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The GCC debt capital market is gearing up for a surge of new issuances following an active start to the year, despite a quiet period during the early days of August. With the market showing strong resilience, experts predict that the second half of the year could bring new opportunities for issuers, albeit under certain market conditions.

The first half of 2025 witnessed robust activity in the debt market, with significant bond and sukuk issuances across the Gulf Cooperation Council region. Several large corporations, sovereigns, and financial institutions took advantage of favourable conditions, including low interest rates, to raise funds and meet liquidity needs. This rush of issuances demonstrates the ongoing demand for GCC debt despite global economic uncertainties.

Victor Mourad, Co-Head of CEEMEA Debt Financing at Citi, highlighted the market’s performance, noting that the first half was particularly strong. “We had a phenomenal first half,” Mourad said. “The pipeline in the second half could be smaller, unless a drop in rates sparks a pre-funding strategy toward year-end, pulling transactions planned for early 2026 into November.” He pointed out that the timing of issuances would depend on a combination of factors, particularly the interest rate environment.

The market cooled off in the first three weeks of August, a period traditionally marked by lower activity, as many market players take a break before gearing up for the final months of the year. However, Mourad remains optimistic, suggesting that a rate reduction in the coming months could lead to a wave of issuances in the final quarter, as companies and governments look to lock in favourable terms before rates climb again.

Issuers are likely to adopt a strategic approach in the second half, with many considering early funding to avoid higher borrowing costs in 2026. A drop in rates could accelerate this strategy, as issuers push forward deals planned for the following year. It remains to be seen whether this shift in strategy will materialise, but the potential for an uptick in transactions towards the year-end remains high.

Investors will also play a key role in shaping the market dynamics. With yields on GCC bonds still appealing compared to those in other regions, demand for debt from the Gulf is expected to remain strong. The relatively stable economic backdrop, coupled with favourable oil prices, offers an attractive investment proposition for global investors looking for higher returns in a low-interest-rate environment.

Another crucial factor influencing the market will be the sovereign debt landscape across the GCC countries. Governments have continued to implement fiscal reforms and drive diversification efforts, which have bolstered the creditworthiness of the region’s sovereign issuers. As a result, GCC sovereign bonds have become a key asset class for international investors, offering a blend of safety and yield in uncertain times.

Corporate issuers in the region have also adapted to the shifting dynamics. Many have been tapping into the capital markets to fund expansion plans and refinance maturing debt, while also benefitting from government-backed stimulus packages. These initiatives have helped to stabilise the regional economy and offer liquidity to businesses during challenging periods.

However, challenges remain for certain sectors, particularly those heavily reliant on global supply chains or exposed to geopolitical risks. Tensions in the wider Middle East region could create volatility, which might impact investor sentiment. As the global economy continues to grapple with inflationary pressures and tightening monetary policies, GCC issuers will need to balance their strategies carefully to ensure they remain attractive to both local and international investors.

The acquisition will also align with TAQA’s sustainability goals, reinforcing its commitment to providing essential services in the water and energy sectors. With water scarcity becoming an increasingly urgent global issue, TAQA’s foray into water management is expected to play a pivotal role in meeting the needs of populations in water-stressed regions.

TAQA’s investment is seen as a response to the growing demand for sustainable water solutions, especially in the Middle East and North Africa, where the water scarcity issue is particularly pressing. The acquisition of GS Inima gives TAQA access to a portfolio of water treatment facilities, including desalination plants, water treatment plants, and wastewater management projects. These assets will allow TAQA to extend its reach in providing integrated solutions for water supply and wastewater treatment, addressing both operational and environmental challenges.

GS Inima, which has a proven track record in the management and operation of water infrastructure projects, will bring valuable expertise to TAQA. The Spanish company operates in various international markets, including Latin America, the Middle East, and Europe. Its portfolio includes some of the largest and most advanced desalination plants globally, complementing TAQA’s existing energy and water projects in the UAE and other regions.

For TAQA, the acquisition represents a strategic diversification into a critical infrastructure segment. The company has been shifting focus toward renewable energy and sustainable projects, reflecting broader trends in the energy sector. In line with the UAE’s commitment to sustainability, TAQA aims to contribute to global water security while also expanding its renewable energy footprint.

TAQA’s expansion into the water sector also serves as a response to market trends that indicate increasing investments in water infrastructure. According to industry experts, water scarcity is becoming a more pronounced challenge, particularly in urbanising and industrialising regions. The integration of water assets into TAQA’s broader portfolio enhances its ability to deliver sustainable solutions across both the energy and water sectors, offering customers integrated service offerings.

