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Dubai Land Department has formalised a groundbreaking partnership with Masdar City, paving the way for companies operating within Abu Dhabi’s prominent free zones to acquire land plots and properties under the freehold ownership system in Dubai. This strategic memorandum of understanding aims to provide these companies with a more expansive and regulated pathway to invest in the Dubai real estate market, in line with the emirate’s broader vision to bolster its economic landscape.

The MoU was signed by Majid Al Marri, CEO of the Real Estate Registration Sector at DLD, and Ahmed Baghoum, CEO of Masdar City, during an official event in Dubai. The agreement marks a significant step in enhancing Dubai’s real estate market, which is actively adapting to new investor demands and aims to remain a competitive player on the global stage.

This collaboration is part of a wider effort to increase the attractiveness of the Dubai property market, with a focus on aligning with the Dubai Real Estate Strategy 2033. As part of this strategy, the city aims to enhance its status as a global hub for investment, business, and residential opportunities. By granting companies in Masdar City the ability to own land and property in Dubai, the DLD is encouraging greater foreign investment and further integration of the free zone’s economic sectors with the emirate’s broader financial ecosystem.

The development comes as part of Dubai’s commitment to expanding its investment opportunities across various sectors. This MoU reflects the UAE’s ambition to tap into innovative and sustainable business models, especially in green and technology-driven industries. Masdar City, which has long been recognised as a leader in sustainable urban development, is expected to play a pivotal role in further shaping the region’s real estate future. The partnership also signals a convergence of real estate and green innovation, capitalising on both sectors’ growth trajectories.

Masdar City, known for its focus on sustainability, is home to a growing number of businesses and startups involved in renewable energy, environmental solutions, and green technologies. By facilitating real estate ownership for these companies in Dubai, the DLD is fostering an environment that encourages companies operating in these industries to expand and deepen their investments in the UAE’s economic framework.

For Masdar City, the agreement opens up new opportunities for its tenants, creating a more expansive environment in which businesses can thrive, with the potential for significant capital appreciation as Dubai’s real estate market remains one of the most stable and profitable in the region. This move is also expected to elevate the city’s global competitiveness by promoting a broader base of businesses, both within Masdar and the UAE at large.

The impact of the collaboration extends beyond just Masdar City, as it could set a precedent for similar partnerships with other free zones across the UAE. By allowing companies established in these zones to acquire freehold properties in Dubai, the deal may become a template for expanding the emirate’s real estate portfolio to a wider range of international businesses. This would further diversify Dubai’s economy, making it more resilient to external market fluctuations and better positioned for future growth.

The MoU is also aligned with the Dubai Land Department’s efforts to provide a comprehensive regulatory framework that ensures transparency and ease of investment. By streamlining the process for companies seeking to buy real estate in Dubai, the agreement simplifies procedures that may have previously been perceived as barriers to entry, thereby improving the investment climate in the city.

As global markets continue to shift and adapt to new economic realities, Dubai remains at the forefront of innovation in property ownership models. With its unique approach to offering a blend of residential, commercial, and industrial opportunities, the city continues to cater to a wide range of investors, both local and international.

The collaboration between Dubai Land Department and Masdar City reinforces the UAE’s strategy of creating an attractive and dynamic environment for business, while also ensuring sustainable growth. With the expanding role of free zones in driving the nation’s economy, this move is expected to provide tangible benefits for both Masdar City tenants and the wider Dubai real estate market, positioning the emirate as a leader in global real estate investment.

UAE equity capital markets are poised for an uptick in activity, with Citi forecasting three to five initial public offerings by 31 December—assuming timely regulatory clearance and robust pre‑marketing, said Rudy Saadi, Citi’s managing director and head of MENA Equity Capital Markets. This comes amid renewed investor enthusiasm as the nation positions itself as a regional IPO hub.

Saadi noted that although privatisations have slowed, market sentiment remains firmly positive for the remainder of 2025 and into early 2026. The expected pipeline includes a mix of family‑owned concerns and state‑affiliated enterprises alongside follow‑on offerings from listed firms.

Delivering context, UAE exchanges have tapped international and domestic liquidity in recent quarters. Spinneys and Alef Education raised $375 million and $515 million, respectively, in the second quarter, channelling nearly $890 million overall through new IPOs. Dubai and Abu Dhabi exchanges continue to push private‑sector listings, underscoring wider capital‑markets evolution.

Citi’s optimism is reinforced by Bloomberg’s observation of renewed momentum in regional share sales heading into H2 2025. The uptick appears linked to improved regulatory frameworks, deeper secondary‑market liquidity and evolving investor appetite across institutional, family‑office and retail segments.

Market analysts point to several emerging trends. Firstly, regulatory authorities in both Dubai and Abu Dhabi are progressively enhancing governance and foreign‑ownership rules to attract global participants. UAE entities now find listing conditions more competitive compared with established markets in Europe or the US.

