link bus routes, tweak existing ones: Dubai’s Roads and Transport Authority (RTA) plans to launch four new metro link bus routes and modify some existing routes on 30 August, according to Dubai’s media office.

The new routes:

The new F39 route will run between Etisalat Bus Station and Oud Al Muteena Roundabout Bus Stop 1.
Route F40 will operate between Etisalat Bus Station and Mirdif, Street 78.
Route F58 will run between Al Khail Metro Station and Dubai Internet City.
Route F59 will operate between Dubai Internet City Metro Station and Dubai Knowledge Village.

HAPPENING THIS WEEK-

New fuel prices coming this week: Fuel prices for September are set to be announced by the UAE government this week. August saw a hike in fuel prices, after most of them dropped for two consecutive months.

UPDATE-

Dubai-based Telegram’s founder and CEO — and Emirati citizen — Pavel Durov’s arrestin France is due to allegations that the messaging app failed to combat the spread of multiple crimes including drug trafficking and child abuse, Reuters quotes French prosecutors as saying. Durov is currently being interrogated, after his detention was extended from 24 to up to 96 hours, Bloomberg reports.

The UAE said it is “closely following” Durov’s case and is working to provide him with consulary services, Wam reports.

Market reax: Toncoin, the token of Telegram’s blockchain platform The Open Network, slid more than 20% after Pavel Durov was taken into custody.

DATA POINTS-

#1- The government collected some AED 15.3 bn in corporate tax revenues from companies making more than AED 375k in annual income in 1H 2024, Al Khaleej reported, citing data it gathered. Listed companies saw their net income hit a total of AED 117 bn in 1H 2024 after the 9% tax. The tax regulation, which imposes a 9% tax rate on said companies, was first introduced in mid-2023.

#2- The digital value-added tax (VAT) refund platform processed 2.7 mn requests from tourists in 1H 2024, up from 2.55 mn in the same period last year, Wam reported, citing figures from the Federal Tax Authority. The digital VAT refund service for tourists has logged a total of 19.67 mn requests since its inception in 2022.

THE BIG STORY ABROAD-

The international business press can’t agree on a story with which to lead this morning’s front pages, giving us instead a rather mixed bag. Among the stories and headlines getting top billing:

#1- Russia launched a barrage of missiles at Ukraine, targeting the country’s energy and water infrastructure in what Kyiv said appears to be a tactic from Moscow to hit water and heating infrastructure ahead of the winter months. The missile attacks from Russia come after Ukraine’s invasion of Russia’s western Kursk region this month, which marked a significant victory for Ukraine 2.5 years into their war. (Reuters | Bloomberg | New York Times)

#2- Skydance looks set to acquire Paramount after American businessman Edgar Bronfman Jr. decided to drop a bid to buy the studio. Bronfman — who previously served as CEO of Warner Music Group — raised doubts on his ability to secure the financing necessary for a USD 6 bn bid for Paramount before the deadline to submit a final offer tomorrow. The Wall Street Journal and CNBC have the story, and the New York Times also has more on Bronfman and the dynamics at play in the bidding dance.

ALSO- Apple is hosting a press event on 9 September, at which the company is expected to unveil new iPhone and Apple Watch models. Analysts don’t expect the upcoming iPhone 16 will be significantly different from its predecessor, save for redesigned cameras. (CNBC)

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CIRCLE YOUR CALENDAR-

du’s annual tech event Envision will take place on 5 September at the Atlantis the Royal in Dubai, the Emirati telecom company said in a statement picked up by Zawya. The event will host policymakers and industry leaders to explore the use of 5G, cloud, AI, and data analytics across various sectors, including manufacturing, healthcare, education, real estate, banking, transport, and agriculture.

The PPP MENA Forum will take place on 10-11 September at the Jumeirah Emirates Towers in Dubai. Sponsored by the Abu Dhabi Investment Office, the two-day event will bring together senior policymakers, investors, and business executives from the UAE, Saudi Arabia, Kuwait, and Oman to discuss the latest financial and regulatory developments in PPP frameworks and explore means to advance PPP initiatives in the region.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

Mubadala snaps up UCB’s neurology, allergy business in China for USD 680 mn

Mubadala + Singaporean CBC acquire UCB’s neurology and allergy business in China: Mubadala has acquired Belgian biopharma firm UCB ’s carved out neurology and allergy business in China in a transaction worth USD 680 mn alongside Singapore-based healthcare-focused asset manager CBC Group, according to a press release. The transaction is expected to be finalized by 4Q 2024.

