Happy Thursday everyone!

From theme parks to trading hubs and IPO dreams—this week, the UAE is making global headlines. Disney has unveiled plans for its first-ever Middle East resort in Abu Dhabi, developed with Miral and set to open in the early 2030s. Meanwhile, Dubai-based tech powerhouses Kitopi and Tabby are prepping for future IPOs, signaling investor confidence but raising flags over regional volatility. And as Jafza celebrates 40 years, the free zone continues to anchor UAE’s global trade dominance, home to over 11,000 businesses and $100+ billion in annual commerce.

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Disney’s First-Ever Theme Park in the Middle East Is Coming to Abu Dhabi

📰 What’s it about:

• The Walt Disney Company has announced plans to build Disneyland Abu Dhabi, its first new resort in over a decade — and its first in the Middle East.

• The project is in partnership with Abu Dhabi’s Miral, which will finance, develop, and operate the destination, while Disney Imagineers lead creative design.

• It will be the seventh Disney resort globally, with plans for one theme park and multiple hotels, aiming for an opening in the early 2030s.

💸 Why it matters:

• Theme parks generated 59% of Disney’s operating income in FY2024, making them the company’s most important revenue stream as streaming margins tighten.

• US park attendance dipped slightly last year, but Disney reported a revenue surge in Q1 2025, with international markets showing stronger guest spending.

• Abu Dhabi was chosen for its strategic location — 500 million people live within flying distance, including major markets like India, giving Disney a massive growth runway.

• Positioned on Yas Island alongside SeaWorld, Warner Bros. World, and Yas Waterworld, the new park will anchor Abu Dhabi as a global theme park hub.

🚀 What’s next:

• The park is expected to be Disney’s most technologically advanced, integrating immersive gaming and real-time storytelling using tools like Unreal Engine.

• A futuristic, crystal-like castle — instead of the traditional fairytale design — and the first Disney waterfront resort reflect the UAE’s modern urban identity.

• This move comes amid rising global competition, with Universal launching parks in the UK and Florida. But Disney remains bullish: “There was no question… this is where it was going to be,” said Disney’s Josh D’Amaro.

ODEUM – A Cutting-Edge Content Studio for All Your Production and Social Media Management Needs

📰 What is it about?

• Odeum, the content studio built for modern media consumption, partnering with brands to deliver tailored content services while also creating original productions under the Augustus Media network.

💡 Why Choose ODEUM?

At ODEUM, we provide end-to-end media solutions to elevate your brand across multiple platforms.

• Video: Distribution, post-production, production, live streaming, series and show creation, animation, branded content, AI-powered video creation, CGI video creation.

• Social Media: Account takeovers, strategic posts, tactical competitions.

• Copywriting: Branded content hubs, sponsored articles.

• Events: Media partnerships, co-branding, guest list curation, ticket commerce.

• Audio: Podcast production, hosting, voiceovers, audio ads.

• Online Advertising: Programmatic, display, paid social, affiliate marketing.

🔜What’s next?

• Have a project in mind? Let's make it happen!

• Book a studio or discuss your next big idea with us today.

Follow ODEUM on LinkedIn, Instagram and X.

Markets

‘Connecting Trade from East to West’: Jafza Marks 40 Years of Driving Global Commerce

🗞️ What It’s About

• The Jebel Ali Free Zone (Jafza), part of DP World, is celebrating 40 years as one of the world’s leading free trade zones.

• Established in 1979 with the launch of Jebel Ali Port by the late HH Sheikh Rashid bin Saeed Al Maktoum, Jafza grew under HH Sheikh Mohammed Bin Rashid Al Maktoum’s vision to connect global markets.

• Today, Jafza hosts over 11,000 businesses from 157 countries, spanning sectors from logistics and retail to manufacturing.

💡 Why It Matters

• Over the past two decades, Jafza has attracted more than AED 110 billion in investment and, together with Jebel Ali Port, now contributes 36% of Dubai’s GDP.

• In 2024, Jafza facilitated AED 713 billion in non-oil trade, underscoring its critical role in the UAE’s economic diversification.