Secondly, a shift is apparent from state privatisations to private‑sector flotations. Family‑owned businesses and tech‑focused enterprises are now stepping into the spotlight—supported by increasing liquidity and appetite from international institutional investors.

Thirdly, follow‑on share sales are gaining traction, offering listed firms a refundable route for fresh capital without navigating a full IPO process. Analysts expect more such offerings in sectors including financial services, healthcare and logistics, reflecting healthier balance sheets and growth trajectories among UAE firms.

Beyond sheer numbers, quality is a key consideration. Saadi indicates that approval pace and pre‑marketing success are decisive factors. In prior cases, such as Spinneys and Alef Education, strong institutional subscription signalled robust investor interest—suggesting forthcoming listings may mirror this level of demand.

Banking and asset‑management houses in the region—among them Citi, EFG Hermes and Emirates NBD Capital—are reportedly managing a cohort of potential issuers. EFG Hermes projected a busy second half of 2025 across Saudi Arabia and the UAE, with several consumer‑focused businesses preparing to list.

This momentum positions the UAE to lead IPO activity across the Middle East. In 2024, Gulf IPO volumes reached multi‑billion‑dollar levels; UAE exchanges, buoyed by sizeable debuts like Talabat’s Dh1.6bn listing in November 2024, claimed top status in IPO fundraising for three consecutive years.

Looking ahead, investor appetite appears steady, albeit cognisant of broader economic headwinds, including global interest‑rate trajectories and geopolitical uncertainties. Saadi stressed the significance of sentiment over macroeconomic factors when gauging regional appetite, citing Middle Eastern equity capital market resilience.

Key players set to define the coming wave include family‑owned conglomerates deliberating partial listings, firms in consumer and tech verticals exploring exit paths, and existing public companies seeking growth capital via follow‑on offerings. Leading financial houses continue to harmonise local issuers with global investor pools.

Etihad Airways has surpassed the 20 million annual passenger mark for the first time, boosted by strong first-quarter profit and rising customer satisfaction. The airline’s operating fleet now exceeds 100 aircraft as it intensifies its global expansion and pursues ambitious 2030 targets.

Etihad posted a Q1 profit after tax of AED 685 million, a 30 per cent increase compared to the same period last year. Total revenue rose 15 per cent, supported by growth in both passenger and cargo operations. Passenger revenue alone increased by 16 per cent to AED 5.5 billion, reflecting stronger demand and enhanced flight frequency. The carrier flew 5 million passengers in the quarter, a 16 per cent jump year‑on‑year, with a solid load factor of 87 per cent.

Over the past 12 months, Etihad has carried more than 20 million guests—doubling its annual passenger figures in just 30 months—and is now regarded as the fastest-growing airline in the region. Chief Executive Antonoaldo Neves described this milestone as evidence of “sustained growth driven by expanding demand, a dynamic global network, and a clear strategic focus”.

Customer satisfaction surged to record highs, with Q1 scores up 20 per cent versus a year ago. The airline attributed this to refreshed lounge and inflight menus, improved digital services, high-speed Wi‑Fi, and a revamped website and mobile app.

Etihad’s fleet currently comprises over 100 aircraft, including the return of its seventh Airbus A380 and the delivery of a Boeing 787‑9 with an Emirati crew, alongside its first of three Airbus A350‑1000s. A further 18 aircraft are expected in 2025, highlighted by the introduction of the A321LR narrow‑body fleet on 1 August, which will feature private First Suites, lie‑flat Business seats, 4K entertainment screens, and high‑speed Wi‑Fi across all cabins.

The airline has added 27 new routes so far in 2025 and plans to operate nearly 90 destinations by year‑end. These network additions form part of Etihad’s longer-term strategy to expand its global footprint to over 125 destinations and grow its fleet to more than 170 aircraft, with the aim of carrying 38 million passengers annually by 2030.

Operational efficiency gains also strengthened Etihad’s balance sheet. EBITDA rose 32 per cent to AED 1.4 billion, yielding a 21 per cent margin, while net leverage improved to 1.1×, down from 1.9× in March 2024. Cash flow from operations reached AED 1.8 billion, an 11 per cent improvement.

These developments follow a broader resurgence at Etihad. The carrier turned around from consecutive annual losses of recent years to report a record USD 476 million profit in 2024, flying 18.5 million passengers that year—a 32 per cent increase—and generating revenue of nearly USD 6.9 billion. The Q1 results affirm progress in cost optimisation, network rationalisation and fleet modernisation initiated under CEO Neves since taking the helm in 2022 under Abu Dhabi sovereign fund ADQ.

Looking ahead, Etihad plans to sustain delivery of 20-plus new aircraft annually, including further Boeing 787s and Airbus A350s, to meet projected demand. It is also preparing infrastructure and service upgrades connected to Abu Dhabi’s Zayed International Airport, whose terminal expansion tripled annual capacity to 45 million passengers, reinforcing the city’s role as a global hub.

