Talabat becomes biggest tech IPO of the year

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Covestro’s shareholders greenlight Adnoc’s takeover + Fuel prices at their lowest this year in December

Good morning, lovely people, and welcome to the start of this abridged workweek. We hope you had a relaxing long weekend and are ready to dive back into work for the final month of the year.

WEATHER- It’s another cool and breezy day in Dubai, with a high of 28°C and a low of 20°C. It’s even cooler in Abu Dhabi, where temperatures will peak at 25°C and reach a low of 20°C overnight.

WATCH THIS SPACE-

#1- Covestro shareholders greenlight Adnoc takeover: Adnoc’s USD 16.3 bn acquisition of German chemicals company Covestro has exceeded the minimum shareholder acceptance threshold, reaching around 70% as of 27 November, Reuters reports, citing a statement from Adnoc. The acceptance period for the bid ended last week, with the additional acceptance period starting yesterday and lasting until 16 December.

Remember: Covestro’s management already gave the offer a nod earlier this month, with the closing of the acquisition expected sometime in 2H 2025. Adnoc has been in ongoing negotiations for the takeover, which is set to be the biggest acquisition from a Middle Eastern buyer in Europe in 16 years, for more than a year.

#2- Branded residences in Dubai are expected to see a 10-20% uptick in value amid growing demand, real estate industry insiders told Arabian Business, with some anticipating up to 25% hikes, depending on the location and offered services. Branded residences are currently estimated at an average price of USD 1.8k (AED 6.5k) per sq ft.

Rental incomes from branded residences are also projected to see an annual growth rate of 12% by 2026. Global Branded Residences expects to see 120 branded residence projects in the UAE by 2028.

#3- The UAE and the US have discussed lifting sanctions on Syrian President Bashar Al Assad if he ends his cooperation with Iran and cuts off weapon routes to Hezbollah, unnamed sources told Reuters. These discussions came ahead of the expiry of the US’ sanctions on Syrian business sectors on 20 December (and before anti-Assad rebels launched their offensive on Aleppo this week). The UAE has been eyeing business ties with Syria, pending the end of US sanctions and Damascus’ bond with Iran, the sources mentioned.

#4- One step closer to a common Arab electricity market: The Arab League has inked key agreements for the mechanisms and framework for a common Arab electricity market during the Arab Ministerial Council for Electricity held in Egypt's New Administrative Capital, Wam reports.

The unified market aims to connect the energy systems of 22 Arab countries by 2038, with phased implementation starting 2025, Arab League Energy Director Jamila Matar previously said. The market is expected to operate on a commercial mechanism, enabling energy exchange by utilizing surplus electricity from member states. The initiative, Matar added, could draw on the Gulf electricity interconnection project as a model for success.

The countries involved: The countries that signed the agreement include the UAE, Saudi Arabia, Kuwait, Palestine, Syria, Egypt, Qatar, Libya, Sudan, Yemen, Morocco, and Jordan.

#5- Ayana Holding’s real estate development arm Amaal plans to develop projects worth AED 5 bn within the next three to five years, Chairman Abdullah Bin Lahij told Al Khaleej. The company is exploring expansion into Abu Dhabi and Ras Al Khaimah.

PUBLIC SERVICE ANNOUNCEMENTS-

#1- You'll be paying less at the pump this month: The Fuel Price Committee reduced December fuel prices by nearly 5%, except for diesel, according to an Emirates General Petroleum Company statement posted on X. The reductions bring fuel prices to their lowest so far this year, Khaleej Times reports.

The breakdown per liter:

Super 98: AED 2.61;
Special 95: AED 2.50;
E-plus 91: AED 2.43;
Diesel, however, rose to AED 2.68, up from AED 2.67 in November.

#2- FTA reminds businesses of corporate tax dues: The Federal Tax Authority urged businesses to file their tax returns and pay their dues within the specified legal timeframes to avoid administrative penalties, Wam reports. The deadline was previously extended to 31 December 2024 for tax periods ending on or before 29 February 2024.

