Residential property price growth eased slightly in 2Q

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WHAT WE’RE TRACKING TODAY

THIS MORNING: New Emirates Road upgrade to cut Dubai-Ras Al Khaimah travel time + Dubai approves autonomous heavy vehicle regulations

Good morning, friends, and welcome to the final few days of September. It’s a quiet morning in the press, as is usual for Mondays, but we have a roundup of the UAE’s banking sector earnings in 2Q, courtesy of Alvarez and Mersal, showing that profitability remained flat during the quarter. We also have data from Digital Dubai on property price growth across residential and commercial segments in 2Q 2025 — and, no surprise there, prices continued to grow — though residential prices eased slightly from growth in 1Q.

Plus: Global South Utilities launched a 50 MW solar plant in Chad.

ALSO- President meets OpenAI CEO: President Mohamed bin Zayed met OpenAI CEO Sam Altman in Abu Dhabi to discuss potential cooperation in AI research and applications, Wam reports. Altman also received an honorary doctorate from the Mohamed bin Zayed University of Artificial Intelligence for his role in advancing the field.

REMEMBER- OpenAI is partnering with Abu Dhabi’s G42 to lead the development of one of the world’s biggest AI campuses outside America in Abu Dhabi, after the UAE and US signed a pact in May. Abu Dhabi’s MGX invested in OpenAI through its USD 6.6 bn funding raise last year. The Emirates has been pouring USD bns into AI recently, rolling out a new Arabic-language model and planning Europe’s largest AI data center.

The story got ink from Reuters.

WEATHER- Dubai will see a high of 37°C and a low of 30°C, while in Abu Dhabi, the mercury peaks at 38°C with an overnight low of 29°C. Both emirates are set for a humid night.

WATCH THIS SPACE-

#1- 45% less time on Dubai-Ras Al Khaimah road with new Emirates Road upgrade: The Energy and Infrastructure Ministry has launched a new AED 750 mn Emirates Road enhancement and upgrade project, set to be implemented over two years, state news agency Wam reports. The project is set to cut travel times by up to 45% between Ras Al Khaimah and Dubai, reducing traffic congestion and streamlining the flow of goods and services between the emirates.

The breakdown: The road is slated to expand from three to five lanes in each direction over a 25-km distance — from Al Badee Interchange to Umm Al Quwain — increasing the road’s capacity by 65% to 9k vehicles per hour. The project will also develop six directional bridges, spanning some 12.6 km with capacity for 13.2k vehicles per hour, along with 3.4 km of service roads on both sides of the main road.

#2- RTA approves regulatory framework for autonomous heavy vehicles: Dubai’s Roads and Transport Authority (RTA) approved a regulatory framework for autonomous heavy vehicles for logistics transport in Dubai, encompassing licensing, operational trials, vehicle requirements, and safety protocols, according to a statement.

REMEMBER- Abu Dhabi is also making headway in the introduction of autonomous delivery vehicles, with the launch of its first pilot program for autonomous delivery vehicles earlier this month. Abu Dhabi-based drone manufacturer Lodd Autonomous is set to launch unmanned aerial vehicle parcel and cargo deliveries by 2H 2026 — with the first test flight scheduled in November. The emirate has already rolled out self-driving taxis in several areas, including Al Saadiyat and Yas Islands.

Meanwhile, Dubai is also working on piloting autonomous driving, granting permits to Apollo Go, WeRide, and Pony.ai to host autonomous driving trials on Dubai’s roads, according to a statement. Pilot testing is reportedly taking place in Jumeirah and Dubai Silicon Oasis, with the emirate planning an automated transport zone dedicated to testing in order to evaluate how driverless taxis will operate on a large scale. The move is in line with the RTA’s roadmap to launch autonomous taxi services in Dubai and wider plans to convert 25% of all mobility journeys in the emirate into autonomous trips by 2030.

DATA POINTS-

#1- Dubai is now among the world’s top four cities for fintech, according to the latest Global Financial Centers Index (pdf). The emirate also ranked first globally among financial centers expected to become more significant. In the overall Global Financial Centres Index, it ranked in 11th place, and it took the top spot for the Middle East and Africa rankings, with Abu Dhabi following in second.

#2- The UAE’s banking has recorded the lowest net sentiment across the GCC region, battered mainly by operational weakness and drawbacks, according to PwC's banking sentiment index report (pdf). Meanwhile, Bahrain scored the highest score, boosted by reputational conversation related to awards, share sales, and mergers.