On the route front, 16 further destinations have been announced for 2025, complementing an already swift rollout of 27 new routes. The A321LR rollout from August will unlock First Class on single‑aisle sectors, with an upgraded passenger experience including concierge transfers, chauffeur services and luggage‑free travel in Abu Dhabi.

Etihad’s turnaround, driven by disciplined execution of its “Journey 2030” strategy, has paid off. With record profits, growing customer satisfaction and a fleet age structure among the youngest globally, the airline is moving ahead of Gulf competitors as a stronger, customer‑centric global carrier.

The National Centre of Meteorology issued an advisory este morn for southeasterly winds gusting up to 40 km/h across the UAE, leading to heavy dust and sand lifting in internal and coastal areas. The conditions are expected to significantly reduce horizontal visibility—at times below 2,000 metres—between roughly 08:45 and 17:00. Abu Dhabi Police cautioned motorists to drive with care, maintain low speeds, and avoid distractions like using phones or filming while on the move.

Winds forecast for the day have already led to hazy skies over urban centres, with dust clouds drifting across highways and neighbourhoods. Officials warn that compromised visibility on roads will heighten accident risks, prompting emergency services to remain on alert.

Abu Dhabi Police reinforced the message, urging:

“Drivers to remain alert and reduce speed … For your safety and the safety of others on the road, please avoid using mobile phones or taking videos while driving.”

The statement formed part of a broader appeal urging residents to secure outdoor items and stay informed via official channels.

High winds sweeping the region echo seasonal patterns observed in previous years. The meteorological phenomenon known as “Shamal” brings northwesterly gusts that whip up desert dust, especially during summer’s peak between April and October. These episodes often downgrade visibility to well under 2 km. In fact, storms recorded in 2008, 2009 and 2010 show how recurrent and sudden these events can be.

An Abu Dhabi dust storm struck last Thursday, when winds triggered restricted visibility and led authorities to issue similar warnings earlier in July. The NCM had foreseen rough sea conditions in the Arabian Gulf, cautioning mariners of choppy waters and advising against unnecessary travel offshore.

Studies by geophysics experts at Khalifa University and warnings from the World Meteorological Organization indicate that shifting climate patterns may be contributing to increased dust frequency in the Gulf, with “early summer and late winter” transitions becoming more pronounced.

Commuters in Abu Dhabi, Dubai, Al Ain and Sharjah were met with drifting dust obscuring visibility, particularly on highways and arterial routes. Between 1 pm and 3 pm yesterday, multiple reports noted local visibility dropping below 1 500 metres near Dubai International Airport and adjacent roadways.

Transport authorities are urging drivers to obey reduced speed limits displayed on overhead electronic boards, as fine particles may settle on windshields, diminishing visibility further. School bus operators, logistics firms, and delivery services have been advised to take precautions or suspend outdoor activities until conditions improve.

Indoor spaces and construction sites are under advisory to ensure dust mitigation measures are in place, including sealing entrances and using air filtration systems. Medical professionals have also warned individuals with respiratory concerns to limit outdoor exposure and keep medications close at hand.

The repeated advisories align with broader international efforts to establish regional early-warning systems. During last spring, the World Meteorological Organization highlighted Saudi Arabia’s leadership in a Gulf-wide sand and dust storm monitoring initiative.

Given the projected continuation of these conditions into the evening, motorists and residents are advised to remain alert. The police statement urged community action:

“For your safety and the safety of others … please avoid using mobile phones or taking videos while driving.”

The pattern of such weather events reflects the UAE’s climate trends, where extreme heat, strong winds, and suspended dust become frequent during the summer months. These conditions contribute to regional cautionary measures and highlight the interplay between natural climate cycles and growing urban risk exposure.

Abu Dhabi investment giant IHC has finalised the acquisition of eFunder, the digital invoice-financing platform, marking a decisive move into fintech for small and medium enterprises. The platform has been renamed Zelo and is targeting a $250 billion shortfall in SME credit across the Middle East and North Africa. It converts outstanding invoices into cash within 24–48 hours, and has already processed more than 9,000 transactions, deploying over $200 million in funding.

The deal enhances IHC’s strategy to diversify its portfolio into high-growth financial technologies. Zelo will now operate under IHC’s fintech and future-economy division, reinforcing Abu Dhabi’s ambitions as a leading regional hub for digital finance. According to the Abu Dhabi Global Market’s Financial Services Regulatory Authority, Zelo holds a full operating licence, enabling rapid scale across construction, logistics, healthcare, industrial services, and oil and gas industries.

Zelo’s founders, Deepak Sekar and Dhanush Arjun, launched the platform in August 2020 with a mandate to improve access to working capital for SMEs. It gained full FSRA regulatory approval after obtaining in-principle licence in early 2021. The platform achieved more than $100 million in financing across 6,000 transactions during its initial phase, before surpassing $200 million through 9,000-plus deals.

