Mena Insights

Mena Insights A window into business and investments in the MENA region

Saudi Arabia is accelerating capital-market reforms as dozens of companies line up for IPOs, with officials noting more ...
12/02/2025

Saudi Arabia is accelerating capital-market reforms as dozens of companies line up for IPOs, with officials noting more than 40 listings since early 2025 and over 100 firms currently in the IPO pipeline, up from prior years.

IPO momentum has already reached nearly $4.5 billion raised in 2025, even as the Tadawul All Share Index is down ~12% year-to-date, with weakness driven by slower volumes among smaller firms despite continued participation by larger issuers.

Recent and upcoming listings include Flynas (low-cost airline), Umm Al Qura for Development & Construction (Mecca real-estate developer), Almasar Alshamil Education Co., and Cherry (car-rental operator).

Crown Prince MBS’s White House visit has set off a new surge of US–Saudi agreements, anchored by nearly $1 trillion in S...
11/19/2025

Crown Prince MBS’s White House visit has set off a new surge of US–Saudi agreements, anchored by nearly $1 trillion in Saudi commitments.

Five key deals so far:
• Humain AI multi-GW data-center buildouts with Amazon / AMD / xAI / GlobalAI
• US approval of major semiconductor sales to Saudi Arabia
• US–Saudi Civil Nuclear Cooperation agreement
• US–Saudi Critical Minerals supply-chain framework
• Strategic Defense Agreement: F-35 approval + ~300 Abrams tanks

Dubai Chambers opened its first U.S. office in New York City to give American companies a direct pipeline into Dubai’s e...
11/18/2025

Dubai Chambers opened its first U.S. office in New York City to give American companies a direct pipeline into Dubai’s expanding investment environment, offering market intelligence, regulatory guidance, and tailored deal-matching services.

The move targets the fast-growing US–Dubai corridor, which saw non-oil trade reach AED 116.4 billion (USD 31.7 billion) in 2024 and US investments in Dubai hit USD 21.7 billion since 2015, representing 35% of Dubai’s total FDI inflows in H1 2025 alone.

3,690 American companies are already registered in Dubai and 787 new members have been added since January.

Joby Aviation and Saudi Arabia’s aviation regulator agreed to fast-track certification and deployment of Joby’s electric...
11/13/2025

Joby Aviation and Saudi Arabia’s aviation regulator agreed to fast-track certification and deployment of Joby’s electric air taxis in the Kingdom.

The plan positions Saudi Arabia alongside the U.S., UAE, Japan, and South Korea as an early launch market.

Joby is also working with Abdul Latif Jameel and Aramco’s Aloula Aviation on deals that could total up to 200 aircraft worth about $1 billion.

Lean Technologies, a Saudi fintech specializing in open banking, is exploring new investments as it positions itself for...
11/13/2025

Lean Technologies, a Saudi fintech specializing in open banking, is exploring new investments as it positions itself for a potential IPO.

Backed by over US$100 million — including a US$70 million Series B in 2024 — the company is expanding beyond open banking into remittances, cross-border payments, alternative credit, and insurance-related services.

CEO Hisham Al-Falih says Lean remains focused on Saudi Arabia and the UAE but may consider broader regional growth.

Blackstone is partnering with Saudi Arabia’s new AI firm Humain, alongside AirTrunk and the Canada Pension Plan, in a $3...
10/29/2025

Blackstone is partnering with Saudi Arabia’s new AI firm Humain, alongside AirTrunk and the Canada Pension Plan, in a $3 billion initiative to build and operate advanced data centers across the kingdom.

Qualcomm, meanwhile, is supplying power-efficient AI accelerator chips to Humain, marking its move beyond smartphones and a potential challenge to Nvidia’s dominance in the $500 billion AI hardware market.

Pictured (right to left): Steve Schwarzman, Chairman & CEO, Blackstone Inc. Tareq Amin, CEO, Humain AI. Cristiano Amon, President & CEO, Qualcomm Inc.

Saudi Arabia plans to build King Salman Gate, a 12-million-square-meter urban district next to Mecca’s Grand Mosque, add...
10/21/2025

Saudi Arabia plans to build King Salman Gate, a 12-million-square-meter urban district next to Mecca’s Grand Mosque, adding homes, hotels, and shops for up to 900,000 worshippers.