DATA POINTS-

#1- Global Food Week sees the signing of AED 6.2 bn worth of agreements: Abu Dhabi’s Global Food Week saw AED 6.2 bn in agreements signed over three days, a 59% increase y-o-y, Wam reports. The event featured over 1.6k meetings between buyers and exhibitors globally, potentially leading to an additional AED 1.7 bn in agreements. Several memorandums of understanding (MoUs) were signed in the food and beverage sector.

#2- Dubai led the Middle East in Mercer’s Quality of Living City Ranking, with Abu Dhabi following closely behind. Globally, the two cities secured the 83rd and 85th spots. The ranking assesses living standards, infrastructure, housing, recreation, socio-cultural environment, purchasing conventions, travel, traffic, air quality, and access to education.

#3- Construction contracts in the UAE amounted to a total of AED 325.9 bn in 9M 2024, Al Etihad reports, citing a BNC Network report. The country accounted for 42.9% of the total contracts awarded in the GCC region, which reached USD 207.7 bn during the period. The contracts were awarded across five sectors: industrial facilities, oil and gas, transportation, real estate, and utilities.

HAPPENING TODAY-

The WORLDEF Dubai 2024 forum will take place on 4-5 December at Dubai CommerCity. The event will gather over 5k representatives from leading organizations in digital commerce.

THE BIG STORY ABROAD-

The global press started the week speculating about the possible fall of the government in Syria, then France, and now South Korea, with President Yoon Suk Yeol’s unexpected imposition of martial law quickly rescinded after a parliamentary vote — including dissent from his own conservative People Power Party — and outrage across the political spectrum. The move, criticized as an authoritarian overreach, has sent ripples through financial markets, with investor confidence shaken and the KRW initially weakening against the greenback before climbing back after the end of martial law. (Financial Times | Wall Street Journal | Bloomberg | Reuters | Associated Press | New York Times | Guardian)

The expected collapse of French Prime Minister Michel Barnier’s government is also continuing to rank high on the digital front pages, as the country’s lawmakers get ready for a no-confidence vote later today. As in South Korea, the political uncertainty has rattled financial markets, with bond investors punishing France’s sovereign debt. President Macron appears to be making use of the plentiful sand during his trip to Riyadh to put his head in, telling reporters that he’s confident the government can survive the vote. (Financial Times | Bloomberg | Reuters | Guardian)

While over in trade war news, China has banned exports to the US of key minerals and metals — including gallium, germanium, and antimony — all used in semiconductors and military equipment, marking a sharp escalation in the ongoing US-China tech war. (Financial Times | Reuters | Associated Press | New York Times)

And in market news, some are wondering if the AI hype could soon be over, with Vanguard’s Joe Davis warning that investors have overestimated the near-term potential of artificial intelligence, raising the likelihood of a market correction. (Financial Times)

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MARKET WATCH-

All eyes on Opec+ as production decision nears: Opec+ is likely to opt for extending its oil output cuts until the end of 1Q 2025 at its meeting tomorrow in a bid to bolster oil prices, Reuters reports, citing four anonymous Opec+ sources. The move would see the group postponing plans to phase out oil supply for a third time amid a slowdown in global demand and a rise in supply outside the cartel.

Things could get bad for oil markets once oil cuts end, experts say: One analyst sees oil prices going down to USD 30-40 a barrel next year if Opec+ reversed course on the existing cuts, he told CNBC.

CIRCLE YOUR CALENDAR-

Abu Dhabi Finance Week kicks off on 9 December and lasts through 12 December. The event will feature a patchwork of forums exploring capital markets, investments, Islamic finance, sustainability, and more, with more than 600 speakers and 20k guests set to attend. Speakers include Trade Minister Thani bin Ahmed Al Zeyoud, founder and CIO of Bridgewater Associates Ray Dalio, UBS CEO Sergio Ermotti, and Jihad Azour, director for Middle East and Central Asia Department of International Monetary Fund (IMF). You can find the full agenda for the week here.