Key issues at home: The negative sentiment was mainly associated with late payments, account closures, technical problems, and perceived fraud, as well as delayed card deliveries.

Customer service topped the conversation in the UAE (64%) with net sentiment significantly negative at -85%, pointing to “major dissatisfaction and poor support experience.” Products came in second with sentiment also strongly negative at -73%.

Slow turnaround times were the main driver of negative customer experience across the GCC region, with customers flagging the issue of long delays in getting responses to their complaints, “often without any resolution or feedback,” according to the report. In the UAE, along with Saudi Arabia and Oman, the “no response” issue emerged as the primary driver of dissatisfaction. These delays were particularly problematic for transactions, perceived card service issues and the processing of transfers and payments.

#3- UAE tops Arab renewable energy investment over two decades: The UAE emerged as the Arab world’s largest investor in renewable energy between 2003 and 2024, Wam reports, citing Arab Investment and Export Credit Guarantee Corporation (Dhaman) data. The country accounted for 57 projects (16% of the regional total), with more than USD 88.5 bn (25%) in investments.

Infinity Power leads on capex: Infinity Power — a joint venture between renewables giant Masdar and Egypt’s Infinity — ranked as the single largest investor in the region’s renewable energy sector by project value, contributing USD 34 bn, or 10% of total foreign investment.

HAPPENING TODAY-

The Abu Dhabi Securities Exchange’s (ADX) Global Investor Roadshow and Conference kicks off today and runs until tomorrow in New York, held in partnership with Morgan Stanley, Wam reports. ADX Chairman Ghannam Almazrouei and CEO Abdulla Alnuaimi are leading a delegation of 15 listed companies — together worth over USD 300 bn — for meetings with global asset managers, hedge funds, and institutional investors.

HAPPENING THIS WEEK-

#1- MENA Investment Congress (MENA Icon) is starting tomorrow and running until Wednesday at Rosewood Hotel Abu Abu Dhabi. The event will bring together regional and international investors, asset managers, and policymakers to discuss capital markets, portfolio strategies, and regional growth prospects. Speakers include hedge fund manager Ray Dalio, Apex Group’s Chief AI and Data Science Officer Helen Wang, and early stage investor Hamza Khushaim.

#2- The Global Rail Transport Infrastructure Exhibition and Conference will run from tomorrow until Thursday at the Adnec Centre Abu Dhabi. The conference will gather industry leaders, government officials, and operators to discuss rail technologies and network expansion.

#3- The Water, Energy, Technology, and Environment Exhibition (Wetex) is also on from tomorrow until Thursday at the Dubai World Trade Center. The exhibition will showcase innovations in clean energy, water, and sustainability, and host panels on the energy transition and climate action.

#4- The Africa Debate Conference will take place tomorrow at the Address Sky View Hotel in Dubai. Policymakers and business leaders will meet to discuss Africa’s role in global trade and investment, with a focus on economic partnerships and future growth.

#5- Dubai Podfest is taking place tomorrow at the Ritz Carlton in Dubai. The gathering will bring together creators, media professionals, and industry players to discuss trends in podcasting and digital audio.

#6- The World Green Economy Summit (WGES) is running from Wednesday to Friday this week at the Dubai World Trade Center. Organized by the World Green Economy Organization — in partnership with Dubai’s Electricity and Water Authority and Supreme Council of Energy — the global summit focuses on green economy, sustainability, and climate action. The forum convenes policy makers, business leaders, academics, and civil society to discuss climate solutions and sustainable economic models.

#7- The Zawya GCC Capital Markets Forum will take place on Thursday at the Fairmont in Dubai. The forum will bring together GCC corporates from traditional wealth exporters to growing capital market participants to address how capital markets are evolving, as well as their surrounding macro environment. The forum will feature C-suite speakers from banks and leading financial institutions including HSBC, Standard Chartered Bank, Emirates NBD, and EFG Hermes.