• “The Jebel Ali Free Zone turns 40 this year and I'm proud to have been here since the very beginning,” said Sultan Ahmed Bin Sulayem, Group Chairman & CEO of DP World, on LinkedIn.

• He added: “Jafza’s success goes beyond growth. In times of disruption, we adapt — re-routing or securing inventory — while maintaining tax efficiency.”

• The zone’s real-time digital updates help businesses remain compliant and responsive to tariff changes, making it a resilient backbone of global trade.

🔜 What’s Next

• As part of its global blueprint, Jafza is expanding its model to regions like Egypt, Somaliland, and India, through strategic partnerships with local governments and businesses.

• “Free zones offer a way forward in today’s fragmented environment,” Bin Sulayem said, highlighting how these connected hubs enhance agility.

• Jafza’s future vision is centered on tech-enabled trade ecosystems, digital scalability, and strengthening supply chain resilience across markets.

Tabby and Kitopi Plan IPOs Amid Investor Allocation Limits and Oil Price Pressures

🗞️ What It’s About:

• Two UAE-based tech giants — Tabby, a Dubai-founded fintech (est. 2019), and Kitopi, a Dubai-based cloud kitchen startup (est. 2018) — are preparing to go public.

• Tabby is considering an IPO in 2026, while Kitopi sees its listing happening in 2 to 3 years, depending on macroeconomic conditions.

• Both companies raised concerns at the Capital Market Summit in Dubai this week (early May 2025), particularly regarding international investor participation and oil-linked regional volatility.

💡 Why It Matters:

• Hosam Arab, CEO of Tabby, criticized the IPO experience for global investors:

  • “They’ve done the work, they’re sold on the story, they’re sold on the market, and then they get a sliver of supply. For them, it’s just not worth the work and not worth the effort.”

  • “That’s where we’re a bit more concerned – around a broader recession having an impact on consumer spend and credit performance for consumers in the markets we operate in.”

• Mohamad Ballout, CEO and co-founder of Kitopi, said the company may delay listing if market conditions weaken:

  • “If markets continue to be as solid as they are now, that’s great. But… if the oil price changes and things end up not performing as well, then this was a good opportunity to double down and do more.”

• The remarks come amid broader concern that IPOs in the Gulf remain tilted toward state-led, real estate, and utilities sectors, with tech listings still relatively rare.

• The oil price downturn — now at a four-year low — and Donald Trump’s recent tariff hikes have created further investor hesitation.

🔜 What’s Next:

• Tabby — valued at $3.3 billion as of February 2025 — has raised over $2.1 billion across 14 rounds, backed by Mubadala, Sequoia Capital, and PayPal Ventures.

• Serving over 14 million users across the UAE, Saudi Arabia, Kuwait, and Egypt, it partners with 40,000+ brands like Amazon, IKEA, Adidas, and SHEIN.

• Tabby generates revenue through merchant commissions and minimal late fees, offering a Shariah-compliant BNPL model — and stands out in a region where credit card penetration hovers around 20%.

• Kitopi, which pioneered the Kitchen-as-a-Service (KaaS) model, operates 200+ kitchens across the Gulf and partners with over 200 restaurant brands, from McDonald’s to Pizza Express.

• Backed by SoftBank Vision Fund 2, Kitopi reached unicorn status in 2021, raising $802 million by 2022 with a valuation of $1.55 billion.

• Both companies could test whether global investors are ready to embrace Middle East tech IPOs — or whether structural barriers and oil volatility will keep them waiting.

🔍From Smashi Business’ Desk

• Damac's Ali Sajwani praises UAE's AI education initiative.

• The Story Behind Gaia, Carine, and Alaya: Chef Izu Ani’s Entrepreneurial Rise in UAE Culinary Scene.

• Dubai Duty Free sold AED28.52M worth of viral pistachio chocolates—in April alone.

🔍In other news…

•  Uber enters Turkey’s food delivery sector with $700m buyout.

•  Oman steps up efforts to curb rising unemployment.

• Meta suit against Israel's NSO offered rare insight into world of cyberespionage.

• ADQ prices $2bln dual-tranche bond in third debt capital markets issuance.

• UAE to co-fund $25bln Morocco-Nigeria gas pipeline project.

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