IHC chief executive Syed Basar Shueb emphasised the strategic importance of the acquisition: “SMEs are the backbone of a diversified and future‑ready economy. Through our strategic acquisition of Zelo, we are proud to support a platform that solves one of the most fundamental barriers facing SMEs, access to timely working capital.” He added the rebrand signals “a confident new chapter… aligned with IHC’s long‑term vision of building smart, scalable solutions and dynamic value networks that deliver real and lasting economic impact”.

Dhanush Arjun, CEO of Zelo, reinforced this message, stating: “Zelo exists to eliminate the wait. The wait for payments, the wait for growth, the wait for opportunity. … With IHC’s strategic backing, we’re accelerating that future.” He stressed that converting approved invoices into liquidity within 24–48 hours allows SMEs to avoid the cash flow bottlenecks that often hamper growth.

A study by the World Bank indicates that SMEs in emerging markets often wait between 60 and 120 days to receive invoice payments, inhibiting their capacity to expand or invest in new ventures. IHC’s acquisition directly addresses this challenge by offering digital-first funding with underwriting powered by AI-driven risk scoring and performance analysis.

Regional analysts observe that IHC’s move comes amid intensifying competition in the MENA fintech landscape. State-backed investors and sovereign wealth funds have been increasingly backing financial‑technology startups to accelerate digital transformation. The acquisition strengthens IHC’s position alongside peers in Abu Dhabi and Dubai, including Mubadala’s fintech interests and ADQ-backed projects.

IHC’s publicly listed status on the Abu Dhabi Securities Exchange and its recent earnings report highlighted a strategic pivot towards non‑oil sectors—spanning fintech, AI platforms, decarbonisation, and reinsurance. Zelo’s integration underscores this shift, offering synergies with IHC’s digital economy ambitions.

Within its ADGM base, Zelo plans to roll out new revenue‑based finance products, addressing future receivables in addition to existing invoice financing. The platform aims to expand its geographic footprint beyond the UAE, eyeing expansion into other MENA markets with acute SME credit gaps.

Zelo’s backers include both institutional and private-sector investors. Prior to acquisition, it closed a US$16.5 million Series A round led by IHC in September 2024, secured a multi‑year credit commitment, and earned recognition as a “Future 100 Startup” by the Ministry of Economy and a Deloitte Rising Star.

Market commentators describe this phase as a potential inflection point for fintech in the region. “Invoice finance is one of the fastest routes to unlocking SME potential, and Zelo is well‑positioned,” said a senior analyst. “With IHC’s capital and ecosystem support, rapid scaling is likely.”

Zelo’s existing performance traces a compelling upward curve—it started by funding e-commerce merchants and delivery‑aggregator vendors, then expanded to broader commercial invoices. Its AI‑based underwriting and automated platform enable pre‑approval decisions within 10 minutes and deployment in under 48 hours.

Other regional platforms, such as Dubai’s Beehive and Finvolve, have adopted peer‑to‑peer and supply‑chain financing models. Zelo’s integration through a major listed conglomerate differentiates it through access to IHC’s expansive corporate network and potential for cross‑sector collaboration across its portfolio.

IHC’s LinkedIn statement confirmed completion of the acquisition and rebrand, affirming the company’s commitment to “fintech innovation and SME enablement across the UAE”. The platform’s regulatory credentials, track record and ambition illustrate why it emerged as the firm’s fintech flagship.

Analysts expect Zelo to deepen its product scope in the coming months, potentially introducing dynamic funding and revenue finance solutions. They anticipate that further geographical rollout across GCC and North African markets could begin in early 2026, leveraging ADGM’s regulatory passporting as the platform scales beyond domestic boundaries.

Uber Technologies and Baidu Inc. have confirmed a multi‑year strategic alliance to bring Baidu’s Apollo Go autonomous robotaxis to markets beyond the U. S. and mainland China, initiating the programme later this year in select cities across Asia and the Middle East. The new service, integrated into the Uber app, will offer riders the option to choose fully driver‑free vehicles powered by Apollo Go’s advanced AI systems.

Apollo Go currently operates the world’s largest driverless ride‑hailing network, with more than 1,000 fully autonomous vehicles deployed across 15 cities—including Dubai and Abu Dhabi—and over 11 million rides completed as of May 2025. The expansion, announced on 15 July 2025, marks a significant move by Uber as it intensifies its foray into autonomous vehicles, supplementing existing partnerships with other AV developers such as Waymo, Pony AI, WeRide, May Mobility, Volkswagen and Avride.