THE BIG STORY ABROAD-

It’s a quiet Monday morning in the global business press, with no single story dominating the headlines. Among those receiving attention:

#1- Trump is optimistic about his plans to end the war in Gaza, ahead of partaking in a meeting with Israeli Prime Minister Benjamin Netanyahu today. Trump told Reuters he’s had a “very good response” from regional leaders and that “everybody” wants to reach an agreement. Trump’s 21-point proposal centers on halting Israeli strikes and opening a new dialogue between Israel and the Palestinians under a “peaceful coexistence” framework. It calls for the release of all Israeli hostages — living or dead — and would bar further Israeli attacks on Qatar. (Financial Times | Axios | Washington Post | The Guardian)

#2- The region could stand to gain from Trump’s new H-1B visa fees: The Middle East could be the biggest winner from Trump’s plan to slap a USD 100k fee on H-1B visas, with Gulf states already trying to position themselves as an AI hub, potentially luring in tech talent, write CNBC. Saudi Arabia and the UAE are already offering top-tier pay, long-term golden visas, and a business-friendly environment — positioning themselves as an attractive alternative just as US policy tightens.

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PSA-

Emiratis can now enter Trinidad and Tobago without a visa: Foreign Affairs Minister Abdullah bin Zayed Al Nahyan signed an agreement with Trinidadian Prime Minister Kamla Persad-Bissessar and Foreign and Caricom Affairs Minister Sean Sobers to allow Emiratis entry to Trinidad and Tobago without a visa, while Trinidadian citizens holding diplomatic and official passports are granted no-visa access to the UAE, state news agency Wam reports.

OIL WATCH-

Opec+ will potentially agree on a modest production hike of about 137k bbl / d for November at its meeting on Sunday, 5 October, Bloomberg reported on Friday, citing a survey of oil traders and analysts. The cartel has been increasing production quotas since April, adding some 2.5 mn bbl / d in total, and will continue monthly hikes through September 2026, fast-tracking the return of 1.65 mn bbl / d that was previously set to stay offline until end-2026.

CIRCLE YOUR CALENDAR-

The UAE Federal National Council’s (FNC) Legislative Parliamentary Forum will take place on Tuesday, 7 October at the FNC headquarters in Abu Dhabi, state news agency Wam reports. The event will gather legislative council representatives from the GCC, local authorities, academics, and executives in artificial intelligence (AI) to discuss AI policymaking and address challenges in implementing AI-related laws.

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

Residential property prices eased slightly in 2Q q-o-q, while commercial prices grew at a faster pace -Digital Dubai

Both residential and commercial property prices continued to grow in 2Q 2025, with residential properties’ price growth easing slightly from 1Q 2025 and commercial prices seeing a faster pace of growth, according to data from Digital Dubai.

The general residential property price index rose around 11% y-o-y in 2Q 2025, easing slightly from 12% in 1Q, according to the data (pdf).

Villas are seeing the biggest price growth, up 18.3% y-o-y in 2Q, after a 19.7% jump in 1Q. Apartments, which accounted for nearly three-quarters of the index, recorded a growth in prices of 7.6% y-o-y in 2Q, down from 8.5% in 1Q. On a quarterly basis, villa prices grew 5.3%, up from 2.4% in 1Q, while apartment price growth slowed to 0.4% from 3.8%, according to quarterly data (pdf).

The headline commercial property index rose 10.19% y-o-y in 2Q 2025, faster than the 8.35% growth in 1Q, according to separate data (pdf). Offices led price growth with a 15.81% increase, while hotel apartment prices grew at a 9.45% clip, and shop prices rose 7.99%, compared to a 22.5% jump the year before.

On a quarterly basis, prices grew 2.2% q-o-q in 2Q 2025, reversing a 0.8% contraction in 1Q, according to quarterly data (pdf). Offices and shops together rose 3.24% q-o-q. Shops swung to a 7.3% quarterly drop after a 9.7% surge in 1Q, while offices rebounded 8.5% after a 4.8% fall. Meanwhile, both hotel apartments and hotel rooms were up 1.1%.

Abu Dhabi’s GSU inaugurates Chad’s first large-scale solar plant

Abu-Dhabi based Global South Utilities (GSU) has inaugurated the 50 MW Noor Chad solar plant in Chad’s capital N’Djamena — marking the country’s first utility-scale solar facility, Wam reports. The project, which also includes a 5 MWh battery energy storage system, will supply clean energy to an estimated 274k homes and offset more than 1.36 mn tons of carbon dioxide, providing a boost to Chad’s underdeveloped electricity sector and cutting reliance on imported diesel.

GSU is on a mission in Africa: The company has inked two agreements with Madagascar’s Energy and Hydrocarbons Ministry in July to set up a 50 MW solar plant with 25 MWh of battery storage capacity in the city of Moramanga, and develop a wider pipeline of renewable projects with a combined capacity of up to 250 MW. GSU also started construction on a 50 MW solar power plant coupled with a 10 MWh battery energy storage system in Central African Republic back in August.