What do Mubadala and CBC own now? The portfolio UCB sold to Mubadala and CBC includes drugs such as Keppra, Vimpat and Neupro, and anti-allergy medicines Zyrtec and. The transaction will also see the sovereign wealth fund acquire UCB’s manufacturing facility in the city of Zhuhai.

Mubadala wants to tap into China’s CNS medicine market + the wider Asian pharma market: “The central nervous system (CNS) is a large and growing therapeutic area in China that has an urgent clinical need,” the sovereign wealth fund’s head of healthcare Mina Hamoodi said in a separate press release. “We look forward to building out a broader CNS-focused platform to benefit the China market,” he added. Healthcare and pharma carve-outs are at the forefront of Mubadala’s investment strategy in Asia, the statement said.

The transaction will help UCB expand its offerings: UCB plans to launch new immunology, neurology, and rare disease medicines as the firm shifts its focus to “efforts on innovation and partnerships, ensuring that its strategic goals align with the evolving demands of the Chinese market,” the press release reads.

Mubadala and CBC are no strangers, and Mubadala is not new to the Chinese pharma market: Last October, the sovereign wealth fund participated in an USD 875 mn funding round for CBC’s life sciences real assets venture, CLSRA Venture I. Mubadala and CBC also teamed up to raise USD 315 mn in funding for Chinese biopharma firm Hasten in April 2023.

ADVISORS- PJT Partners acted as the financial advisor to Mubadala and CBC, while Clifford Chance served as the legal advisor. UCB appointed Lazard to act as financial advisor and Freshfields Bruckhaus Deringer to act as legal advisor.

IHC-backed Marlan sets up Middle East’s first mass satellite manufacturer with Loft Orbital

IHC-backed Marlan sets up satellite manufacturing JV in Abu Dhabi: Abu Dhabi-based space and deeptech investor and International Holding Company-backed Marlan and US-based startup Loft Orbital have set up a joint venture to mass manufacture satellites for the first time in the Middle East, according to a statement. IHC will pour an initial USD 100 mn investment into the JV, which is dubbed Orbitworks.

Ownership breakdown: While the exact size of the stake each company holds was not disclosed, TechCrunch reports that Marlan holds a majority stake in the JV. “Loft can work with any payload supplier, any bus or subsystem providers, any ground station provider, any cloud provider … We’re providing the JV the playbook for production, operations and technology for satellites,” Loft Orbital CEO Pierre-Damien Vaujour said.

Orbitworks aims to produce up to 50 satellites per year, with the hardware of the first ten already procured and the first of which can be launched as early as 1Q 2024. The company will operate from a 50k sqft facility in Abu Dhabi and the first satellite platform will be assembled and tested by early 2025.

The companies have already started recruiting talent in the UAE and internationally, focusing on hardware, software, test engineering, the statement said.

UAE companies are heavily investing in space projects: Al Yah Satellite Communications Company (Yahsat) launched the UAE’s first low orbit radar satellite this month. The company also will launch two new AED 3.9 bn satellites, Al Yah 4 and Al Yah 5, through SpaceX in 2027 and 2028.

Initial civil work and villa construction for Palm Jebel Ali to kick off in 1Q 2025

AED 810 mn contract awarded for Palm Jebel Ali marine works: Dubai Holding’s real estate arm Nakheel awarded a AED 810 mn contract to Jan de Nul Dredging for marine works and dredging at Palm Jebel Ali, according to a statement (pdf). Jan De Nul Dredging will be responsible for dredging, land reclamation, beach profiling and sand placement, paving the way for the construction of villas across all fronds.

The timeline: Jan De Nul Dredging is expected to finalize the project in just over two years. The first eight fronds of the project are expected to be site-ready by the first quarter of 2025, allowing for the commencement of villa infrastructure and civil works. The first 700 units of its phase one frond has already been launched and is slated for handover in late 2026, the statement said.

Background: Earlier in July, Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum approved the masterplan and architectural designs for the development of the Jebel Ali beach, set to become the city’s longest open public beach. Nakheel also handed out two construction contracts to DBB Contracting and Khansaheb Civil Engineering for the development of Palm Jebel Ali’s road infrastructure in May.