This acquisition also signals a shift in the regional market dynamics, where energy companies are increasingly seeking to tap into water management solutions. With over 50% of the world’s population living in water-scarce regions, the water market is expected to see continued growth. The UAE, known for its ambitious water desalination projects, stands to benefit from TAQA’s increased investment in water infrastructure, ensuring a more sustainable future for its rapidly growing population.

The integration of GS Inima into TAQA’s operations will also provide the company with a solid platform for further expansion. TAQA has been involved in several large-scale water and energy projects in the UAE, such as the development of renewable energy initiatives and large desalination plants. By merging with GS Inima, TAQA can leverage its experience to improve water management solutions worldwide and position itself as a leader in sustainable water resource management.

The plan includes 16 early childhood centres, six new schools, and three international universities. With these additions, the Emirate is strengthening its position as a global education hub. The new schools will offer a variety of curricula, catering to different international standards, while the universities are expected to provide high-quality degree programmes in multiple disciplines. The expansion aligns with Dubai’s strategic vision to position itself as a regional leader in education, attracting international students and families.

The increasing demand for high-quality education in Dubai is driven by a combination of factors. The city’s burgeoning population, especially among expatriates, has created a need for more educational institutions. According to the Knowledge and Human Development Authority, Dubai’s private schools have seen consistent growth over the past decade, with enrolment numbers steadily rising year after year. This demand for diverse and accessible education options has made the expansion of private institutions a top priority for the local government.

Dubai’s early childhood education market has been one of the fastest-growing sectors. The planned 16 new early childhood centres aim to address the gap in early education services, particularly in areas with high residential developments. These centres will cater to children from infancy to six years old, offering quality educational programmes designed to nurture cognitive, emotional, and social development. As more families choose Dubai as their home, there is an increasing need for flexible, high-standard childcare options.

The introduction of new international universities is part of Dubai’s broader strategy to attract higher education institutions from around the world. The city’s academic infrastructure has been steadily growing over the last two decades, with several global universities establishing campuses in Dubai Knowledge Park and Dubai Silicon Oasis. This expansion will further cement Dubai’s status as a destination for world-class higher education, offering a wide range of undergraduate and postgraduate programmes in fields such as technology, business, engineering, and healthcare.

The opening of these institutions also presents significant opportunities for local and international educators. With a large number of expat families residing in the city, the demand for skilled teachers across all levels of education remains high. This expansion will create numerous job opportunities for both local and international educators, particularly in the fields of STEM, which are seeing rising demand.

The 25 new institutions are expected to support Dubai’s broader economic development by equipping the workforce with critical skills needed for the city’s knowledge-driven economy. As Dubai continues to diversify its economy, education plays a crucial role in ensuring that its population is equipped with the expertise required for future industries, such as artificial intelligence, renewable energy, and fintech.

The city’s growth in education is not limited to the expansion of physical infrastructure. The KHDA is also investing in digital learning platforms, enhancing access to education through technology. The shift towards online learning, accelerated by the global pandemic, has influenced Dubai’s educational sector, with many institutions adopting hybrid models of teaching that combine traditional classroom learning with digital tools. These changes aim to make education more accessible and flexible for students of all ages.

Dubai’s vision for 2030 includes further investment in education, ensuring that it continues to attract families and professionals from around the world. As the city’s private education sector evolves, it is set to become an even more attractive option for expatriates seeking world-class education for their children, while also providing opportunities for students to pursue higher education without leaving the region.

Pepeto has crossed the $6 million milestone in presale funding, nearing the completion of stage 10 of its ongoing token sale. The project has raised significant attention in the cryptocurrency space due to its innovative features and growing investor confidence, having sold millions of its tokens thus far. With this latest achievement, the project continues to demonstrate its appeal to investors and enthusiasts in the blockchain and decentralized finance ecosystem.

The presale has proven to be a critical element in Pepeto’s funding strategy, propelling the project forward as it works towards achieving its long-term goals. Stage 10’s closure marks a pivotal point, as the team behind Pepeto prepares for the next phase. This substantial funding amount reflects not only the interest in Pepeto’s token but also the increasing importance of such projects within the broader cryptocurrency market.

Pepeto’s rise can be attributed to its unique positioning in the blockchain space, offering a platform that integrates various DeFi solutions and catering to both retail and institutional investors. As more tokens are sold during each stage, the market is beginning to recognise the value in Pepeto’s approach to decentralisation and smart contract utilisation. The project’s transparent presale structure has encouraged early participation, with tokens being sold in increments that give investors the opportunity to buy in at various price points.