Uber CEO Dara Khosrowshahi described the venture as a decisive milestone: “This partnership brings together two of the world’s most iconic technology companies to help shape the future of mobility. As the world’s largest platform of its kind, spanning mobility, delivery, and freight, Uber is uniquely positioned to help AV leaders like Baidu bring their autonomous technology to the world.” Baidu’s co‑founder and CEO Robin Li added that integrating Baidu’s autonomous driving technology with Uber’s network represents “a major milestone in deploying our technology on a global scale,” aimed at delivering safe, efficient and cost‑effective transport to a wider audience.

Market response to the announcement has been positive: Uber’s shares rose more than 1 % in pre‑market trading in the U. S., while Baidu’s U. S.‑listed stocks surged almost 5 %, reflecting investor confidence in the deal’s potential to accelerate autonomous mobility adoption worldwide.

The initial deployment targets key cities in Asia—potentially including Singapore and Malaysia where Baidu plans to launch Apollo Go this year—and in the Gulf region, where regulatory environments are favourable and infrastructure is supportive. Recent reports highlight that Gulf countries such as the UAE and Saudi Arabia aim to have at least 25 % of transport in major cities autonomous by 2030‑2040, presenting a promising opportunity for robotaxi services.

Analysts view the Uber‑Baidu partnership as a pivotal step in global AV expansion. By entering markets outside its core regions, Baidu leverages an “asset‑light” international strategy driven by collaboration instead of proprietary platforms. Uber gains immediate access to a proven self‑driving fleet without the development time and costs associated with in‑house technology, bolstering its competitiveness in the robotaxi space, particularly against rivals like Lyft and Waymo.

Safety and regulatory scrutiny remain top concerns. Apollo Go’s record of over 11 million rides with a robust safety profile strengthens public and regulatory confidence. Still, each market’s regulatory readiness varies, requiring phased live testing and strong oversight to meet local licensing standards.

Financially, the deal promises dividend benefits. By significantly increasing supply of robotaxis through Uber’s platform, Baidu stands to accelerate revenue from its autonomous segment, potentially addressing investor concerns over its core advertising business. Uber, which has seen its stock climb 56 % this year, reinforces its diversification into autonomous and freight services ahead of its Q2 earnings report scheduled for 6 August.

Competition is heating up. The Gulf region already hosts partnerships between Uber and Chinese AV firms such as Pony AI and WeRide, both of which are conducting trials or planning roll‑outs in Dubai and Abu Dhabi. Baidu’s entry into this competitive space joins a growing group of Chinese robotaxi operators—such as Pony AI, AutoX, DiDi and WeRide—vying for global market share.

While the United States and mainland China remain outside the deal’s scope—due to complex regulatory frameworks and entrenched competition—Uber and Baidu have hinted at future expansions into Europe and Oceania, suggesting a long‑term global vision. Baidu’s ongoing engagement with European regulators, including Switzerland and Turkey, supports predictions for expanded rollout later this year.

GCC countries secured $3.4 bn from 24 initial public offerings in the first half of 2025, down 6% from $3.6 bn over 23 listings a year earlier, according to a report by Kuwaiti research firm Markaz. Saudi Arabia drove the surge, contributing $2.8 bn through 22 IPOs—an increase of 36% year‑on‑year—while the UAE and Oman saw more subdued performances.

Oil‑price volatility, US tariff threats and global trade uncertainty weighed on market sentiment, but issuance volumes rose. The number of offerings edged higher to 24 from 23 in H1 2024, illustrating issuer appetite amid wider economic headwinds.

Saudi listings captured 85% of the total proceeds, reinforcing its dominance in the regional IPO pipeline. The Kingdom raised $2.8 bn, up from $2.1 bn in the first half of 2024, with 22 issuances compared to 19 a year ago.

The UAE saw a substantial 88% drop in IPO proceeds, with just one public offering—Alpha Data—raising $163 m in Abu Dhabi. Oman followed with the debut of Asyad Shipping Company, generating $333 m on the Muscat bourse. No IPOs were recorded in Kuwait, Qatar or Bahrain during this period.

Sector analysis reveals the industrials segment led with $1.4 bn in proceeds, bolstered by Flynas and Asyad Shipping Company. Real estate followed with demand for development and construction offerings, while healthcare IPOs collected $505 m. Financial services and technology contributed $408 m and $204 m respectively.

Performance after listing was mixed. Ten of the 24 companies saw positive returns by the end of June. Asyad Shipping led the pack, with its stock surging 835% since its March 12 listing. Umm Al Qura in Saudi Arabia recorded a 51% gain. On the downside, Hedab Alkhaleej, Dkhoun National Trading and Service Equipment fell by 30%, 27% and 26% respectively. Flynas edged slightly lower by 0.2%, despite an initial dip.

Wider equity market performance across the region showed divergence. Kuwait’s bourse rose 18.1% year‑to‑date, followed by Dubai, Abu Dhabi and Qatar, while Oman, Bahrain and Saudi Arabia retreated by 1.7%, 2.1% and 7.6% respectively.