Its Asia footprint is expanding too: Earlier this month, GSU commissioned its Shabwah Solar Power Plant in Yemen, with a current capacity of 53 MW and 15 MWh battery energy storage system, generating 118.6k MWh of clean electricity annually. The company also plans to expand Yemen’s Aden Solar Power Plant — now in its second phase after being initially set up last month, and ultimately slated for a 240 MW capacity. GSU also acquired a 51% stake in Uzbek solar project developer Yashil Energiya, the company’s first foray into the Commonwealth of Independent States region.

UAE’s top 10 banks post flat 2Q earnings as impairments offset stronger lending

The UAE’s 10 largest listed banks booked a combined net income of AED 22.2 bn in 2Q 2025, broadly flat from the previous quarter as a sharp rise in impairments offset stronger lending and operating income, according to Alvarez and Marsal’s UAE Banking Pulse report (pdf). Still, banks saw stable profitability, with a 4.1% quarterly rise in interest income, and robust activity from real estate segments.

REMEMBER- The Central Bank of the UAE left rates unchanged throughout 2Q, holding its base rate at 4.4% for a fifth straight meeting after cutting by 50 bps last September and by 25 bps each in November and December, in step with the US Federal Reserve. It only shifted earlier this month, trimming rates by 25 bps to 4.15% following the Fed’s latest move.

Operating income rose 3.9% q-o-q. Net interest income edged up 1.3%, while other operating income jumped 19%. Fee and commission income dipped 4.6%, softening the top line.

Impairment charges surged 81% q-o-q to AED 2.9 bn, lifting the sector’s cost of risk to 0.51% from 0.29% in 1Q. The step-up in provisioning was another key drag on bottom-line growth, with operating expenses also rising by 1.6% q-o-q.

Lending momentum accelerated: Net loans and advances grew 5% q-o-q (vs. 3.6% in 1Q), led by corporate and wholesale (+6.9%) and retail (+4.4%). Abu Dhabi Islamic Bank (Adib), Dubai Islamic Bank (DIB), and our friends at Mashreq logged the fastest loan growth among major peers.

Funding expansion cooled: Deposits rose 2.8% q-o-q as both current and savings account growth slowed and time deposits contracted, pushing the loan-to-deposit ratio up 156 bps to 76.2% as lending outpaced deposit mobilization.

Margins compressed despite the pickup in lending. The aggregate net interest margin fell 9 bps to 2.43% as earlier rate cuts filtered through. Yield on credit and cost of funds were broadly stable on a quarterly basis.

Efficiency improved: The cost-to-income ratio fell 64 bps to 27.5% as income growth outpaced a 1.6% rise in expenses. Profitability ratios held up, with return on equity ticking up to 18.9% and return on assets easing slightly to 2.0%.

Asset quality strengthened: The sector-wide non-performing loan ratio fell 32 bps to 2.9%, while coverage improved nearly 100 bps to 111.1%. Stage 3 loans declined 5.1% q-o-q, led by sharper drops at First Abu Dhabi Bank (FAB) and Abu Dhabi Commercial Bank (ADCB).

A&M remains optimistic: The consultancy said UAE banks are well-positioned to navigate further rate cuts and macroeconomic headwinds, pointing to strong capital buffers, improved cost discipline, and healthier loan books. “UAE banks entered 2H 2025 from a position of strength,” A&M said.

The 10 largest banks by assets analyzed by the report are FAB (AED 1.3 tn), Emirates NBD (AED 1.1 tn), ADCB (AED 718.5 bn), DIB (AED 373.5 bn), our friends at Mashreq (AED 293.6 bn), Adib (AED 260.4 bn), Commercial Bank of Dubai (AED 150.6 bn), Rakbank (AED 95 bn), Sharjah Islamic Bank (AED 84.7 bn), and National Bank of Fujairah (AED 64.3 bn).

Al Ansari Exchange appoints Ali Al Najjar as CEO

Al Ansari Financial Services subsidiary Al Ansari Exchange has named Ali Al Najjar (LinkedIn) as its CEO, according to a press release. Al Najjar has been with the group for over 23 years, holding multiple senior leadership roles including COO, head of operations, and area manager for Dubai. He will now lead the company’s push to expand digital products and services.