The strategy has sparked considerable interest among investors, including those seeking to capitalise on the growing adoption of blockchain-based technologies. As of the close of stage 9, the project had already surpassed $5 million in funds, with a marked increase in engagement and buzz surrounding its future potential. With stage 10 expected to conclude shortly, the focus now shifts to how Pepeto will navigate the next stages of its development, including its full-scale launch and the introduction of its core platform features.

One of the key factors contributing to Pepeto’s momentum is its roadmap, which outlines a clear vision for the project’s growth. Investors have expressed confidence in the project’s ability to deliver on its promises, largely due to the team’s track record in the cryptocurrency space. The development of Pepeto has been closely watched, with industry experts highlighting its potential to drive further innovation within the DeFi sector.

Pepeto’s presale funding figures not only underscore the enthusiasm surrounding the project but also signal a shift in the market’s focus towards platforms offering a wide array of financial services. As decentralised finance continues to disrupt traditional banking and financial institutions, Pepeto’s platform aims to bridge the gap by providing users with accessible, transparent, and secure financial tools.

For the project’s backers, the successful fundraising through presale stages provides early access to what many believe could be a highly lucrative investment opportunity. By securing substantial funds before its full-scale launch, Pepeto aims to build a robust platform that can withstand the volatility of the cryptocurrency market and offer long-term value to its users.

Despite the success of its presale, Pepeto remains focused on developing its core infrastructure. This includes ensuring that the platform is scalable, secure, and capable of supporting a wide variety of financial transactions. With cryptocurrency adoption growing at a rapid pace, platforms like Pepeto are positioning themselves as leaders in the DeFi space, seeking to offer solutions that meet the needs of an increasingly sophisticated investor base.

The project has also been building strategic partnerships to enhance its ecosystem, further increasing its potential for success. With blockchain technology and cryptocurrencies becoming more mainstream, Pepeto’s team is working on ensuring the platform’s relevance across multiple sectors. These partnerships will play a crucial role in driving the adoption of Pepeto’s token and expanding its user base.

OKB, the native token of the OKX exchange, has surpassed the $200 mark, generating significant attention in the cryptocurrency market. This surge in price comes after the platform announced the burning of 65 million OKB tokens, a move that has impacted the token’s supply and price trajectory.

The token burn, part of a broader strategy by OKX to reduce the circulating supply, was confirmed by the exchange in its latest quarterly report. The reduction in the available supply has had an immediate effect on the price of OKB, driving it higher as investors react to the scarcity of the token. The burn, valued at over $1.3 billion at current prices, has sent a signal to the market that the platform is committed to managing the long-term sustainability and value of OKB.

In addition to the burning event, several factors are influencing OKB’s upward movement. The growing adoption of the OKX platform, as well as the increasing institutional interest in the wider cryptocurrency market, is contributing to a favourable market sentiment. OKX has also gained recognition for its transparent approach to tokenomics, including regular updates on its burn schedule and token supply adjustments.

The broader context of rising interest in decentralized finance and the increasing use of exchange-native tokens is also playing a role. Many traders and investors are turning to OKB not just as a utility token for the exchange but as an asset that holds value in its own right. The token’s recent price movement has been accompanied by increased trading volumes, further driving up the price.

Experts suggest that the token burn may have created a short-term supply shock, but it is the long-term market fundamentals that will determine OKB’s price stability. While the reduction in token supply tends to lead to a price increase, the overall health of the cryptocurrency market, the strength of OKX’s platform, and the evolving regulatory environment remain key factors in sustaining the current momentum.

The OKB burn is part of OKX’s ongoing efforts to create a deflationary model for the token, which has included previous burns as well as strategic buybacks. These measures are designed to reward holders by increasing the value of the token over time. However, critics argue that while token burns can create upward price pressure in the short term, they do not guarantee long-term price appreciation if demand for the token does not remain strong.

As OKB continues to perform well, some analysts are raising questions about the sustainability of the current rally. They point to potential challenges in the global crypto market, particularly with the tightening of regulations across major jurisdictions. Despite this, OKB has shown resilience, with its strong growth being bolstered by a series of partnerships and its increasing use in DeFi protocols.

OKX has not only focused on tokenomics but also on expanding its range of products and services. The exchange has been integrating its platform with various blockchain ecosystems and is promoting its suite of DeFi tools, which has helped boost OKB’s utility beyond just trading. The introduction of new features such as staking and yield farming for OKB holders is also enhancing its appeal to long-term investors.

