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Dubai and Abu Dhabi need some IPO diversity

“You want your capital markets to be a mirror of your economy on the ground,” says Saad Chalabi, CEO of brokerage platform xCube.

In the UAE, however, that has not been the case. The markets in Dubai and Abu Dhabi are “mostly real estate and banking in terms of weight”, though more oil, utilities and transport companies are listing too.

Diversified supply of IPOs is needed to meet demand, Chalabi says, pointing to the UAE’s recent run of oversubscribed initial public offerings.

“We know for sure that technology is the largest thing in demand. When we begin to see more listings that are at least tech driven, those are going to see some very interesting valuations.”

Watch the video to find out more

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