K2 partners with Malaysia on AI development

TRANSPORT-

Abu Dhabi’s K2 partners with Malaysia to co-develop AI systems: Abu Dhabi’s autonomous tech firm K2 inked a letter of intent (LOI) with Malaysia’s Pahang Aerospace City and University Malaysia Pahang Al-Sultan Abdullah (UMPSA) to develop autonomous platforms with the goal of advancing public safety and smart mobility solutions, state news agency Wam reports.

BANKING-

#1- Canadian banking solutions and integration services fintech BanQsi opened an office in Dubai, marking its entry into the UAE and GCC area, according to a press release. The firm will provide financial institutions with specialized integration services to boost operational efficiency, while looking to form partnerships with regional players — including fintechs and regulators — and to invest in developing local talent.

#2- DFSA restricts HDFC Bank’s DIFC operations: The Dubai Financial Services Authority (DFSA) has barred India’s HDFC Bank from onboarding or soliciting new clients at its branch in Dubai International Financial Center (DIFC), Khaleej Times reports, citing a decision notice it has seen. Services to existing customers and pending onboardings remain unaffected. The restrictions are effective since 26 September.

HDFC’s response: The bank emphasized that DIFC operations are “not material” to its overall business or financial position and therefore no material impact is expected, according to a disclosure (pdf) to the Bombay Stock Exchange and National Stock Exchange of India. HDFC said it is complying with the directive and is committed to “promptly remediate and address concerns.”

IN CONTEXT- HDFC Bank had come under DFSA scrutiny in June after it bypassed investor safeguarding rules by selling high-risk bonds to retail investors.

MANUFACTURING-

Star Paper Mills will launch a USD 54 mn recycled container board mill in Khalifa Economic Zones Abu Dhabi (Kezad), according to a press release. Construction on the mill is already 95% complete, with trial production expected by the end of this year. The facility will produce 135k tons per year of biodegradable container boards from waste paper — 80% of which will be locally sourced — in a bid to reduce the emirate’s reliance on imports. The UAE currently uses around 1 bn paper bags annually, driven by retail, food service, and e-commerce sectors, with that figure expected to rise.

DEBT-

Capital Intelligence affirms BoS ratings: Capital Intelligence Ratings has maintained Bank of Sharjah ’s long-term foreign currency rating at BBB+ and its short-term rating at A2, according to a statement. The agency also affirmed the bank’s standalone rating at bb+, core financial strength at bb-, and extraordinary support level at high. The outlook on both the long-term and standalone ratings remains stable on the back of the lender’s robust financials and expected support.

Private equity braces for EUR 110 bn fundraising glut as exits stall

Private equity firms are planning to raise three times as much funding in 2026 as they have this year, the Financial Times reports. Ten big European buyout houses are expected to seek more than EUR 110 bn next year — compared to the roughly EUR 34 bn they are set to secure this year — a surge that could force LPs to pick top performers and leave weaker managers short of capital, the FT quotes advisory firm Campbell Lutyens as saying.

This is despite a wave of fundraising fatigue in the industry. Campaigns now take “twice as long” compared to the industry’s heyday, with LPs often insisting on distributions before re-upping against the backdrop of slow exits and lower returns. Advent, Nordic Capital, and Permira are set to remain in market into next year, while Cinven and PAI prepare fresh vehicles. Among this year’s closings are Hg, Ardian, and Oakley.

How slow are we talking? At the current pace, it could take nine years for LPs to recoup capital from the 12k+ companies held by US buyout funds, Bloomberg wrote recently. Dry powder stood near USD 1.2 tn by mid-2025 — about a quarter of what was pledged at least four years ago — while quarterly returns slid from roughly 13.5% in 2Q 2021 to 0.8% in 4Q 2024. Higher financing costs and a lack of promising takeover targets are also weighing on the asset class’ activity.

Managers are leaning on workarounds. Continuation funds and secondaries have surged — accounting for about USD 103 bn of transactions in 1H 2025, with a record USD 302 bn of capital raised for the strategy — but many LPs still prefer traditional exits and view continuation vehicles warily.

Even industry leaders are feeling the strain. Insight Partners cut its flagship target from USD 20 bn to USD 15 bn and still closed around USD 11.5 bn. Apollo, Blackstone, and Carlyle have missed targets and are diversifying into credit, infrastructure, and ins., while Apollo’s Jim Zelter warned of a coming “natural washout.”

