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First Half

Tensor is unveiling its Tensor Robocar at the Dubai World Congress for Self-Driving Transport 2025, positioning it as the first Level 4 autonomous vehicle designed for individual ownership. The firm says the Robocar combines over a decade of proprietary engineering with an AI architecture engineered from the ground up to deliver privacy, safety and autonomy. Customer deliveries are scheduled for the second half of 2026.

Tensor describes Level 4 autonomy as allowing the vehicle to handle all driving tasks under defined conditions without human supervision, though manual override remains possible outside those zones. Some of its standout hardware includes in excess of 100 sensors ‒ 37 cameras, 5 lidars, 11 radars ‒ and features such as radar-transparent materials, a low hood profile, washer systems for sensors and intelligent covers to protect against harsh environments like desert dust. The AI stack is based on a foundation model that uses real-world and simulated data, with dual systems for fast reflexive response and reasoning in complex or rare scenarios.

The Robocar’s interior includes novel features such as a folding steering wheel and retractable pedals so that when operating in full autonomous mode, the driver’s control elements are stowed. It also supports autonomous parking and charging, offers continuous self-diagnosis even when offline, and uses a privacy-first data architecture. Data is stored and processed locally with encrypted access, and physical privacy controls — such as camera and microphone switches — are built in.

Safety and regulatory compliance are central to Tensor’s strategy. The company claims the Robocar is built to meet or exceed global automotive safety standards, including UN/ECE regulations, FMVSS, and standards applicable in the Gulf Cooperation Council region. It is seeking high ratings from institutions such as Euro NCAP, IIHS and US NCAP. Redundancy in sensors, compute, power, communications, drive-by-wire systems, and thermal management is built in to avoid single points of failure.

Tensor is headquartered in San Jose, with additional offices in Barcelona, Singapore and Dubai. It has separated from its earlier operations in China, emphasizing that its ownership and operations are controlled by US employees, though it has global investors including from the UK, Japan and Korea.

Binghatti Holding Ltd, a Dubai-based developer, has initiated steps toward an initial public offering in the United Arab Emirates, as it looks to harness momentum from a strong real estate market climb. The company is in discussions with banks to assist in going public, according to persons with knowledge of the matter who spoke under condition of anonymity. A spokesperson declined to comment, calling the IPO talk “market rumour and speculation.”

Earnings performance is underpinning the move. For the first half of 2025, Binghatti reported a net profit of AED 1.82 billion, up 172 percent year-on-year. Total sales rose 60 percent to AED 8.8 billion, while revenue jumped about 189 percent to AED 6.3 billion. These figures reflect strong demand for its residential offerings.

Non-resident buyers are accounting for a growing share of Binghatti’s business, with about 61 percent of sales in H1 2025 coming from outside the UAE. That shift underscores Dubai’s continued appeal to international investors.

This potential IPO follows recent capital market activity by Binghatti. It issued a USD 500 million Sukuk under its USD 1.5 billion Trust Certificate Issuance Programme; the offering was oversubscribed by five times, with orders exceeding USD 2.5 billion from regional and global investors.

In June, Binghatti launched an asset management arm, Binghatti Capital, based in Dubai International Financial Centre and regulated by the DFSA. The new entity is targeting roughly USD 1 billion in assets under management, focused on Sharia-compliant real estate investment and private credit strategies.

Several analysts view the IPO bid as a strategic move to broaden funding sources beyond debt and sukuk, enable more institutional investment in the company, and leverage its rising profile. Real estate analysts note that the surge in demand—both domestic and foreign—is creating a favourable window for property players to tap equity markets. Oversupply concerns persist in some segments of Dubai’s housing market, but differentiated developers like Binghatti, known for branded luxury residences and fast construction delivery, appear well positioned.

Eshraq Investments has struck sale and purchase agreements totalling AED 264 million with Blue Lake Properties and Al Ain Properties to dispose of several land plots on Al Reem Island. The move forms part of its strategy to monetise land holdings and respond to mounting financial losses.

The sale takes place in prime zones of Al Reem Island adjacent to Al Maryah Island and inside the jurisdiction of the Abu Dhabi Global Market, locations particularly attractive to developers seeking centrality and regulatory stability. The agreements bolster Eshraq’s land monetisation drive, which has become a priority as the company seeks to improve its financial footing.

Financial filings show that accumulated losses for the first half of 2025 reached AED 484.85 million, equal to 18.05% of Eshraq’s capital. That marks an improvement from a loss of AED 526.55 million at the end of 2024, helped by gains from independent valuations of assets held by Goldilocks Investments, which rose by AED 55.14 million during the same period.

Goldilocks, a key non-core investment, had its net investment value boosted to AED 827.70 million as at 30 June 2025, up from AED 772.56 million in December 2024, offering some cushion against Eshraq’s operating losses.

In its first quarter of 2025, Eshraq reported a net loss of AED 27.03 million, a sharp decline from AED 306.05 million in the same period of 2024. Revenue across its portfolio has faltered, prompting management to accelerate the disposal or development of under-utilised land.

Industry observers note that investor appetite for Al Reem Island remains strong, driven by its proximity to key business hubs, relatively favourable regulatory environment, and demand for residential and mixed‐use projects. The sale with Blue Lake and Al Ain Properties underscores that even amidst financial pressure, prime real estate in central Abu Dhabi retains market confidence.