The International Desalination and Water Reuse World Congress will take place between 8-12 December at the Adnec Center in Abu Dhabi. The event will feature discussions on innovations in water desalination and reuse technologies, decarbonization efforts, integrated water resources management, and best practices for rationalizing water consumption.

The European Arab Medical Congress will take place on 11-12 December at the headquarters of Zayed Higher Organisation for People of Determination in Abu Dhabi. Hosted by the Emirates Scholar Center for Research and Studies, the event will host 50 speakers and feature 40 scientific sessions covering the latest innovations in medicine and medical technology.

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

World Bank maintains growth forecast for the UAE this year and in 2025

The World Bank maintained its GDP growth outlook for the UAE at 3.3% in 2024, keeping its the projection from its semi-annual report unchanged, according to the end-of-year Gulf Economic Update report (pdf). The forecast is attributed to the 4.1% expansion in the non-oil sector, driven by growth in tourism, real estate, construction, transportation, and manufacturing. Its forecast for 2025 and 2026 remained unchanged at 4.1%, supported by an expected recovery in oil production.

Current account surplus will continue to narrow next year: The country’s current account surplus will narrow to 7.5% in 2024, down from 9.2% last year, with a decline to 7.3% on average in 2025-2026. The UAE will maintain a fiscal surplus of 4.9% of GDP in 2024, supported by expanding non-oil revenues.

The employment-to-population ratio is projected to reach 80.3% in 2024, supported by policies promoting gender balance and female workforce participation.

ON A REGIONAL LEVEL-

The GCC economy is expected to grow by 1.6% in 2024, down from a semi-annual forecast of 1.9%. The region’s non-oil sector is expected to expand by 3.7% due to ongoing diversification efforts in finance, logistics, and tourism. Meanwhile, oil GDP contracted by 7.5% due to reduced oil output.

Optimism remains despite slower non-oil operations: Growth is expected to pick up to 4.2% in 2025-2026 as Opec+ crude production cuts ease, with non-oil GDP remaining resilient, though potentially growing at a slower rate in 2025 if lower oil prices lead to fiscal consolidation measures.

GCC inflation averaged 2.3% for the first nine months of 2024, on the back of tighter monetary policies, subsidies, lower global food prices, and currency stability, though it could go up in 2025 due to stronger economic growth and interest rate cuts.

The region is expected to shift from a fiscal surplus to a small deficit in 2024, driven by reduced oil revenues due to Opec+ production cuts. The region's combined fiscal deficit is expected to be 0.1% of GDP in 2024, widening slightly to 0.2% in 2025-2026 due to lower oil revenues and higher expenditures.

Talabat raises AED 7.5 bn in world’s biggest tech IPO of the year

Delivery Hero’s Middle East unit Talabat raised AED 7.5 bn (c. USD 2 bn) from its IPO on the DFM after pricing the offering at the top of the range, the company said in a statement (pdf) on Friday. The offering, which attracted a “double-digit oversubscription level,” is the largest tech listing globally year-to-date and the largest IPO in the GCC this year. It is also the first ever tech IPO on the DFM.

The details: The IPO was priced at AED 1.60 per share, implying a market capitalization of c. AED 37.3 bn (c. USD 10.1 bn). The company sold some 4.7 bn shares, offloading a 20% stake after increasing the offer size from an initial 15% during the book-building period last week due to high investor demand.

Talabat’s shares are expected to begin trading on 10 December under the ticker symbol TALABAT.