Looking ahead, the next steps for OKX could include additional token burns, further integrations with DeFi, and possibly the release of new products aimed at attracting more users to the platform. Investors will be keen to see whether the momentum can be sustained or whether market conditions will pose challenges to OKB’s continued growth.

Amanat Holdings has finalised the sale of the real-estate assets linked to North London Collegiate School in Mohammed bin Rashid Al Maktoum City, achieving Dhs453 million in proceeds. The deal produced an unlevered cash-on-cash multiple of 1.7× and an internal rate of return of 10 per cent, generating a net cash return of approximately Dhs294 million. The move reflects the company’s disciplined and value-focused investment approach.

This sale fits squarely within Amanat’s “identify, grow, monetise” strategy, which it has employed across its education and healthcare platforms. The firm originally acquired the school’s real estate asset in June 2018 for Dhs360 million and pumped in another Dhs33 million for capital expansion, bringing total spend to about Dhs393 million.

In a statement, Amanat’s chairman, Dr Shamsheer Vayalil, described the sale as a validation of the company’s ability to spot high-quality investments and exit them strategically to unlock value and enhance shareholder returns. He emphasised that proceeds will broaden the company’s strategic options and support continued focus on its core businesses. Chief executive officer John Ireland observed that completing the sale above the initial investment highlights the strength of the firm’s investment model, from disciplined acquisition through development and timely exit, enhancing balance-sheet strength and enabling reinvestment into priority areas.

The transaction is expected to close in the third quarter of 2025, and the buyer remains undisclosed. Amanat has confirmed that the unnamed purchaser will assume applicable VAT and Dubai Land Department fees.

A launch date for an initial public offering of Amanat’s education arm has been on the horizon, with plans underway since May 2024 to pursue a listing. The sale’s cash realisation may help to underpin such strategic ambitions.

The broader context sees growing appetite for education-related assets across the UAE property market, despite fluctuations elsewhere. Amanat’s sale follows a wave of substantial land deals, including a headline-grabbing Dhs2.9 billion transaction by Emaar in Ras Al-Khor.

Supermarket operator Spinneys has confirmed its expansion into Kuwait through a strategic joint venture with retail powerhouse Alshaya Group. Under the agreement, Spinneys will retain a 51 per cent controlling stake and will take responsibility for running and managing all planned outlets. The rollout includes ten stores, with the first store slated to open in 2026—marking the brand’s arrival in its fourth Gulf Cooperation Council market after UAE, Saudi Arabia and Oman.

Spinneys has accelerated its regional expansion over the last 16 months, opening twelve new stores in the UAE and two in Saudi Arabia between April 2024 and August 2025. The move into Kuwait aligns with the company’s ambition to position itself as the region’s leading premium fresh-food grocer, with Alshaya’s extensive regional experience providing vital strategic support.

Sunil Kumar, chief executive of Spinneys, described Kuwait as “a high potential market” offering robust growth prospects, and emphasised that the partnership with Alshaya offers a “solid foundation for a successful entry and long-term scale”. John Hadden, chief executive of Alshaya Group, highlighted Kuwait’s dynamic consumer landscape and the local appetite for premium offerings. He said Spinneys’ brand and operational strengths are expected to resonate strongly with Kuwaiti consumers.

Kuwait stands as the GCC’s fourth-largest economy, with some of the region’s highest per-capita disposable incomes. Its affluent and discerning consumer base presents considerable opportunities for high-quality retail formats. This expansion is seen as the natural next phase in Spinneys’ growth strategy.

On the financial markets, Spinneys’ share price saw an immediate boost following the announcement, climbing approximately 3.1 per cent. The company, which went public via a Dubai listing in May 2024, currently operates 86 stores across three GCC countries, including those under its own brands and Waitrose and Al Fair franchises.

Alshaya Group, established in 1890 in Kuwait, is a leading retail franchise operator across the Middle East, North Africa, Türkiye and Europe. It manages nearly seventy international consumer brands and has diversified operations across sectors including fashion, food, health and beauty, pharmacy, home furnishings and leisure.

The joint venture allows Spinneys to capitalise on Alshaya’s deep-rooted regional network and operational expertise while delivering its premium fresh-food proposition to Kuwaiti customers. At the same time, Alshaya adds a trusted high-end grocery brand to its extensive retail portfolio, enabling both firms to strengthen their regional positioning.

Asia-Pacific public cloud expenditure is set to more than double, expanding from approximately $53 billion in 2024 to reach an estimated $131 billion by 2029. That projection reflects a compound annual growth rate of about 19.8 per cent from 2025 to 2029, driven by surging demand for IaaS, PaaS and SaaS across key sectors such as finance, retail and telecommunications.