UAE’s real estate market to remain robust in 2H 2024 -Markaz

The UAE’s real estate market is expected to sustain its growth trajectory well into 2H 2024, backed by a resilient economy, supportive government policies, and growing demand, according to Kuwait Financial Centre’s (Markaz) latest report (pdf). The report cited the UAE’s revised golden visa requirements among the factors expected to boost the property sector and draw international investment to the country’s real estate.

How did the UAE fare on Markaz’s index? The Emirates maintained a score of 3.7 on the Markaz Real Estate Macro Index, reflecting a positive outlook for the year. With a top score of 5, the index uses key economic indicators, such as oil and non-oil GDP growth, inflation, and job creation, to gauge the state of the real estate market.

THE OFFICE MARKET-

Dubai and Abu Dhabi’s office markets are expected to heat up, driven by the surge in demand for premium properties, particularly from hedge funds and asset managers in Dubai and state-owned firms in Abu Dhabi, Markaz said. However, with a shortage in high-quality properties in the two emirates, developers are accelerating their existing and upcoming projects to meet the rise in demand.

More supply incoming? For the remainder of 2024, Dubai is set to add 46k units, while Abu Dhabi’s office space is expected to expand by 8.7k new units by year-end — though a large portion of these might not be realized as planned, Markaz cautioned.

ICYMI- Dubai’s office rental market remained tight in 2Q 2024, with rentals increasing despite a dip in average occupancy for grade A assets, according to CBRE. In Abu Dhabi, occupancy rates rose to 94.7%, with prime office rents up 9.1% y-o-y and Grade A rents up 7.4%. The limited new office supply led to a 38.4% spike in Dubai’s rental registrations and a 15.9% rise in Abu Dhabi’s, tipping the market in favor of landlords during 2Q 2024.

RESIDENTIAL-

Dubai’s residential market sales are poised to keep growing in 2024, albeit at a slower rate than 2023, fueled by strong demand for off-plan properties amid limited new supply.

Climbing rental rates are also expected to persist in the emirate as tenants opt to renew their existing leases to avoid the higher rates in Dubai’s prime areas.

In contrast, Abu Dhabi’s rental market is showing signs of cooling. With a 15.5% y-o-y drop in renewed contracts and new registrations falling 2.4% y-o-y in 1Q 2024, Markaz projects the rental moderation to continue throughout 2024 despite the market’s overall resilience.

ICYMI- Dubai’s residential market soared in 1H 2024, with prices jumping 21.3% y-o-y and rents rising 21.1% y-o-y, according to CBRE. Abu Dhabi saw more modest gains, with both apartment prices and rents increasing around 6% y-o-y. Property transactions in Dubai hit a new record in 2Q 2024, climbing to some 48k, according to Springfield.

RETAIL + HOSPITALITY-

Dubai’s retail property market continues to be buoyed by strong tourism activity, with a shortage in supply due in larger malls driving a shift from local Emirati brands towards smaller community malls.

ICYMI- CBRE had also said that Dubai and Abu Dhabi’s retail markets are experiencing a supply-demand imbalance, as more global brands set up shop in the emirates, making way for a more landlord-favored market.

The UAE’s hospitality sector is also steadily expanding, propelled by its “diverse calendar of global events and improved connectivity,” the report said. An additional 5k keys are slated to be added in Dubai in 2024, while Abu Dhabi is expected to roll out 500 keys.

Fast facts: Dubai saw 11 new hotels open in 1Q 2024, offering up nearly 2k new keys, and bringing the total number of hotels operating in the emirate to 832. The total number of hotel rooms offered in the emirate rose 1.2% y-o-y to 152.2k.

Powder Beauty secures pre-Series A funding to expand in the GCC region

UAE-based beauty products platform Powder Beauty secured an undisclosed pre-Series A funding round, led by women-focused investor Sophia Collective and a family office fund founded by the founders of Indian stock broker Zerodha, Wamda reported. The round also saw participation from several regional angel investors including Maha Taibah.

Where the money is going: The funding will be used to scale the startup’s operations in Saudi Arabia, launch new brands exclusive to the region, and expand its existing product lineup.

About the startup: Founded by Ayat Toufeeq (LinkedIn), Amina Grimen (LinkedIn), and Mariam Mossalli (LinkedIn) in 2018, Powder Beauty touts itself as the Middle East’s first female-owned and operated e-commerce platform to offer a range of clean, cruelty-free, and sustainable beauty brands.