ADVISORS- Delivery Hero appointed Emirates NBD Capital, Morgan Stanley, and JP Morgan as joint coordinators and bookrunners, with Abu Dhabi Commercial Bank (ADCB), Barclays, EFG Hermes UAE, First Abu Dhabi Bank (FAB), Goldman Sachs, ING, and UniCredit also acting as joint bookrunners. Emirates NBD is the lead receiving bank, with ADCB, Abu Dhabi Islamic Bank, Al Maryah Community Bank, Wio, Emirates Islamic Bank, FAB, and our friends at Mashreq are also acting as receiving banks.

The IPO market has been red-hot this year: Talabat’s IPO tops hypermarket chain Lulu Retail’s offering, which raised AED 6.3 bn last month. It also follows ADNH Catering’s AED 864 mn listing in October, NMDC Energy’s AED 3.2 bn IPO in September, Alef Education’s AED 1.9 bn IPO, and Supermarket chain Spinneys Dubai’s AED 1.38 IPO in May.

The story got ink in the foreign press: Reuters | Bloomberg

Mubadala Energy, Harbour Energy to develop Central Andaman oil and gas block

Abu Dhabi-based Mubadala Energy and UK-headquartered Harbour Energy are set to develop the Central Andaman oil and gas block after inking a development contract with Indonesia's government, according to an Energy Ministry statement picked up by Reuters. This comes less than two months after the pair received the exploration license for the block from Indonesia's MIGAS.

About the block: Located offshore northern Sumatra, the block is estimated to hold 100 mn barrels of oil and 500 bn cubic feet of gas, the newswire reports, citing Energy Ministry data. Harbour Energy holds a 60% operating stake in the block, while Mubadala Energy owns a 40% stake.

The agreement employs a new model of revenue sharing: This is the first contract to employ Indonesia’s gross split scheme, which was launched in 2017. The scheme divides gross production between contractors and the government based on agreed-upon percentages. The goal is to streamline contracts and make revenue more predictable.

This isn’t Mubadala’s first rodeo in Andaman: Mubadala Energy and Indonesia's Perusahaan Listrik Negara (PLN) earlier this month inked an agreement to explore power generation from the South Andaman blocks to address Indonesia’s energy demand and for infrastructure development. Mubadala also discovered over 8 tn cubic feet of natural gas at the Layaran and Tangkulo fields in North Sumatra in South Andaman earlier in May, marking the company’s second deepwater find in South Andaman. The company wrapped up its drilling campaign in South Andaman in September.

Abu Dhabi Investment Group to invest USD 100 bn in Brazil across various sectors

Abu Dhabi Investment Group to invest USD 100 bn in Brazil: Holding firm Abu Dhabi Investment Group (ADIG) is set to invest some USD 100 bn in infrastructure and agriculture production in Brazil, CEO Zayed Bin Rashid Bin Aweidha Al Qubaisi said, according to a press release. The announcement was made during his meeting with Brazilian President Luiz Inácio Lula da Silva in Rio de Janeiro.

The agreement follows the G20 Summit in Rio de Janeiro, where the UAE and Brazil signed an MoU to facilitate UAE investments in Brazil’s strategic sectors.

The details: ADIG aims to develop foundational infrastructure in Brazil across sectors like technology, aviation, and automobile manufacturing, Al Qubaisi said. Plans also include establishing a bank and launching agricultural projects on 400k sqm to support food security programs, he added.

ADIG has plenty of sustainable projects in the pipeline: “Our efforts span the financing of smart transportation systems, clean water networks, and green infrastructure, alongside driving digital transformation and modern technological advancements,” he said. The group also plans to create alternative housing solutions, including new model villages to relocate residents of informal settlements, he also said during the summit.

Playgama raises USD 3 mn in a funding round

UAE-based gaming technology startup Playgama raised USD 3 mn in a funding round led by The Open Platform and s16vc, according to a press release. The round was also backed by FJ Labs, The Games Fund, Ton Ventures, and CEO and Founder of Unlimit Kirill Eves.

