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Mena Insights

A window into business and investments in the MENA region

08/19/2025

Robinhood has reportedly applied for a Category 4 license from the Dubai Financial Services Authority (DFSA), which would enable it to onboard clients in the UAE and wider MENA region.

The broker plans to operate from the Dubai International Financial Centre (DIFC), the emirate’s special economic zone.

Pictured: Founders Baiju Bhatt and Vlad Tenev (NYT)

08/17/2025

Saudi Arabia has launched the qualification phase for the Prince Faisal bin Fahad Sports City project in Riyadh, structured as a Public-Private Partnership under a long-term DBFOM model.

The development includes a new 47,000-seat stadium near King Abdullah Park, positioned to host both domestic matches and key international events such as the 2034 FIFA World Cup.

08/13/2025

Talabat Holding’s Q2 2025 net income rose 33% year-on-year to $119 million.

Revenue for the quarter jumped 35% to $982 million, with growth across both GCC and non-GCC markets and in food as well as grocery & retail segments.

For H1 2025, net profit surged 90% year-on-year to $222 million on a 34% revenue increase to $1.8 billion.

08/10/2025

Turkey welcomed a US-brokered peace deal between Azerbaijan and Armenia that includes a strategic transit corridor linking Azerbaijan to Nakhchivan via Armenia, with exclusive US development rights.

The corridor, alongside a Qatari-funded gas export project, would expand Azerbaijani energy flows into northern Syria and potentially Homs.

The gas line is expected to deliver up to 2 billion cubic meters annually to Syria—covering roughly 40% of its pre-war demand—while giving Turkey a direct stake in a transport and energy network handling billions of dollars in trade each year.

08/08/2025

Dubai Municipality processed over 30,000 building permits in the first half of 2025—a 20% increase from the same period last year.

The total licensed area exceeded 5.5 million square meters, equivalent to about 770 football fields, with 1 million square meters approved in July alone.

Commercial buildings made up 45% of the space, while residential villas surpassed 2 million square meters.

08/07/2025

Syria has just signed $14 billion in investment deals:

$4 billion deal for building a new airport in Damascus signed with Qatar’s UCC holding

$2 billion deal to establish a subway in the Syrian capital with the UAE’s national investment corporation

$2 billion Damascus Towers project signed with Italy-based UBAKO

$6.4 billion of investments with Saudi Arabia announced last month

08/06/2025

Starting in January 2026, Saudi Arabia will allow foreign nationals to own property in major cities like Riyadh, Jeddah, and Dammam—part of a landmark policy shift under Vision 2030.

The reform removes past restrictions tied to residency, work permits, and reciprocity, and expands ownership rights to include commercial and industrial real estate.

The announcement has already boosted investor sentiment, with real estate stocks rising over 6%, and Q1 2025 transactions totaling SAR 60 billion, 65% of which were residential, signaling strong demand ahead of the law’s implementation.

07/22/2025

A consortium led by Air Arabia, along with Nesma Group and KUN Holding, has won Saudi approval to launch a new low-cost airline based in Dammam.

The airline aims to operate 45 aircraft and serve 10 million passengers annually by 2030, enhancing connectivity and supporting Vision 2030 goals.

Inspired by Air Arabia’s model, the venture is expected to create 2,400+ aviation jobs and boost economic growth in the Eastern Province.

07/20/2025

Uber is partnering with Lucid Motors and autonomous tech firm Nuro to launch a fleet of at least 20,000 self-driving Lucid EVs over the next six years, starting in a major American city in late 2026.

Backed by Saudi Arabia’s Public Investment Fund, Lucid will equip its upcoming Gravity SUV with Nuro’s self-driving hardware and software, while Uber commits hundreds of millions in investment—signaling a major bet on scaling autonomous ride-hailing with Saudi-linked EV manufacturing at the center.

07/19/2025

Saudi Aramco is reportedly close to securing about $10 billion from a BlackRock-led investor group in a financing deal tied to its Jafurah shale gas project. The transaction is expected to be structured similarly to Aramco’s 2021 infrastructure deals, in which investors including BlackRock leased usage rights to Aramco’s oil and gas pipelines and then leased them back to the company for a 20-year period. Those 2021 deals helped Aramco raise nearly $28 billion while providing investors with a stable, tariff-based revenue stream over the lease period.

The Jafurah project – one of the largest shale gas developments outside the US – is central to Saudi Arabia’s plan to boost gas output by 60% by 2030. For BlackRock, this partnership adds another foothold in Middle Eastern energy infrastructure, complementing its $15.5 billion investment in Aramco’s gas pipelines in 2021 and other Gulf-region deals. Such moves align with BlackRock’s wider strategy of pursuing large-scale infrastructure assets for long-term, stable returns, as the firm looks beyond traditional investments to drive growth.

Beyond Aramco, a BlackRock-managed fund acquired a minority stake in the Saudi–Bahrain Pipeline Company, securing rights to tariff revenues from 350,000 barrels per day of crude flowing from Aramco to Bahrain.

07/17/2025

Bahrain and US companies signed agreements totaling around $17 billion to boost cooperation across sectors including aviation, technology, and investment. Notable deals include Cisco enhancing Bahrain’s digital infrastructure and the launch of a new submarine cable project that will link Bahrain, Saudi Arabia, Kuwait, and Iraq to global networks.

Additionally, Bahraini firms plan to invest $10.7 billion in the US, with sovereign fund Mumtalakat committing $2 billion to US aluminum projects focused on job creation.

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