Geopolitical shocks—including renewed US tariff threats and oil price fluctuations— exerted pressure on national indices. On Monday, Saudi Arabia’s Tadawul shed 0.2%, while Dubai, Abu Dhabi and Qatar all fell in the range of 0.3–0.5%. Investors are watching US inflation signals and Fed decisions closely, given the peg of Gulf currencies to the dollar.

Despite softer proceeds overall, the strong issuance tally suggests issuers seized a narrow window before heightened uncertainty. A PwC analysis of Q1 showed GCC IPOs rose 33%, raising $1.6 bn from 11 deals, with Saudi Arabia capturing nearly 70% of that total.

Looking ahead, Saudi Arabia is expected to maintain momentum, driven by privatisation efforts and a diverse pipeline of government-linked listings led by the Public Investment Fund. The UAE is projected to ramp up activity in industrials and tech, while Kuwait is implementing regulatory reforms to stimulate listings.

Market analysts caution that global headwinds remain. PwC flagged how tariff announcements and macroeconomic instability continue to disrupt IPO sentiment globally. Within the GCC, sustained oil-price volatility and tightening monetary conditions add complexity.

Nevertheless, Gulf capital markets have demonstrated resilience. Encouraged by diversified sector participation and healthy post-listing gains, policymakers and market participants appear poised to capitalise on remaining windows of stability.

Abu Dhabi’s Mubadala Investment Company, Partners Group, GIC and TPG Rise Climate have agreed a €6.7 billion deal to acquire Techem, the Frankfurt-based energy‑efficiency firm, in a strategic move poised to reinforce digital-first submetering and sustainability in European real estate.

The transaction—set to conclude in the second half of 2025, pending regulatory approvals—will see Partners Group’s infrastructure arm retain a controlling stake, while Mubadala, GIC and TPG Rise Climate take minority positions alongside, marking a rotation in ownership strategy. The sale ends the tenure of the prior consortium including La Caisse and Ontario Teachers’ Pension Plan, which supported Techem since 2018.

Techem, founded in 1952 and based in Eschborn, operates in 18 countries and serves more than 440,000 customers with over 13 million dwellings under its care. Approximately 62 million devices are currently installed across its footprint.

Under Partners Group’s 2018 private equity-led acquisition, Techem grew its sales beyond €1 billion and increased EBITDA by nearly 50%. This expansion solidified its role as a leading provider of submetering services—a crucial component in the decarbonisation of real estate, a sector responsible for around 40% of global CO₂ emissions.

The new ownership strategy aims to deepen digital integration, expand offerings to include smart meters, and capitalise on evolving regulations, rising energy prices and corporate net-zero commitments. “Techem is at the forefront of energy services and is uniquely positioned to drive energy efficiency within the real estate sector,” noted Boon Chin Hau, CIO of GIC Infrastructure, underscoring the group’s confidence in Techem’s strategic outlook.

Abdulla Mohamed Shadid, Head of Energy and Sustainability at Mubadala’s private equity platform, emphasised the importance of helping find solutions to global challenges, reflecting the company’s ongoing shift toward purpose-driven capital deployment. Implementation will include further digitalisation of operations and service expansions tailored to improve building efficiency.

This deal, valued at €6.7 billion, ranks among the year’s largest private‑market transactions globally.

Techem’s technology deploys submetering for heating and water, enabling accurate billing and encouraging lower consumption. Their low‑investment, non‑invasive approach aligns well with landlords and property owners seeking cost-effective energy solutions. Trends in European regulation and growing pressure on emissions reduction give the firm a favourable market tailwind—a factor the new consortium appears ready to exploit.

Despite an earlier attempt by TPG to buy out Techem independently in October 2024, that bid fell through after EU antitrust scrutiny. The current agreement reflects a more collaborative structure that shares risk and maintains continuity under infrastructure stewardship.

Commenting on continuity, Techem’s CEO Matthias Hartmann stated that the company’s strategic direction would remain unchanged, emphasising a steady course under the incoming partners.

The transaction parallels broader investment patterns in smart‑energy firms. Over the past year, GIC has partnered with investors such as EQT to acquire UK smart‑meter provider Calisen—a sign of growing interest in climate‑aligned infrastructure.

With assets under management spanning global private markets, Partners Group leads the infrastructure side with over US$27 billion, while Mubadala and GIC bring sovereign-backed financial clout, and TPG Rise Climate adds dedicated impact‑investment expertise; together they form a powerful alliance geared towards scaling energy efficiency across European real estate.

Dragon Oil’s board has named Abdulkarim Ahmed Al Maazmi as Acting Chief Executive Officer, entrusting him with steering the company’s strategic trajectory. With a career spanning more than four decades in the oil and gas sector, he succeeds Ali Rashid Al‑Jarwan—CEO since March 2017—in a leadership transition that signals continuity in the firm’s pursuit of global growth.

