Marhaba folks! 🌟

• Hey there 👋,
  Here’s a fresh round-up of today’s top stories in the business world. From major investments in Egypt’s tourism sector to a groundbreaking partnership in the health and fitness industry—let's dive in! 💼👇

🏨 Emaar's Mohamed Alabbar Eyes Gulf Tourists for Egypt's Booming Tourism

📰 What is it about?

• Emaar Properties Chairman Mohamed Alabbar is focusing on attracting Gulf tourists to Egypt, aiming to capture a share of the $90 billion annual Gulf tourism spend. Emaar Misr plans to invest $1 billion in 2025 after the success of The Address Hotel.

💡 Why it matters?

• This move could significantly boost Egypt’s tourism sector and attract high-spending Gulf tourists, supporting the local economy.

🔜 What’s next?

• Emaar Misr will continue to expand its projects, and we can expect more Gulf visitors as awareness of Egypt’s appeal grows.

📈 Markets

💪 Bioniq and Technogym Join Forces in Dubai for a Personalized Health Revolution

📰 What is it about?

• Vadim, co-founder of Bioniq, has teamed up with Nerio Alessandri of Technogym to merge their AI-driven health solutions and fitness technologies, promising to deliver more personalized wellness experiences.

💡 Why it matters?

• This partnership integrates health supplements with cutting-edge fitness equipment, potentially setting new standards for personalized health.

🔜 What’s next?

• Their collaboration is expected to enhance user experience in fitness and wellness at exclusive luxury locations like SIRO Hotels.

Quote of the day
“Success usually comes to those who are too busy to be looking for it.” —Henry David Thoreau

🏗️ Naguib Sawiris Warns of Potential Real Estate Bubble in Egypt

📰 What is it about?

• Egyptian billionaire Naguib Sawiris has raised concerns about a possible real estate bubble in Egypt, citing rising interest rates, inflation, and economic pressures that could stifle the industry.

  💡Why it matters?

• High interest rates and rising material costs could jeopardize real estate development and hurt the broader economy.

🔜 What’s next?

• Sawiris urged the Central Bank of Egypt to reassess its loan interest policies, a key factor in determining the future of Egypt's real estate market.

In other news…

1. Abu Dhabi shuts down two restaurants amid food safety violations.

2. IHG and Aldar are transforming six hotels on Yas Island into one luxury resort.

3. South African lender Investec has opened a new office in Dubai International Financial Centre (DIFC),

4. McDonald’s UAE drives new initiative to aid 3,000 patients in need, amid boycotts.

The Latest from the Smashi Business Studio

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