Happy Thursday everyone!

Saudi delivery giant Jahez is acquiring a 76% stake in Qatar’s Snoonu for $245 million, marking its entry into the Qatari market as part of its GCC expansion strategy. In Dubai, state-owned Dubai Airports has hired Moelis & Co to explore a potential IPO, AGBI reports, which could raise up to $1.5 billion and become a flagship listing in the emirate’s privatisation drive. Meanwhile, the UAE has jumped to 5th place globally in the 2025 World Competitiveness Rankings, with Saudi Arabia and Qatar also rising.

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Jahez Acquires 76% Stake In Qatar’s Snoonu In $245 Million GCC Expansion Move

🔹 What Is It About

Saudi Arabia’s Jahez is acquiring a 76.56% stake in Qatari delivery firm Snoonu for $245 million. The deal includes the purchase of existing shares and a capital injection, giving Jahez a controlling interest while Snoonu’s founder retains 23.44%. The acquisition, pending regulatory approval, is expected to close in the second half of 2025.

🔹 Why It Matters

This marks Jahez’s entry into the Qatari market and strengthens its regional footprint across the GCC. Snoonu, launched in 2019, operates a fast-growing multi-vertical platform covering food, grocery, e-commerce, and logistics—segments aligned with Jahez’s broader q-commerce and last-mile strategy.

🔹 What’s Next

Snoonu will continue to operate under its brand, with integration focused on scaling operations and synergies. Jahez will fund the transaction through a mix of cash, bank facilities, and treasury shares. EFG Hermes KSA and Kirkland & Ellis advised Jahez on the deal, which values Snoonu at $320 million.

Markets

Dubai Airports Explores IPO With Moelis Amid $35 Billion Aviation Expansion Push

🔹 What Is It About

Dubai Airports is exploring a potential initial public offering and has appointed Moelis & Co as financial advisor to evaluate strategic options, including an IPO or asset restructuring, AGBI exclusively reported. The listing, if pursued, would likely take place on the Dubai Financial Market and involve a secondary share sale by the Dubai government, valued between $1 billion and $1.5 billion.

🔹 Why It Matters

A potential IPO would mark a major milestone in Dubai’s ongoing privatisation strategy, following listings of entities like DEWA and Salik. Dubai Airports, which handled over 92 million passengers in 2023, could become one of the world’s most prominent airport listings, offering rare public exposure to a global aviation hub linking Asia, Europe, and Africa.

🔹 What’s Next

No final decisions have been made, but the listing could involve spinning off assets or using a holding company structure. Meanwhile, Dubai Airports is at the heart of the $35 billion Al Maktoum International expansion, part of a wider plan to make aviation a $196 billion contributor to Dubai’s GDP by 2030.

UAE Soars to 5th in Global Competitiveness; Saudi, Qatar Also Rise in 2025 Rankings

🇦🇪 United Arab Emirates

• Overall ranking: 5th worldwide, up two spots to its highest-ever position in 2025.

• Factor highlights:

  • Business Efficiency jumped from 10th to 3rd globally.

  • Economic Performance remains strong (2nd), and Government Efficiency sits at 4th.

  • Apprenticeships saw a big boost (27th → 6th), and worker motivation ranks 12th (score 6.91/10).

  • Challenge: female workforce participation is low (~23.6%) and declined slightly (63rd → 65th).

🇶🇦 Qatar

• Overall ranking: 9th globally, climbing two positions.

• Factor strength: Positioned in the top 10 nationally mainly due to improvements in labor-market efficiency and financial infrastructure.

• Recognized as a rising force in Gulf competitiveness through strategic investments .

🇸🇦 Saudi Arabia

• Overall ranking: 17th worldwide, improving one position.

• No detailed breakdown was provided in the summary brochure. Saudi Arabia falls behind UAE and Qatar in overall ranking, but remains ahead of other Gulf peers.

Other Gulf States

🇧🇭 Bahrain: 22nd globally

🇴🇲 Oman: 28th globally

🇰🇼 Kuwait: 36th globally

👨‍💻From Smashi Business’ Desk

• Dreamers: Saudi billionaire Prince Alwaleed bin Talal—one of the Middle East’s most influential investors — is back in the spotlight.

• Sequoia partner Shaun Maguire has apologized after posting a racist video targeting NYC mayoral candidate Zohran Mamdani, following a petition led by Wamda Capital’s Fadi Ghandour.

• The ICP has debunked viral rumours claiming Indians and Bangladeshis can buy a lifetime Golden Visa for AED 100,000.

• Crumbl Cookies may dominate North America, but it still hasn’t landed in Dubai. Filling the gap is homegrown brand Billionaire Cookies, founded in 2022 by Dubai residents Katie Murray and Alexandria Ashkar.

• Amr Diab signs with Orange Egypt, ending nearly a decade-long partnership with Vodafone.

🔍In other news…

• UAE wealth fund ADIA unit backs Paris-based Tikehau Capital’s $1.17bln capital raise

• Egypt’s Sawiris to invest $100M in motorbike electric conversion project in Morocco

• KIA offloads Bank of America stake for $3bn

• Saudi Arabia's new work permits to improve flexibility in hiring talent from overseas

• Jordan offers investors more pathways to citizenship after rules revamp

🏦Crypto Corner

• You can soon use crypto when paying at Dubai Duty Free and when flying Emirates in new landmark deal

• UAE authority clarifies no Golden Visa issuance for crypto investors

• Dubai Land Department teams up with Crypto.com on digital real estate investment plan

• Bitcoin Miner Tied to Trump Sons Plans Dubai Crypto Trading Team

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