Al Maazmi joined Dragon Oil, a wholly owned subsidiary of Emirates National Oil Company, in May 2018 as Executive Director of Exploration & New Ventures, overseeing operations across the MENA region. Prior to that, his career included senior roles that shaped key upstream strategies, including serving as President and General Manager of BP UAE in July 2011. There he led partnerships with ADNOC and the Government of Sharjah and oversaw approximately 235,000 barrels per day of oil production.

Board members acknowledged Al Maazmi’s “high‑calibre leadership and strategic vision” as critical to guiding Dragon Oil’s established assets in Turkmenistan, Egypt and Iraq, as well as its commitment to operational excellence, safety and sustainability. The LinkedIn announcement highlights his appointment as “reflecting continued commitment to operational excellence, safety, sustainability, and expanding our global footprint in support of energy security and economic development”.

During his tenure, Al Maazmi steered major strategic projects. In Turkmenistan, he played a pivotal role in projects within the Cheleken Contract Area, consolidating Dragon Oil’s productive presence there since 2000. He also guided initiatives in Egypt’s Gulf of Suez through the GUPCO joint venture and advanced development in Iraq’s Block 9 in partnership with EGPC and KEC.

Stakeholder relations have also been a hallmark of his career. Between 2011 and 2016, Al Maazmi served on the boards of regional energy firms such as ADCO, ADMA, ADGAS, NGSCO and Bunduq Abu Dhabi, and contributed to governance at the Petroleum Institute and the Emirates National Development Program. His track record in negotiating concession renewals and delivering results in multicultural environments underlines his diplomatic and managerial prowess.

In his new leadership role, Al Maazmi inherits a portfolio that includes mature fields like those in Turkmenistan’s Caspian Sea, growth-led projects in the Gulf of Suez, and exploration ventures in Iraq. Observers anticipate his emphasis will include reinforcing localisation and succession planning—as promoted by the UAE government—while also aligning operations with global decarbonisation goals and emerging regional dynamics.

Colleagues report his approach blends technical depth with empowerment of multi‑disciplinary teams, underpinned by an accountability-focused mindset. This ethos was celebrated during a Dragon Oil town‑hall in July 2025 under the theme “One Team, One Vision”, where Al Maazmi emphasised collective effort in achieving strategic aims across Dubai headquarters and field sites.

Industry analysts view the appointment as timely. As upstream players adjust strategies amid evolving energy demand and geopolitical shifts, leadership continuity becomes a critical asset. Al Maazmi’s elevation reflects Dragon Oil’s desire to maintain momentum in long‑standing assets while exploring new areas of growth and innovative technologies.

His stewardship is also expected to further strengthen Dragon Oil’s ties with host governments. A meeting in late 2024 between Al Maazmi and Turkmenistan’s deputy prime minister reinforced state-level confidence in Dragon Oil’s capacity to deliver mutual benefits. Such relationships are vital as the company aims to balance production targets with evolving energy policies.

This leadership transition also aligns with ENOC’s broader strategy to position Dragon Oil as a national champion in upstream operations. As acting CEO, Al Maazmi is likely to champion projects that balance commercial returns with the UAE’s sustainability and security objectives, while also nurturing domestic talent through Emiratisation and professional development initiatives.

With over forty years in the industry and an extensive track record—from field production to corporate governance—Abdulkarim Al Maazmi emerges as a poised leader for Dragon Oil’s next chapter. His appointment signals a commitment to operational resilience, international collaboration and long‑term value creation in a sector grappling with transformation.

UAE’s new Comprehensive Economic Partnership Agreement with Azerbaijan has catapulted bilateral non‑oil trade to unprecedented levels, now accounting for half of Azerbaijan’s commerce with Gulf Cooperation Council countries. This landmark pact promises to mould economic trajectories for both nations by 2031.

Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, revealed that non‑oil trade surged by 36.2 percent in 2024, reaching US $2.24 billion—equivalent to 50 percent of Azerbaijan’s trade with the GCC. This accomplishment is underpinned by a robust 4.1 percent expansion in Azerbaijan’s overall GDP and a 6.3 percent rise in its non‑oil sector.

Signed in Abu Dhabi with the presence of UAE President Sheikh Mohamed bin Zayed Al Nahyan and Azerbaijani President Ilham Aliyev, CEPA is expected to inject US $680 million into UAE GDP and US $300 million into Azerbaijan by 2031. It further cements the UAE’s status as Azerbaijan’s top Arab investor, with cumulative UAE investments now exceeding US $1 billion.

The CEPA supports strategic priorities in manufacturing, automotive, agriculture, logistics, and financial services, with planned expansion of UAE investments in energy and renewables via state-owned giants ADNOC and Masdar. Masdar’s portfolio in Azerbaijan is set to exceed 1.2 GW by 2027 following a 4 GW renewables agreement including solar and hydrogen projects.