Sobha Group has a new chairman

Sobha Group appointed its co-chairman Ravi Menon as chairman effective 18 November, after Sobha founder and chairman and Forbes-listed b’naire PNC Menon announced his resignation from the role, effective 18 November, according to a press release. Menon has over two decades of leadership experience.

What’s next? Sobha Realty managing director Francis Alfred will work closely with Menon to drive the company’s further growth, including plans for global expansion.

All eyes are still on Dubai’s booming property market

Bloomberg looks at the relative affordability of Dubai’s prime segment as a main attraction for investors in its latest edition of Mideast Money — with more and more m’naires flocking to the emirate. The emirate’s property market remains “competitively priced” compared to most global cities at USD 850 per sqft, the business information service cites an earlier Savills report as saying.

EV leasing company Volt signs USD 210 mn electric trucks order with Mullen Automotive

EVs-

Volt to acquire electric trucks from Mullen: UAE-based commercial leasing company Volt Mobility will purchase 3k electric cargo trucks and vans over a timeframe of 16 months for USD 210 mn from US-based EV manufacturer Mullen Automotive, according to a press release. Under the purchase agreement, Volt will make a USD 3 mn deposit within 60 days for Mullen’s Class One and Class Three models, with further payments made upon the delivery of the vehicles. The first batch of vehicles by Mullen are set to be delivered immediately, the statement said, without providing further details.

The details: Volt aims to lease these vehicles to corporate customers in the Middle East and the GCC region, including its clients UPS, DHL, and FedEx, according to the statement. Mullen's Mississippi facility — which can produce 20k Class 1 and 6k Class 3 vehicles annually — will assemble Volt's order to the region, it added.

REAL ESTATE-

#1- Ex-Emaar executive launches a new real estate player in Dubai: Former group CEO of Emaar Abdulla Lahej launched a new real estate company in Dubai dubbed Amaal, according to a statement picked up by Zawya. Amaal will be grouped under the conglomerate Ayana Holding, which is co-founded and chaired by Lahej.

#2- India’s L&T to supply MEP isolators for Azizi projects: Dubai’s real estate developer Azizi Developments has partnered with Indian conglomerate Larsen & Toubro (L&T) to procure MEP isolators for its projects, including Azizi Venice, Azizi Vista, Azizi Central, Riviera, and Creek Views III, according to a statement picked up by Zawya.

LOGISTICS-

#1- AD Ports, Tasneef open two offices in Kuwait: AD Ports Group inaugurated its Safeen Kuwait office in Kuwait, while Emirates Classification Society (Tasneef) opened a Tasneef Maritime office, to ramp up maritime cooperation and improve trade and logistics services in the region, Kuwaiti news agency Kuna reports. The Safeen Office is the first for AD Ports in the GCC, while the Tasneef office is its second outside of the UAE, other than Indonesia.

#2- A new veterinary quarantine facility was inaugurated at Abu Dhabi’s Khalifa Port by the Abu Dhabi Agriculture and Food Safety Authority, AD Ports Group, and Abu Dhabi Projects and Infrastructure Centre, the Abu Dhabi Media Office said. The facility was launched to support local and international companies working in the live animal trade by facilitating the import and re-export of livestock.

CRYPTO-

CoinMENA taps Austria’s Bitpanda to add more crypto assets to its trading platform: Crypto assets trading platform CoinMENA tapped Austrian digital assets infrastructure provider Bitpanda Technology Solutions as a liquidity provider to help boost trading efficiency and expand the range of crypto assets offered on the platform, according to a statement picked up by Zawya.

AVIATION

Animawings adds two non-stop flights between Bucharest and Dubai: Romanian airline Animawings will launch a new route connecting the Romanian capital Bucharest to Dubai on 27 December, with two direct flights a week, according to news reports (here and here).

Election uncertainty make investment managers wary of pouring cash into infrastructure projects

Turbulent times in infrastructure spending: Fund managers have expressed concerns over pouring funds in infrastructure projects due to “uncertainty over the outlook for green energy subsidies and tariffs, ahead of a US presidential election,” according to the Financial Times.

The why: Republican candidate Donald Trump’s return to office could possibly mean bidding farewell to incentives for domestic industry and clean tech under the Biden administration’s Inflation Reduction Act. This has put funds in a position where they can’t accurately cost or price a project. “We have to be more cautious over the next 12 months on committing to projects. There’s a bit of a stalling of momentum until we have more certainty around costs,” saud Quinbrook Infrastructure Partners Co-founder David Scaysbrook.