Where will the money go? The startup plans to use the funding to develop its platform, expand its toolkit, and introduce advanced analytics and fintech solutions, Founder Dmitry Kachmar (LinkedIn) said.

About Playgama: Founded in 2023, the tech-based firm is an HTML5 games portal that provides gamers and developers with access to different playgrounds, distributors, and other platforms.

Sheikh Hazza bin Zayed Al Nahyan named ruler’s representative in Al Ain

President Sheikh Mohamed bin Zayed Al Nahyan named deputy Abu Dhabi ruler Sheikh Hazza bin Zayed Al Nahyan as his representative in Al Ain, Wam reports. Sheikh Hazza previously held the positions of national security advisor, and deputy chairman of the Abu Dhabi executive council.

Companies from China, Europe, and Mena set up shop in the UAE

BUSINESS-

Estonia-based ride-hailing app Bolt has made its UAE debut in Dubai, Wam reports. Bolt tapped the Dubai Taxi Company (DTC), among other partners, to use their limousines to support its initial fleet. The next phase will introduce taxi services on the app.

More in the pipeline: Bolt plans to expand into other emirates and add more services to its app, including delivery services, e-scooters, and car rentals.

TELECOM-

China Unicom launches operations in Dubai: Chinese telecom provider China Unicom Global launched its operations in Dubai, marking its first foray into the Middle East, Al Bayan reports.

The company currently operates 40 branches worldwide, oversees over 60 international submarine cables, and manages more than 400 service access points across over 200 countries and regions.

REAL ESTATE-

Lasirena Group eyes UAE for its first overseas expansion: Egyptian real estate and tourism developer Lasirena Group is stepping outside its home market for the first time, partnering with Abu Dhabi-based HE Holding to develop multiple projects in the emirate, according to a press release. The group, which has developed over 15 projects in Egypt, is also exploring additional international investments alongside plans to expand domestically. Details of the Abu Dhabi projects have yet to be disclosed.

BANKING-

Jaywan cards arrive at Mbank: Al Maryah Community Bank (Mbank), the UAE’s first fully integrated digital bank, has launched Jaywan cards, the UAE’s first national debit card, through its blockchain-powered Mbank Wallet platform, according to a press release. The cards enable payments at all POS terminals in the UAE, international money transfers, and cash withdrawals. Other UAE banks can also integrate the cards into their systems using Mbank’s digital wallet infrastructure.

Background: Developed by the UAE’s digital payments body, Al Etihad Payments, Jaywan cards are part of a phased rollout aimed at replacing 10 mn debit cards over the next two and a half years. The cards can function independently or alongside global card schemes like Visa and Mastercard.

HOSPITALITY-

Jumeirah expands into Africa: State-owned luxury hotel brand Jumeirah is tapping into the African market through a partnership with South African hospitality group Thanda, according to a press release. The duo is launching Jumeirah Thanda Island in Tanzania and Jumeirah Thanda Safari in South Africa.

HEALTHCARE-

Beeah Group tapped Renzo Piano Building Workshop (RPBW) as the architectural developer for its Jawaher Boston Medical District in Sharjah, Wam reports. The project, developed in collaboration with US medical institutions Mass General Brigham and Dana-Farber Cancer Institute, will feature a 266-bed hospital offering services in women’s health, oncology, and pediatrics. The design includes a solar panel canopy and aims for net-zero energy, according to RPBW Chairman Renzo Piano.

SPACE-

Khalifa University of Science and Technology and Lockheed Martin partnered to develop aerospace and defense technologies, Wam reports. The partnership will include expanding Lockheed’s center of innovation and security solutions (CISS) into Khalifa University’s main campus. CISS will focus on research and developing solutions in the fields of AI, simulation technologies, autonomous systems, and data analytics.

FINANCE-

The UAE has joined the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) as an observer — becoming the first country in the region to achieve this status, Wam reports. The observer role allows the UAE to participate in group discussions and collaborate with member states to strengthen regional efforts against money laundering and terrorist financing.