This accord also aligns with broader UAE ambitions under its CEPA programme, aimed at achieving US $1.1 trillion in non‑oil trade by 2031. Already, the initiative delivered a record US $816 billion in 2024, marking a 14.6 percent year-on-year increase, and positions the UAE as having 27 CEPA agreements with markets comprising over one‑quarter of global population.

Beyond trade figures, CEPA signifies a strategic push to diversify UAE exports and deepen supply‑chain resilience. It enables Azerbaijani goods access to Gulf and global markets, while encouraging UAE capital deployment in Eastern Europe via Azerbaijan’s Gateway logistics advantage. Sectors like food security, real estate, and logistics are flagged for development across both economies.

Financial cooperation is gaining momentum too. Talks between Azerbaijan’s Central Bank and Abu Dhabi Securities Exchange may lay groundwork for capital-market linkages. Additionally, Azerbaijani remittances to UAE saw a 52.1 percent rise in Q1 2025, reaching US $18.8 million.

Humanitarian and environmental collaboration with CEPA includes UAE support for demining through Azerbaijan’s Mine Action Agency and joint efforts during COP summits.

CEPA is poised to enrich private‑sector ties, particularly for SMEs, while also strengthening tourism links—highlighted by over 185 monthly flights connecting the UAE and Azerbaijan. Earlier cooperation has boosted non‑oil trade 43 percent in 2024 to about US $2.4 billion.

In the energy domain, strategic joint ventures have been flourishing. ADNOC holds a 30 percent stake in Azerbaijan’s Absheron project, and SOCAR reciprocated with oil‑field stakes in UAE territory. Renewable efforts include a 445 MW solar plant in Bilasuvar and a 315 MW installation in Neftchala under Saudi-UAE investment.

UAE’s Ministry of Energy and Infrastructure has restated its unwavering aim to lift crude oil production capacity to five million barrels per day by 2027 amid shifting global energy demand. The clarification from Abu Dhabi follows remarks from the Energy Minister indicating potential capacity growth beyond that goal.

Aligned with its declared strategy, the nation insists the 5 million bpd target remains intact. Energy Minister Suhail Mohamed al‑Mazrouei, speaking at the Opec International Summit in Vienna, emphasised the UAE could scale up to six million bpd if global markets required—while making clear this figure is not an official target.

Presently, UAE’s production capacity stands at around 4.85 million bpd. The ministry’s public affirmation underscores long‑established plans by Abu Dhabi National Oil Company to align with wider economic imperatives, including state‑led diversification and responsible growth.

On the sidelines in Vienna, Minister al‑Mazrouei pointed to oil inventories that have not surged, interpreting it as evidence of sustained market demand. He characterised the additional million barrels potential as a proactive choice, contingent on demand, rather than a binding pledge.

Opec+ has already increased the UAE’s production quota this year, acknowledging its heavy investment in expanding capacity from 3 million to 4.85 million bpd. That quota adjustment reflects a bid to balance output with capacity and avoids penalising investment-led increases.

Global energy forecasts cited at the summit envision oil demand climbing by nearly 19 percent to 123 million bpd by 2050, driven by economic growth, urbanisation, and energy‑intensive industries such as artificial intelligence. Despite this, Opec has revised its short‑term forecast downward amid signs of slowing demand in China. Long‑term growth, however, is expected from regions including Asia, the Middle East and Africa.

ADNOC’s accelerated expansion plan—bringing forward its 5 million bpd capacity objective from 2030 to 2027—was endorsed by the board under the leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, supported by CEO Sultan Ahmed Al Jaber. The strategy forms part of a broader state-led drive combining energy security with economic diversification and sustainability.

While bolstering its crude oil output, ADNOC is also investing heavily in low‑carbon solutions. It allocates about US $5 billion annually to clean energy and has set a net‑zero emissions ambition for 2045. The company is integrating solar and nuclear power into offshore fields and is implementing carbon‑capture technologies in major developments.

ADNOC’s low-carbon division recently acquired Germany’s Covestro for US $16 billion, signalling a move to diversify into value‑added petrochemicals such as plastics, foams and ammonia. Its strategy foregrounds gas, chemicals and downstream operations alongside oil capacity growth, in anticipation of structural shifts in global energy use.

The UAE is poised to become the world’s fourth-largest oil and liquids producer if the anticipated expansion is achieved, trailing only the United States, Saudi Arabia and Russia. At six million bpd capacity, it would surpass producers such as Canada, China, Iraq and Iran in scale.

However, uncertainties remain. The pace of global energy transition, the adoption of renewables, and potential peaking of oil demand—especially in China—pose risks to long-term strategy. But the UAE appears ready to hedge by maximizing flexibility: build for five million bpd, yet leave room to stretch if markets demand.

The public reaffirmation by the ministry serves both domestic and international audiences: showcasing earnest delivery of targets, reassuring investors on energy stability, and reinforcing the UAE’s position as a stabilising force within Opec+.