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President-elect Donald Trump called Damac chairman Hussain Sajwani “one of the most respected business leaders in the Middle East, indeed the world"

Trump reveals $20bn from Sajwani for US data centres

Incoming US president Donald Trump and Hussain Sajwani, the billionaire chairman of Damac Properties, announced on Tuesday that the emirati will invest “at least” $20 billion in data centres across the US. The move represents the official entry of EDGNEX, Damac’s specialised subsidiary, into the American market as demand for cloud computing and artificial intelligence […]

The atrium of Trump Tower in Manhattan. Damac’s Ali Sajwani says Trump-branded properties in Dubai have doubled in value since 2020

Damac secures rights to build Trump Tower Abu Dhabi

The Dubai luxury developer Damac Properties has secured the rights to build a Trump Tower in Abu Dhabi, sources familiar with the matter have told AGBI, as the Trump Organisation expands its footprint in the Gulf. Damac has an established relationship with the Trump Organisation, the family business of US President-elect Donald Trump, with a […]

President-elect Donald Trump has lent his name to a range of Dar Global projects

Dar Global plans two Trump-branded projects in Riyadh

Real estate developer Dar Global has signed an agreement with The Trump Organization to build two “landmark projects” in Riyadh.  No details were provided on the Trump-branded projects, which are set to be the fourth and fifth collaborations between the two companies.  Dar Global, the international arm of Saudi-listed developer Dar Al Arkan,said the projects […]

A data centre technician. Amazon, Google and Microsoft are also developing high-tech infrastructure in Southeast Asia

Damac to spend $3bn on data centres in Southeast Asia

Edgnex, the data centre subsidiary of Dubai’s Damac Group, is planning to invest $3 billion in sites across Southeast Asia over the next three to five years.  The investment is part of a $7 billion digital infrastructure strategy that aims to meet rising demand for artificial intelligence and cloud computing, Danish Nayar, Damac’s senior vice-president […]

Luxury yachts in Dubai. The emirate is now home to 39 billionaires

Billionaires in UAE rise as Saudi numbers drop

The number of billionaires in the UAE increased in the last year as the amount of super-wealthy residents in neighbouring Saudi Arabia dropped.  Forty-eight billionaires lived in the UAE in 2023, with a combined wealth of $205 billion, a year-on-year increase of 7 percent. Dubai made up 39 of that total and welcomed one extra […]

Dubai's Emaar Properties owns 79 percent of Emaar Development and also has hospitality and retail divisions

Dubai’s bellwether Emaar to report Q3 profit rise

Dubai’s Emaar Properties, bellwether of the emirate’s bourse, and its real estate development subsidiary, are likely to report sizeable increases in third-quarter profits versus the preceding three months as margins expand and under-construction projects reach revenue recognition thresholds. Emaar Properties owns 79 percent of Emaar Development and also has hospitality and retail divisions. It is […]

Paramount The Godfather An offer they can't refuse? Among the best-known films from Paramount Pictures, currently the subject of two takeover bids, is The Godfather, from 1972

Abu Dhabi-backed financier among bidders for Hollywood giant

A New York investment company backed by Abu Dhabi is part of a group that has launched a bid to take over Paramount Global, one of Hollywood’s biggest entertainment companies. The conglomerate, led by the industry veteran Edgar Bronfman Jr, a former CEO of Warner Music Group, submitted a $4.3 billion bid on Monday to […]

Turkey's Togg transition concept electric vehicle. The government has offered $5bn in incentives for the EV industry and $4.5bn to develop battery production

Turkey ups FDI forecast to $14bn after FATF removal

Foreign direct investment (FDI) in Turkey is expected to reach $12-14 billion in 2024, compared to $10 billion in 2023, following the country’s removal from the Financial Action Task Force (FATF) ‘grey list’. Foreign investment has increased following removal from the Paris-based watchdog’s list and subsequent improvements in the country’s credit rating, Turkey’s investment office […]

Population growth in the UAE is driving the real estate industry in areas such as Dubai and thus increasing interest in property tech

Middle East property tech draws venture capital interest

Venture capital is pouring into the Middle Eastern property technology industry, buoyed by continued growth in regional real estate. Property tech offerings encompass listing websites, rental management services and investment products, among others. In the first half of 2024 startups in the sector became the number one target for early-stage funding, beating fintech, which has […]