The shakeout is pushing investors to be more selective. Texas Teachers is trimming exposure to mega-funds and pivoting toward mid-market managers as performance comes under a “very, very bright light,” advisers say.

Exit pressures are also showing up in public markets. London-listed Petershill Partners blamed weak exit prospects for share-price pressure and said it would delist and return about USD 900 mn to shareholders.

MARKETS THIS MORNING-

Asian markets are mostly in the green, as Sony’s shares surged 36% on its market debut on the Tokyo Stock Exchange and South Korea’s Kospi rose 1.2%. Hong Kong’s Hang Seng also gained 1.2%, while mainland China’s CSI 300 was flat and Japan’s Nikkei fell 0.84%. Over on Wall Street, futures are flat after a losing week.

ADX	10,000	+0.5% (YTD: +6.2%)
DFM	5,855	+0.7% (YTD: +13.5%)
Nasdaq Dubai UAE20	4,747	+0.9% (YTD: +14.0%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	4.0% o/n	3.8% 1 yr
TASI	11,300	-0.7% (YTD:-6.7%)
EGX30	36,166	+1.4% (YTD: +21.6%)
S&P 500	6,644	+0.6% (YTD: +13.0%)
FTSE 100	9,285	+0.8% (YTD: +13.6%)
Euro Stoxx 50	5,500	+1.0% (YTD: +12.3%)
Brent crude	USD 69.56	-0.8%
Natural gas (Nymex)	USD 3.18	-0.8%
Gold	USD 3,768	+0.2%
BTC	USD 112,125	+2.2% (YTD: +20.7%)
Chimera JP Morgan UAE Bond UCITS ETF	AED 3.75	+1.4% (YTD: +7.7%)
S&P MENA Bond & Sukuk	150.44	+0.1% (YTD: +7.5%)
VIX (Volatility Index)	15.29	-8.7% (YTD: -11.9%)

THE CLOSING BELL-

The ADX rose 0.5% on Friday on turnover of AED 1.1 bn. The index is up 6.2% YTD.

In the green: Hayah Ins. (+5.0%), Adnoc Gas (+4.1%) and Fujairah Cement Industries (+3.8%).

In the red: Rapco Investment (-9.9%), Al Khaleej Investment (-9.1%) and Aram Group (-3.5%).

Over on the DFM, the index rose 0.7% on turnover of AED 620.5 mn. Meanwhile, Nasdaq Dubai is up 0.9%.

UAE, Canada eye trade pact + discuss cooperation in logistics, clean energy, and more

UAE, Canada eye trade pact: The UAE is in talks with Canada on a trade agreement that could nearly double bilateral trade to about CAD 7 bn (USD 5 bn) from roughly CAD 3.5 bn, Bloomberg reports, citing comments by Economy Minister Abdulla bin Touq Al Marri at an Investopia conference in Calgary. “Both sides have to negotiate the terms and text details and legality,” he said, adding that the UAE is seeking Canadian investments in agritech as it works to cut its reliance on food imports to 60% from 90%.

The two countries are looking to deepen economic and investment ties: Economy Minister Abdulla bin Touq Al Marri and Canada’s Transport Minister Stephen MacKinnon discussed strengthening cooperation in the logistics, transport, aviation, and entrepreneurial sectors, Wam reports

Al Marri also met with Premier of Alberta Danielle Smith to discuss cooperation in sectors including clean energy, food security, tourism, digital technologies, air transportation, space, and advanced manufacturing, Wam reported elsewhere.

ICYMI- The two countries were also in talks earlier this year for the UAE — alongside Saudi Arabia — to invest in Canada’s AI sector. Prior to the talks, Dubai International Chamber had established a representative office in Toronto to boost investment relations. The UAE already has a presence in Canada through Nova Chemicals, acquired by Adnoc and OMV for USD 6.3 bn. Canada’s exports to the UAE rose 24% last year to CAD 2.6 bn, while imports stood at CAD 797 mn.

UAE diplomacy at the UN focused on Gaza: Foreign Affairs Minister Sheikh Abdullah bin Zayed Al Nahyan met with Israeli Prime Minister Benjamin Netanyahu on the sidelines of the UN General Assembly in New York, in what was the first meeting between an Arab official and Netanyahu since Israel’s attack on Qatar, according to a statement. Al Nahyan stressed the importance of ending the “bloody” war and reaching a resolution based on the two-state solution.

