AB Espresso: ‘Give me a good idea, I will sign the cheque, ’ says Mohamed Alabbar

Hello reader,

In today’s newsletter:

Discover the latest stories from Arabian Business, in case you missed them on Monday:

Emaar Properties founder Mohamed Alabbar has offered a reward to content creators who present ideas to promote Dubai. Speaking at the 1 Billion Followers Summit, Alabbar invited participants to create a one-year campaign with strong content, promising substantial rewards for innovative ideas. The summit, held at Emirates Towers, DIFC, and the Museum of the Future, brought together 15,000 content creators, 420 speakers, and 125 industry leaders under the theme Content for Good.

Meanwhile, UAE medical experts have reassured residents regarding the rise in human metapneumovirus (HMPV) cases in China. While hospital scenes from China have sparked concerns, experts clarified that HMPV is a seasonal virus causing mild to moderate symptoms in most cases and is not a cause for alarm.

In other news, startup funding in the UAE is predicted to exceed last year’s estimated $2 billion, which had tripled from the prior year. Key sectors expected to attract investment include artificial intelligence, fintech, climate tech, and health tech. New financing trends, such as revenue-based financing and venture debt, are expected to gain traction in the UAE’s startup ecosystem.

Aside from this, Aramex has received a voluntary cash offer from Q Logistics Holding, a subsidiary of ADQ Development Holding, to acquire up to 100 percent of its share capital. The offer is under review by Aramex’s Board of Directors, with procedures to follow UAE acquisition and merger regulations.

In other major developments, Aldar Properties has closed a $2.45 billion (AED 9 billion) sustainability-linked revolving credit facility, the largest of its kind in the Middle East for a real estate firm. The facility, comprising conventional and Islamic tranches in AED and USD, is tied to sustainability performance indicators. This follows Aldar’s issuance of $1 billion in hybrid notes earlier this month.

Until next time, Sharon Benjamin for Arabian Business

THE LONGER READ:

Inside Elon Musk’s risky experiment mixing luxury EVs, presidential politics, and US-China relations with just days until Trump’s inauguration

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