Gemini Space Station, the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, saw its shares leap more than 32% when it began trading on Nasdaq under the ticker “GEMI”. The stock opened at $37.01, having been priced at $28, after the company raised $425 million through an initial public offering.

Gemini sold 15.2 million shares at the set price, above the originally floated range of $24 to $26 per share. Investor demand exceeded supply by over twenty times. Nasdaq also participated with a $50 million private placement simultaneous with the IPO.

The valuation placed Gemini at approximately $3.3 billion, non-diluted. After the rally, the share price settled closer to $32, still well above the IPO price but reflecting a pull-back from the intraday highs.

Gemini posted a net loss of $282.5 million for the first half of 2025, following a $159 million loss in 2024. Despite those losses, its business spans crypto exchange services, a stablecoin, and a rewards credit card product.

Regulatory developments have bolstered confidence in the cryptocurrency sector. Gemini has benefited from relaxed oversight compared with earlier years, and the IPO is seen as a signal of institutional adoption amid stronger clarity from U. S. regulators. The firm is now viewed alongside the likes of Coinbase and Bullish, both of which have gone public.

Abu Dhabi-based developer Object 1 is accelerating its expansion into the capital, using the platform of the International Real Estate & Investment Show at ADNEC to roll out its latest developments and strategic vision. Head of Business Development, Ismail Gasanov, will speak on panels addressing investment prospects for foreign nationals, sustainability, and intentional design.

The company is opening its first sales gallery in Abu Dhabi to serve investors, brokers, and homebuyers. Sales figures for Abu Dhabi’s wider real-estate sector demonstrate strong performance: Abu Dhabi Real Estate Centre reported Dh25.3 billion worth of transactions in the first quarter of 2025, a year-over-year increase of 34.5 %, with demand shifting toward lifestyle, waterfront, and premium residences.

Object 1’s growth in Abu Dhabi builds on its rapid ascendance in Dubai. With over 17 active projects, the developer has become a top-ten player in Dubai’s development landscape within just a few years. The company claims sales value jumped 188 % in the first half of 2025 compared to the same period in 2024, while transaction volume rose 157 %. Its development pipeline now exceeds 4.5 million square feet, including ALTA V1EW, its newest tower slated to rank among the tallest in Jumeirah Village Circle.

At IREIS 2025, with more than 35 exhibitors and over 2,000 investors expected, Object 1 joins Gold Sponsors such as Reportage Properties, Danube Properties, and Dugasta Properties. The show features an Investment Conference that will examine foreign investment, property law reforms, new ownership models, and how proptech, smart cities, and sustainability are reshaping the market.

Tatiana Tonu, CEO of Object 1, said that Abu Dhabi’s stable economy, high-quality infrastructure, and affluent communities continue to draw discerning investors seeking both capital growth and lifestyle excellence. The expansion into the capital reflects the firm’s long-term confidence in Abu Dhabi as a hub for design-led, sustainable developments that combine community living and investment value.

Abu Dhabi’s active development pipeline is considerable. A report by BNC Network puts the total value of active projects at about US$758.79 billion, with the urban construction component contributing some US$221.56 billion. Residential supply is increasing, with around 2,400 units already delivered in Abu Dhabi city this year; by year end, about 10,400 units are projected, and 11,000 more scheduled for delivery in 2026.

China has seen financial flows totalling about US$4.5 trillion, a figure that many analysts believe marks a turning point in how its markets are engaging with the world. The scale of cross-border investment—both inbound and outbound—is now surpassing trade in many respects, reflecting Beijing’s accelerating liberalisation efforts and a growing confidence among foreign and domestic investors.

The financial sum comprises equity, bond, and other capital movements, and corresponds with recent policy moves designed to reduce restrictions and open up China’s capital markets. One key driver is the Stock Connect programme, which allows mainland Chinese investors to purchase eligible Hong Kong–listed stocks and gives international investors access to A-shares. Southbound flows—money moving from mainland China into Hong Kong—have been especially significant, gathering close to US$100 billion within the first half of 2025. That alone matched the total stock in 2024 via that channel.

Yields on Chinese government bonds have hit highs not seen since late 2024, suggesting investors are now demanding greater returns, but also that they perceive risks such as inflation and currency pressures to be easing. The 10- and 30-year yields climbing indicates that institutions expect stabilization in key macro indicators, even if headline economic growth remains uneven. The bond market, however, has also become more volatile, driven by leveraged buying of equities and speculative pressure in certain sectors.

Another contributing factor is the behaviour of domestic institutional investors. With over 160 trillion yuan in household savings, China’s policy makers are encouraging pension funds, insurance companies, and sovereign funds to shift more capital into domestic equities. These kinds of flows reinforce the internal market strength, even as external capital enters or exits depending on global risk appetite.

Hong Kong’s IPO market has benefited greatly. Several major mainland firms—including tech and battery makers—have either listed in Hong Kong or signalled plans to do so. This has helped Hong Kong reclaim its spot among the world’s most active IPO hubs in 2025. The changes to listing rules, including shorter approval times for eligible mainland firms, have been essential in this revival.