What’s next? Some asset managers expect a pick up in investment activity following election results in November, with the demand and need being there, while others expect some pullback.

Despite all this, investors continue to have an appetite for infrastructure funds: North American infrastructure funds raised some USD 10 bn during the first half of the year, a 150% y-o-y increase, in addition to another USD 7 bn raised between July and August. Investor appetite is expected to continue and even rise as fund managers view the funds as a safe haven for investors looking to put their funds in high-yielding assets ahead of upcoming rate cuts.

MARKETS THIS MORNING-

Asian markets are in the red in early trading this morning, as traders react to US big tech stocks falling the day before as Western markets get ready for Nvidia earnings out Wednesday. Japan’s Nikkei is down 0.3%, Korea’s Kospi is down 0.5%, and China’s Hang Seng is down 0.9%.

ADX	9,356	-0.2% (YTD: -2.3%)
DFM	4,325	+0.8% (YTD: +6.5%)
Nasdaq Dubai UAE20	3763.8	+0.4% (YTD: -2.0%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	5.0% o/n	4.5% 1 yr
TASI	12,261	0.0% (YTD: +2.5%)
EGX30	30,134	+0.2% (YTD: +21.1%)
S&P 500	5,617	-0.3% (YTD: +17.8%)
FTSE 100	8,328	+0.5% (YTD: +10.8%)
Euro Stoxx 50	4,897	-0.3% (YTD: +8.3%)
Brent crude	USD 81.43	+3.1%
Natural gas (Nymex)	USD 1.97	+0.9%
Gold	USD 2,553.50	+0.3%
BTC	USD 63,414.90	-1.2% (YTD: +50.2%)

THE CLOSING BELL-

The DFM rose 0.8% yesterday on turnover of AED 292.1 mn. The index is up 6.5% YTD.

In the green: Amanat Holdings (+6.3%), Commercial Bank of Dubai (+3.3%) and Dubai Financial Market (+3.2%).

In the red: National International Holding Company (-9.5%), AL Salam Sudan (-4%) and Taaleem Holdings (-1.7%).

Over on the ADX, the index fell 0.2% on turnover of 1.06 bn. Meanwhile, Nasdaq Dubai rose 0.4%

CORPORATE ACTIONS-

The National Investor’s planned AED 50 mn capital reduction, initially scheduled for yesterday, has been delayed due to pending approval from the economy ministry, according to an ADX disclosure (pdf). The company affirmed that the process is ongoing and the distribution of the value of canceled shares will proceed once it secures the ministry’s approval.

Background: Last month, the company obtained shareholder approval to bring its share capital down by canceling 50 mn shares with a book value of AED 50 mn — reducing its share capital to AED 235 mn from AED 285 mn, with the AED 50 mn initially scheduled to be returned to shareholders on 26 August.

UAE, Vietnam eye more trade and cooperation in transport, energy + FM explores renewable energy cooperation with Croatian PM

UAE, Vietnam discuss boosting trade and investment: Foreign Trade Minister Thani Al Zeyoudi met with Vietnam's Prime Minister Pham Minh Chinh to ramp up bilateral trade and investment ties, focusing on renewable energy, logistics, manufacturing, technology, and agriculture, Wam reports.

Al Zeyoudi also discussed potential joint ventures in agriculture and other critical sectors — aligning with Vietnam’s pro-growth policies — as well as expanding non-oil trade, which reached USD 6.1 bn in 1H 2024 with trade and Industry Minister Nguyễn Hồng Diên and deputy labor and agriculture ministers.

REMEMBER- The two countries are finalizing terms of their trade and economic partnership agreement, which seeks to expand economic cooperation between the two countries.

UAE, Croatia talk boosting bilateral ties: Foreign Affairs Minister Sheikh Abdullah bin Zayed Al Nahyan met with Croatian Prime Minister Andrej Plenković and other officials to discuss ramping up cooperation in economic investment, renewable energy, and climate change, as well as other sectors of mutual interest, Wam reports. Plenković also revealed plans to open a UAE-based embassy to boost bilateral relations.

MoUs inked: The Interior Ministry inked an MoU with its Croatian counterpart related to exchanging driving licenses, while the Foreign Affairs Ministry and Croatia’s Foreign and European Affairs Ministry signed an agreement on political consultations.