About the EAG: Established in 2004 as an associate member of FATF, the Eurasian Group includes nine member states: Belarus, China, India, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Turkmenistan, and Uzbekistan.

MANUFACTURING-

Green Coast to open USD 5 mn packaging factory in Saudi: Dubai-based Green Coast is planning to open a packaging factory in Saudi in 1Q 2025, with investments of USD 5 mn, CEO Mohammed Abdul Ghaffar Hussain told Asharq Business (watch, runtime: 1:36) on the sidelines of inauguration of the EG FCO polyethylene pipes factory in Egypt. The company also plans to invest an additional USD 200 mn in the renewable energy sector over the next five years, Hussain added.

ICYMI: Green Coast is planning to invest some USD 50 mn in Egypt over the next three years, focusing on renewables and infrastructure.

Rate cuts ahead, but not necessarily in December

Rate cuts are coming, but it might not be this month: The US Federal Reserve is expected to continue cutting interest rates in 2025 despite no firm expectations about the next cut taking place this month, Bloomberg reports, citing three unnamed Fed officials. The final decision will be made at a meeting on 17-18 December.

It all depends on the data: There is support for a cut in December, but the decision will depend on whether upcoming data — including for the labor market — alters the “forecast for the path of inflation,” Fed Governor Christopher Waller said. New York and Atlanta Fed presidents shared this view, emphasizing that the inflation data will be the deciding factor as “the outlook remains highly uncertain.”

Service-sector inflation remains a concern: The personal consumption expenditures price index, excluding food and energy, increased by 2.8% for the 12 months ending in October, leading some investors to expect delays in the cutting cycle.

REFRESHER- Analysts have been anticipating interest rate cuts since the US elections wrapped last month, though the Fed has signaled that its rate cut cycle may play out slower than initially forecasted. Analysts also expect new policies from president-elect Donald Trump to drive up inflation and potentially slow down the monetary easing cycle further. The expected cuts would come just two months after the Fed’s 50 bps rate cut in September — its first in over four years.

A change to the Fed’s inflation policy is needed, officials say: Flexible average inflation policy will be reviewed in the Fed’s next framework evaluation in January. This review will look into the current framework, which allows inflation to run slightly above the target, and which Waller said was backward looking and designed before inflation began to rise.

MARKETS THIS MORNING-

Asian markets are in the red as investors digest the events in South Korea, with the country’s Kospi index down more than 2%, and South Korean stocks in the US seeing intense volatility. Over on Wall Street, futures are flat after the S&P 500 and Nasdaq closed at record highs.

ADX	9,235	-0.3% (YTD: -3.6%)
DFM	4,847	+0.5% (YTD: +19.4%)
Nasdaq Dubai UAE20	3,886	-0.5% (YTD: +1.1%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	4.5% o/n	4.4% 1 yr
TASI	11,816	+0.7% (YTD: -1.0%)
EGX30	30,629	+0.3% (YTD: +23.0%)
S&P 500	6,050	+0.1% (YTD: +26.8%)
FTSE 100	8,359	+0.6% (YTD: +8.1%)
Euro Stoxx 50	4,879	+0.7% (YTD: +7.9%)
Brent crude	USD 73.62	+2.5%
Natural gas (Nymex)	USD 3.05	+0.2%
Gold	USD 2,666.20	+0.3%
BTC	USD 95,740.50	+0.3% (YTD: +127.0%)

THE CLOSING BELL-

The ADX fell 0.3% yesterday on turnover of AED 1.4 bn. The index is down 3.6% YTD.

In the green: Fujairah Cement Industries (+4.4%), Abu Dhabi National Co. for Building Materials (+3.4%) and Abu Dhabi Ship Building Co. (+2.9%).

In the red: Abu Dhabi National Takaful Co (-7.7%), Julphar (-2.3%) and Apex Investments (-2.1%).