The project, led by RUA Al-Haram Al-Makkiya (a PIF unit), is part of broader efforts to modernize Mecca and attract international investors as the kingdom loosens property rules.

300,000 jobs are expected by 2036 to support massive tourism growth.

Dubai plans to open its first underground “Loop” transit system by 2026, built in partnership with Elon Musk’s Boring Co...
10/14/2025

Dubai plans to open its first underground “Loop” transit system by 2026, built in partnership with Elon Musk’s Boring Company.

The initial phase will span 17 kilometers (10.6 miles) and is designed to carry up to 20,000 passengers per hour, easing congestion in the city.

If realized, it would mark the Boring Company’s first major international success, following its only operational Loop in Las Vegas.

A new report from Bloomberg is highlighting that rich Middle Eastern families are set to transfer nearly $1 trillion to ...
10/08/2025

A new report from Bloomberg is highlighting that rich Middle Eastern families are set to transfer nearly $1 trillion to the next generation, fueling demand for professional money managers and more sophisticated asset allocation.

Dubai now hosts 70+ hedge funds, while Abu Dhabi attracts global players like Brevan Howard and Marshall Wace, as banks from Citi to Barclays scale Gulf wealth units to capture this shift.

Surveys show 70% of regional single-family offices invest in private equity, and nearly 60% in venture capital, with rising allocations also flowing to the US, Europe, and Asia.

Saudi Arabia’s Public Investment Fund (PIF) is spearheading a $36 billion deal to take Electronic Arts (EA) private, rol...
10/04/2025

Saudi Arabia’s Public Investment Fund (PIF) is spearheading a $36 billion deal to take Electronic Arts (EA) private, rolling over its existing $5 billion stake and injecting additional capital alongside Silver Lake and Affinity Partners.

EA, publisher of the global football franchise EA Sports FC (formerly FIFA), gives Saudi Arabia a controlling foothold in one of the world’s most valuable gaming IP portfolios. This builds on ~$30 billion already invested by PIF into the sector, including a 5% stake in Nintendo, a majority investment in SNK (maker of Metal Slug and King of Fighters), and a $4.9 billion stake in Activision Blizzard before Microsoft’s acquisition; the fund also owns Savvy Games Group, which pledged $38 billion to grow Saudi gaming, including $13 billion earmarked for major acquisitions.

From a strategic standpoint, Saudi Arabia is assembling control across the gaming value chain: it now owns one of the largest Western publishers (EA), has invested in Japanese IP pipelines (Nintendo, SNK), holds stakes in game engines and esports platforms, and is building physical gaming infrastructure such as four new dedicated esports arenas inside a planned gaming city. Combined with Vision 2030’s mandate to create 39,000 gaming jobs and lift the local market to $13 billion in annual revenue, the kingdom is taking lead in the $200 billion+ global gaming economy.

Qatar Investment Authority (QIA), Qatar’s $510B+ sovereign wealth fund, will partner with Blue Owl Capital (OWL), a $174...
09/26/2025

Qatar Investment Authority (QIA), Qatar’s $510B+ sovereign wealth fund, will partner with Blue Owl Capital (OWL), a $174B+ alternative asset manager known for permanent capital and credit solutions, to launch a digital infrastructure platform initially seeded with over $3 billion in data center assets.

The venture aims to expand global compute capacity for hyperscalers as cloud and AI demand accelerates.

Abu Dhabi’s Technology Innovation Institute (TII) and NVIDIA have launched the region’s first Nvidia AI Technology Cente...
09/25/2025

Abu Dhabi’s Technology Innovation Institute (TII) and NVIDIA have launched the region’s first Nvidia AI Technology Center (NVAITC) Lab for AI and Robotics, focused on developing humanoids, autonomous robotic platforms, and advanced AI models for industrial and defense applications.

The partnership positions the UAE as a testbed for applied AI, complementing the recent US–UAE AI Acceleration Partnership and reinforcing Abu Dhabi’s goal of building sovereign tech capabilities.

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