Happy Tuesday everyone!

Dubai continues its reign as the world’s top destination for Greenfield FDI, attracting AED 52 billion in projects last year. Meanwhile, Sheikh Tahnoon’s Multiply Group is exploring a $1 billion sale of its district cooling unit, signaling shifts in the UAE’s infrastructure sector. Over in Saudi Arabia, PIF has launched Al Waha Duty Free, marking the Kingdom’s first locally owned duty-free operator to tap into booming travel retail.

And a special stock markets update…

Let’s dive in!

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Dubai Leads the World in Greenfield FDI for the Fourth Year!

📰 What is it about?

• Dubai has once again ranked as the world’s top destination for Greenfield Foreign Direct Investment (FDI) projects, according to fDi Markets, a service by the Financial Times Ltd.

• The emirate attracted 1,117 Greenfield FDI projects in 2024, valued at over AED 52 billion, marking a 33% increasefrom the previous year.

• A total of 1,826 FDI projects were announced, reflecting an 11% year-on-year growth.

• Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, announced the achievement on his X account, crediting Dubai’s leadership and strategic vision.

💡 Why it matters?

• This solidifies Dubai’s position as a global investment hub, attracting businesses and investors from around the world.

• The sharp rise in FDI projects drives job creation, economic diversification, and innovation in key sectors.

• It aligns with the Dubai Economic Agenda D33, which aims to double the emirate’s economy and establish it among the world’s top three cities.

• The ranking reflects the success of business-friendly policies, regulatory reforms, and strong infrastructure that make Dubai a magnet for foreign investment.

🔜 What’s next?

• Dubai will continue focusing on sustainability, digital transformation, and emerging industries to maintain its leadership in global FDI.

• Investors can expect new incentives, streamlined regulations, and expanded business opportunities in tech, finance, and renewable energy.

• With global competition increasing, Dubai aims to further enhance its economic strategies to attract more international businesses and investors.

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.

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

• Animation: Custom animation for videos, explainer videos, 2D/3D animations, character design.

• Originals: Development and creation of original content, including web series, films, and documentaries.

• Studios: Full-service studio solutions, including recording, editing, mixing, and mastering for both video and audio projects.

🔜 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, Facebook, and X.

Market Report

Global markets have entered a phase of heightened anxiety, as recession fears continue to take a firm grip on investor sentiment, sending shockwaves across various exchanges.

Middle East: In Egypt, the EGX 30 barely budged, edging up 0.02% to 31,137.03. In the UAE, Dubai’s DFMSI dropped 2.07% to 2,989.11 and Abu Dhabi’s ADX slipped 0.58% to 9,392.57. Next door, Saudi Arabia’s Tadawul fell 0.77% to 11,745.63, reflecting broader regional market struggles and uncertainty.

Global: Global stocks fell sharply on Monday, with the Dow down 552 points (1.3%), the S&P 500 shedding 2.3%, and the Nasdaq losing 3.6%. Both the S&P 500 and Nasdaq hit their lowest levels since September 2024, led by declines in major tech stocks like Tesla (-10%), Alphabet, Meta, and Nvidia (all -4%). Investor concerns over potential tariffs by US President Donald Trump on Canada, Mexico and China, and a recession continue to weigh heavily on the market. The S&P 500 lost 3.1% last week alone, its worst performance since September. Trump’s tariffs and policies, coupled with key economic data, including the CPI and PPI, which will be released this week, added further market uncertainty.

Sheikh Tahnoon’s Multiply Group, Known for Its Investments in Getty Images and Rihanna’s Lingerie Company, Eyes $1 Billion Sale of Cooling Unit

📰 What is it about?

• Multiply Group PJSC, an Abu Dhabi-based investment firm, is considering selling its district cooling division, PAL Cooling Holding, according to Bloomberg.

• The firm is working with Standard Chartered Plc on the sale, with a target valuation of around $1 billion, according to sources.

• The sale has already attracted interest from regional and international investors. However, discussions are still in early stages, and a final decision is yet to be made.

💡 Why it matters?

• District cooling is a key industry in the UAE, supporting residential and commercial developments amid a construction boom.

• The potential sale signals Multiply Group’s strategic portfolio reshuffling, focusing on exits and acquisitions to enhance shareholder value.

• The sector has seen major consolidation, with companies like Tabreed and Empower making significant acquisitions in recent years.

🔜 What’s next?

• If the sale goes through, it could reshape the district cooling sector, potentially leading to new market leaders.

• Investors will be watching to see if Multiply reinvests the proceeds into new sectors, aligning with its diverse investment strategy.

• The rising demand for sustainable cooling solutions in the UAE could drive further M&A activity in the industry.

PIF Launches Saudi Arabia’s First Duty-Free Company to Boost Travel Retail

What is happening?

• Public Investment Fund (PIF) has launched Al Waha Duty Free Operating Co., the first Saudi-owned duty-free operator.

• The company will develop luxury retail outlets at airports, land border crossings, and seaports, offering a diverse range of products, including unique Saudi-made items.

• The move is part of PIF’s broader strategy to expand Saudi Arabia’s travel retail market and contribute to its economic diversification goals.

Why it matters:

• Strengthens Saudi Arabia’s position as a global tourism hub, aligning with its goal to attract 150 million visitors by 2030.

• Enhances traveler experience with a seamless digital journey and expanded shopping options.

• PIF is leveraging its $925 billion in assets to drive major tourism and retail developments, including Riyadh Air and Cruise Saudi.

• The Kingdom is preparing to host major global events, including Expo 2030 and the 2034 FIFA World Cup, increasing demand for high-end travel retail.

What’s next?

• Expansion of duty-free operations across Saudi Arabia, including airports, land borders, and inflight shopping.

• More investments in premium retail experiences, enhancing Saudi Arabia’s status as a luxury shopping destination.

• Increased competition in the regional travel retail market, with Saudi Arabia aiming to rival major global hubs like Dubai and Singapore.

🔍In other news…

• Boost for Arab soccer as Red Bull sponsors Egypt’s Al Ahly.

• Dubai seeks consultant for new metro Gold Line: report

• Saudi Arabia lifted a ban on cinemas. Now it just needs people to turn up, reports FT.

The Latest from the Smashi Business Studio

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