Over on the DFM, the index closed up 0.5% on turnover of AED 806.3 mn. Meanwhile Nasdaq Dubai fell 0.5%.

Saudi crown prince lands in the UAE for the first time in three years

Saudi Crown Prince Mohammed bin Salman visited the UAE over the weekend, marking his first visit to the country in three years, Saudi state news agency SPA said. During a sit-down with Sheikh Mohamed bin Zayed Al Nahyan, the leaders discussed regional developments and the importance of Gulf cooperation, state news agency Wam reports.

On the agenda for discussions was Opec's increase of the UAE’s oil production quota, which is set to begin in January 2025, sources told Reuters. This comes ahead of an upcoming Opec+ meeting scheduled for 5 December, where the group is widely expected to delay further its plans to hike output until the end of 1Q 2025.

UAE + Philippines partner on energy transition: The Philippines and the UAE have signed an MoU to cooperate on the energy transition, according to a press release. The agreement outlines collaboration in renewable energy, nuclear energy, energy efficiency, and alternative fuels, among other things.

What’s next? An implementation agreement with a UAE state-owned company is currently in

the works, with an anticipated signing date next January.

CALENDAR

DECEMBER

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

4-5 December (Wednesday-Thursday): WORLDEF Dubai, Dubai CommerCity.

5 December (Thursday): Global Manufacturing and Industrialisation Summit 2024, Abu Dhabi.

4-6 December (Wednesday-Friday): Abu Dhabi Business Week, Adnec Center, Abu Dhabi.

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

5 December (Thursday): Khalifa Fund Entrepreneurship Competition, Adnec center, Abu Dhabi.

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

13 December - 4 January (Friday-Saturday): Liwa International Festival, Al Dhafra, Abu Dhabi.

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

1- December (Tuesday): Talabat’s shares will start trading on the DFM.

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

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

9-13 December (Monday-Friday): World Realty Congress, Palazzo Versace, Dubai.

10-11 December (Tuesday-Wednesday): Global Trade and Infrastructure at Logimotion, Dubai World Trade Center.

10-11 December (Tuesday-Wednesday): SCALEX at Logimotion, Dubai World Trade Center.

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.

7-9 January (Tuesday-Thursday): 17th edition of the Arab Plast International Trade Fair for Plastics, Recycling, Petrochemicals, Packaging and Rubber Industry, Dubai International Convention and Exhibition Center, Dubai.

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.

11-13 January (Saturday-Monday): The 1 Bn Followers Summit, Dubai.

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

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

14-16 January (Tuesday- Thursday): Intersec, Dubai World Trade Center, Dubai.

19-24 January (Sunday-Friday): Coling2025, Abu Dhabi.

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

22-25 January (Monday-Saturday): The Sharjah Real Estate Exhibition, Expo Centre, Sharjah.

27-30 January (Monday-Thursday): Arab Health Exhibition 2025, Dubai World Trade Centre, Dubai.

FEBRUARY 2025

1-6 February (Saturday-Thursday): Dubai Fashion Week, Dubai Design District.

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

1-28 February (Saturday-Friday): 3rd Sheikh Mansour bin Zayed Agriculture Excellence Award, Abu Dhabi.

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

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

10-12 February (Monday-Wednesday): Japan Kyoto Trade Exhibition, Dubai Word 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.

28-29 February (Friday-Saturday): The Investopia 2024, the St. Regis, Abu Dhabi.

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.

19-22 May (Monday-Thursday): Make it in the Emirates Forum 2025, Adnec, Abu Dhabi.

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

SEPTEMBER 2025

8-10 September (Monday-Wednesday): DigiHealth exhibition, World Trade Center, Dubai.

24-25 September (Wednesday-Thursday): Mohammed Bin Rashid Leadership Forum, Mohammed Bin Rashid Center for Leadership Development, Dubai.

OCTOBER 2025

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

NOVEMBER 2025

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

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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