Cloud adoption is gaining speed as organisations across the region prioritise digital modernisation. Financial services, retailing and telecoms industries are leading investments, while government, e-commerce and public service sectors follow closely behind. E-governance programmes and the need for operational efficiency are central to this surge.

Artificial intelligence integration is playing a significant role in this expansion. Organisations are increasingly embedding AI and machine learning capabilities into cloud platforms, intensifying demand for managed and industry-specific cloud services.

Nevertheless, the transition is not without its obstacles. Legacy infrastructure and a shortage of skilled cloud professionals remain persistent hurdles. As a result, hybrid and multi-cloud approaches are becoming more common, enabling flexibility, improved interoperability and alignment with sovereign data regulations in markets like India, Singapore and Australia.

Global hyperscale providers are doubling down on infrastructure growth across the region. Amazon Web Services has unveiled multi-billion-dollar expansions in Australia and Taiwan, supplementing earlier investments in Singapore, Malaysia and Japan. AWS projects Asia-Pacific cloud spending at about $250 billion in 2025, largely fuelled by AI uptake and infrastructure renewal.

Microsoft Azure and Google Cloud continue their expansion as major contenders. Alibaba Cloud maintains leadership in China and across Asia-Pacific, operating terrain-wide with numerous regions and availability zones. Alibaba is forging ahead with new data centre investments in Malaysia, the Philippines and plans in Vietnam.

Regional cloud players such as Tencent Cloud and Huawei Cloud are also making notable strides. Tencent is reinforcing operations in Indonesia, Malaysia, Singapore and Thailand, investing heavily in AI-enabled services like digital IDs and secure payment systems— notably a $500 million commitment in Indonesia alongside GoTo and Alibaba. Huawei Cloud is growing its presence in Singapore, Bangkok and Jakarta. Local integrators and managed service providers— including Singtel’s services and Singapore’s ST Telemedia—are strengthening adoption by offering hybrid and tailored industry solutions.

Azizi Developments has entered into a strategic partnership with Modern Plastic Industry, a leading manufacturer of advanced piping solutions, to provide high-performance UPVC pipes and fittings for key construction projects in Dubai. This agreement will see MPI supply materials for Azizi’s upcoming developments, including those requiring high-pressure and drainage piping systems. The collaboration underscores Azizi’s commitment to sourcing top-tier materials for its growing portfolio of residential and commercial properties in the UAE’s competitive real estate market.

As one of the leading private developers in Dubai, Azizi Developments is known for its diverse range of residential and mixed-use projects. These developments span from affordable housing to luxury properties, aimed at addressing the growing demand for high-quality living spaces in the city. By partnering with MPI, the company continues to enhance the quality and sustainability of its developments while meeting the increasing demand for durable, efficient infrastructure solutions in the region’s fast-paced construction sector.

For MPI, the deal represents a significant opportunity to expand its footprint in the UAE market, where the construction industry remains one of the most active globally. The company, based in the UAE, has gained recognition for its innovative approaches to piping solutions, offering a comprehensive range of high-performance products tailored to both residential and commercial applications. MPI’s UPVC pipes are particularly suited to high-pressure and drainage systems, making them an ideal choice for large-scale developments like those undertaken by Azizi.

The partnership also reflects a broader trend in the UAE’s construction sector, where developers are increasingly turning to advanced, long-lasting materials to meet both technical and environmental demands. As construction projects become more complex and high-rise buildings continue to dominate Dubai’s skyline, the need for efficient, reliable piping systems has never been more critical. Azizi’s selection of MPI’s products highlights its commitment to ensuring the safety, durability, and environmental sustainability of its developments.

Azizi’s projects, known for their modern architecture and integration of cutting-edge technology, will benefit from MPI’s extensive experience in manufacturing superior piping systems. The collaboration will cover multiple projects across Dubai, including large residential towers, office complexes, and mixed-use developments that require dependable and robust infrastructure. The deal aims to ensure that the piping systems used in these projects are built to last, meeting the rigorous demands of Dubai’s urban environment.

The agreement between the two companies comes at a time when the UAE’s construction sector is showing resilience, particularly in Dubai, which continues to attract both domestic and international investors. Despite global economic uncertainties, Dubai remains a thriving hub for construction, largely driven by ambitious projects such as Expo 2020’s legacy developments, the Dubai Creek Harbour, and various mega residential and mixed-use schemes. As the city continues to evolve, the demand for high-quality, cost-effective materials remains strong, making partnerships like the one between Azizi and MPI particularly timely.