CALENDAR

AUGUST

27 August (Tuesday): New regulations on telemarketing calls will go into effect.

28 August (Wednesday): Emirati Women and Future-Making conference.

SEPTEMBER

31 August - 8 September (Saturday-Sunday): Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX), Adnec Centre, Abu Dhabi.

4-5 September (Wednesday-Thursday): 2024 International Government Communication Forum, Expo Centre Sharjah, Sharjah.

5 September (Thursday): du’s Envision, Atlantis the Royal, Dubai.

5 September (Thursday): Deadline to apply for the sixth edition of Access Sharjah Challenge.

5 September (Thursday): Deadline to apply for Dubai Future Academy’s FEEL: A Disruptive Futures Program.

7-8 September (Saturday-Sunday): Binous Classic Bodybuilding Championship, DWTC, Dubai.

9-12 September (Monday-Thursday): The annual EFG Hermes London Conference.

10-11 September (Tuesday-Wednesday): MENA PPP forum, Jumeirah Emirates Towers, Dubai.

11-12 September (Wednesday-Thursday): Dubai AI & Web3 Festival, Madinat Jumeirah, Dubai.

16 September (Monday): HKMA–DFSA Climate Finance Conference, Hong Kong.

16-18 September (Monday-Wednesday): World Utilities Congress, Abu Dhabi.

16-20 September (Monday- Friday): Intelligent Transport Systems World Congress 2024, Dubai.

17-18 September (Tuesday-Wednesday): AI in oil and gas conference, Abu Dhabi.

18-19 September (Wednesday-Thursday): Sharjah Investment Forum, Jawaher Reception and Convention Centre, Sharjah.

15-19 September (Sunday-Thursday): Loop Beyond Borders, Abu Dhabi.

19-20 September (Thursday-Friday): Healthcare Leaders Summit 2024, St. Regis Saadiyat Island Resort, Abu Dhabi.

23-25 September (Monday-Wednesday): WorldFreezonesOrganization’s Annual International Conference and Exhibition, Dubai.

24-26 September (Tuesday-Thursday): Careers UAE 2024, Dubai World Trade Centre, Dubai.

25-26 September (Wednesday-Thursday): Green Steel Summit, Dubai, UAE.

25-26 September (Wednesday-Thursday): Global Aerospace Summit, Abu Dhabi, UAE.

28-30 September (Saturday-Monday): World Association of Nuclear Operators (WANO) Biennial General Meeting, Abu Dhabi.

30 September (Monday): Dubai Podfest, World Trade Center, Dubai.

OCTOBER

1-3 October (Tuesday-Thursday): Water, Energy and Environment Technology Exhibition, Dubai.

2-3 October (Wednesday-Thursday): The World Green Economy Summit, World Trade Center Dubai.

2-3 October (Wednesday-Thursday): MENA District Cooling Projects & MENA Cool Forum, Grand Hyatt Dubai, Dubai Healthcare City, Dubai.

7-8 October (Monday-Tuesday): Forex expo, World Trade Center, Dubai.

8-9 October (Tuesday-Wednesday)): Global Trade and Supply Chain Summit, Dubai.

8-10 October (Tuesday-Thursday): The Global Rail Transport Infrastructure Exhibition and Conference(Global Rail), Abu Dhabi.

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

13-16 October (Sunday-Wednesday): Expand North Star, Dubai Harbour.

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

14 October (Monday): The Smart Cities MENA Summit, Dubai.

15 October (Tuesday): Deadline for the European Commission to make a decision on its probe into e&’s acquisition of PPF’s Eastern European assets.

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.

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.

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

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

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

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

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

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

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.

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

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

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

Signposted to happen ahead of ADIPEC:

Changemakers Majlis, Abu Dhabi.

DECEMBER

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

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.

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

Signposted to happen sometime in December:

UAE-China Summit, Abu Dhabi.

JANUARY 2025

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

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

FEBRUARY 2025

24-25 February (Monday-Tuesday): 3rd 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.

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 Centre, Dubai.

JUNE 2025

3-4 June (Tuesday-Wednesday): Make-A-Wish International’s Global Wish summit, Abu Dhabi.

OCTOBER 2025

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

Signposted to happen sometime in 2025:

TBD: The Middle East Electric Vehicle Show, Expo Center Sharjah.
TBD: e& will complete Adnoc’s private 5G network.

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

Signposted to happen sometime in 2028:

Abu Dhabi to host the Chess Olympiad.

Signposted to happen sometime in 2029:

Dubai to host the International Conference on Computer Vision.

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