UAE diplomatic advisor to the president Anwar Gargash said the country’s top priority during UNGA was halting Israel’s plans to annex Palestinian land, ending the war in Gaza, stopping the bloodshed, and securing humanitarian access, according to an X post.

CALENDAR

SEPTEMBER

23-30 September (Tuesday-Tuesday): Subscription period for Alec Holding’s IPO.

29 September-October 1 (Monday-Wednesday): African, Middle East, and Islamic Finance Aviation 100 Awards, Dubai.

30 September-1 October (Tuesday-Wednesday): MENA Investment Congress (MENA ICON), Abu Dhabi.

30 September-2 October (Tuesday-Thursday): Global Rail Transport Infrastructure Exhibition and Conference, Abu Dhabi.

30 September-2 October (Tuesday-Thursday): The Water, Energy, Technology, and Environment Exhibition (Wetex), Dubai World Trade Center.

30 September (Tuesday): Africa Debate Conference, Dubai.

30 September (Tuesday): Dubai Podfest, Dubai.

OCTOBER

30 September - 1 October (Tuesday-Wednesday): IMO World Maritime Day Parallel Event, Dubai.

1 October (Wednesday): Final price for Alec Holding’s IPO to be announced.

1-2 October (Wednesday-Friday): World Green Economy Summit (WGES), Dubai World Trade Center.

2 October (Thursday): Zawya GCC Capital Markets Forum, Fairmont, Dubai.

3-16 October (Friday-Thursday): Dubai Home Festival.

4 October (Saturday): Syria Recovery and Investment Forum, Adnec Center, Abu Dhabi.

7 October (Tuesday): Enterprise Egypt Forum 2025.

7-9 October (Tuesday-Thursday): The International Symposium on the System of Radiological Protection, the Ritz-Carlton Abu Dhabi, Grand Canal.

9 October (Thursday): Family Office Summit, Park Hyatt, Dubai.

9-11 October (Thursday-Saturday): European Arab Medical Congress (EAMC 2025), Abu Dhabi Energy Centre, Abu Dhabi

9-15 October (Thursday-Wednesday): IUCN World Conservation Congress, Abu Dhabi.

12-15 October (Sunday-Wednesday): Expand North Star, Dubai Harbor.

14-16 October (Tuesday-Thursday): Global Future Councils, Dubai.

14 October (Tuesday): Dubai Safari Park, Dubai

15 October (Wednesday): Alec Holding’s shares to begin trading on the DFM.

15-18 October (Wednesday-Saturday): Middle East Electric Vehicle Show, Expo Center Sharjah.

15-18 October (Wednesday-Saturday): The Future Mobility Expo & Conference, Expo Centre Sharjah.

15-18 October (Wednesday-Saturday): Evolve Future Mobility Show, Expo Centre Sharjah.

22 October (Wednesday): Reuters NEXT Gulf Summit, The St. Regis Saadiyat Island Resort, Abu Dhabi.

22-24 October (Wednesday-Friday): World Investment Conference, Expo Center Sharjah.

23 October (Thursday): S&P Global’s annual Islamic Finance Conference, DIFC Atrium, Dubai.

27 October (Monday): The UAE Africa Tourism Investment Summit, Dubai.

27-29 October (Monday-Wednesday): Future Hospitality Summit, Madinat Jumeirah, Dubai.

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

28-29 October (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

29 October (Wednesday): The Brand Residences Forum, Dubai.

NOVEMBER

1-2 November (Saturday-Sunday): Women's Empowerment Convention (WE Convention), Atlantis The Royal, Dubai.

4-6 November (Tuesday-Thursday): Annual government meetings, Abu Dhabi.

4-6 November (Tuesday-Thursday): ARABAL International Aluminum Conference, Dubai

4-9 November (Tuesday-Saturday):Dubai Design Week, Dubai.

10-15 November (Monday-Saturday): SASC organizes Abu Dhabi Autonomous Week, Abu Dhabi.

10 November (Monday): SASC organizes The Abu Dhabi Autonomous Summit, Abu Dhabi

11-17 November (Tuesday-Monday): International Council of Museums (ICOM) General Conference, Dubai.

12 November (Wednesday): Dubai Business Forum, Cipriani South Street, New York City.

12-17 November (Wednesday-Monday): RoboCup Asia-Pacific, Khalifa University, Abu Dhabi.

13-15 November (Thursday-Saturday): International Financial Markets (ICA) Conference and Exhibition, Conrad Dubai.

15-17 November (Saturday-Monday): Myplant & Garden Middle East Green Expo, Dubai Exhibition Center, Expo City.

17-21 November (Monday-Friday): Dubai Airshow, Al Maktoum International Airport, Dubai.

18-19 November (Tuesday-Wednesday): Dubai Future Forum, Museum of the Future, Dubai.

19-20 November (Wednesday-Thursday): Investment and Business Summit, Al Hamra International Exhibition and Convention Centre, Ras Al Khaimah

19-23 November (Tuesday-Sunday): Abu Dhabi Art, Manarat Al Saadiyat, Abu Dhabi

24-27 November (Monday-Thursday): Big 5 Global Exhibition, Dubai World Trade Center, Dubai

26-27 November (Wednesday-Thursday): DATE (Digital Acceleration & Transformation Expo), Dubai

DECEMBER

1-3 December (Monday-Wednesday): Eid Al Etihad (UAE National Day).

2-5 December (Tuesday-Friday): Sotheby’s Abu Dhabi Collectors’ Week, Abu Dhabi.

1-5 December (Monday-Friday): The World Congress of Neurosurgery, Dubai World Trade Center.

7-14 December (Sunday-Sunday): Asian Youth Para Games, APC headquarters, Dubai.

8 December (Monday): DeFi Technologies Insights Global Symposium, Emirates Palace, Abu Dhabi.

8-9 December (Monday-Tuesday): BTC Mena Conference, Adnec, Abu Dhabi.

8-9 December (Monday-Tuesday): Global AI Show 2025, Abu Dhabi.

8-10 December (Monday-Wednesday): Bridge media summit, Abu Dhabi.

8-11 December (Monday-Thursday): Abu Dhabi Finance Week, Al Maryah Island.

9-10 December (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

9-11 December (Tuesday-Thursday): Automechanika Dubai Trade Show, Dubai World Trade Centre.

13-15 December (Saturday-Monday): Mobile Developers Week, Abu Dhabi.

18-23 December (Thursday-Tuesday): Games of the Future, Adnec, Abu Dhabi.

29-30 December (Monday-Tuesday): World Sports Summit, Dubai.

Signposted to happen sometime in 2025:

e& will complete Adnoc’s private 5G network
Executive Committee Meeting (EXCOM 2025) conference of the World Smart Sustainable Cities Organisation (WeGO)

Signposted to happen sometime in 2H 2025:

Closing of XRG's acquisition of Covestro

JANUARY 2026

1 January: Client asset regime changes in Dubai International Financial Center take effect.

9-11 January (Friday-Sunday): 1 Bn Followers Summit, UAE.

13-15 January (Tuesday-Thursday): FESPA Middle East, Dubai Exhibition Centre, Dubai

28-29 January (Wednesday-Thursday): IBA Arbitration Day Conference, Abu Dhabi.

28-30 January (Wednesday-Friday): World Customs Organization Technology Conference, Adnec Center, Abu Dhabi.

FEBRUARY 2026

3-5 February (Tuesday-Thursday): The World Governments Summit.

12-15 February (Thursday-Sunday): The Society for Incentive Travel Excellence Global Conference, Abu Dhabi.

9-13 February (Monday-Friday): The World Health Expo (WHX), Dubai.

MARCH 2026

31 March - 2 April (Tuesday-Thursday): Arab Media Summit, Dubai.

26-28 March (Thursday-Saturday): Social Capital Conference, Dubai.

JUNE 2026

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

Signposted to happen in 2026:

13-15 April ( Monday-Wednesday) : The International Glass Manufacturing Show, Dubai.
14-16 April: (Tuesday-Thursday): the International Property Show, Sheikh Zayed Rd, Dubai.
11-13 May (Monday-Wednesday): AI Everything Global, Adnec Center.
The UAE to host the Arab Competition Forum
Dubai to host the Arab Actuarial Conference
United Nations Water Conference
Dubai Future Finance Week
Investopia Global Talks, Tashkent

Signposted to happen sometime in October 2026:

Abu Dhabi Space Week, Abu Dhabi.

Signposted to happen sometime in 2027:

1Q 2027: Completion of the first phase of Hassyan seawater desalination project.
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 between 2027 and 2029:

Sibos 2029 organized by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), Dubai.
The commissioning of the seventh phase of Mohammed bin Rashid Al Maktoum Solar Park.

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