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⚽🥊 Saudi PIF in Play for $1 Billion Slice of Sports Streaming Giant DAZN

Saturday, October 12, 2024

👋 Hey there,
Big moves are happening across the region, from major real estate expansions to high-profile investments and new travel experiences. Whether it's Abu Dhabi and Dubai's joint billion-dirham development, Saudi Arabia’s PIF eyeing a stake in a global sports streamer, or Emirates taking its travel experience to the next level in London, this week is all about big plans with even bigger impacts.

Now, let's dive into the details! 🏙️💼💸

🏙️ Aldar-Expo City Joint Venture Unveils Dh1.75 Billion Project

📰 What is it about?

  • Aldar and Expo City Dubai are collaborating on a Dh1.75 billion mixed-use development near Al Maktoum Airport, featuring residential, office, and retail spaces. The project is part of Expo City's master plan to establish the area as a prime business and lifestyle hub.

💡 Why it matters?

  • This joint venture showcases Dubai’s ambition to lead in sustainable urban living, integrating high-quality real estate with world-class conference and exhibition venues. It’s also a major step in strengthening Dubai’s position as a global trade and transportation hub.

🔜 What’s next?

  • With the new Expo City master plan in full swing, expect further developments in the region, including enhanced mobility and sustainable infrastructure. The area is set to become the largest indoor exhibition destination by 2031.

📈 Markets

🔼 EGX 30

30,762.32

-1.33%

🔽 DFMSI

2,586.20

+0.30%

🔼 ADX

9,250.75

-0.342%

🔼 Tadawul

11,994.22

+0.56%

⚽ Saudi Arabia’s PIF Eyes $1 Billion Stake in Sports Streamer DAZN

📰 What is it about?

  • Saudi Arabia’s Public Investment Fund (PIF) is in discussions to acquire a 10% stake in DAZN, the sports-streaming service, for about $1 billion. DAZN holds broadcasting rights for major football leagues like Serie A, LaLiga, and Bundesliga.

💡 Why it matters?

  • If the deal goes through, PIF will gain greater influence in European football broadcasting, expanding Saudi Arabia's already substantial footprint in the global sports industry. It aligns with the kingdom’s broader ambitions to lead in sports and entertainment.

🔜 What’s next?

  • While talks are ongoing, PIF is eyeing further investments in global sports. DAZN, on the other hand, aims to leverage the investment to expand its streaming portfolio amid growing competition.

Quote of the day
"Be mindful when it comes to your words. A string of some that don't mean much to you, may stick with someone else for a lifetime." -Rachel Wolchin

✈️ Emirates Launches First European ‘Emirates World’ Travel Store in London

📰 What is it about?

  • Emirates has opened its first ‘Emirates World’ retail store in South Kensington, London, offering customers an immersive travel experience with a glimpse of their premium in-flight services and interactive self-service screens.

💡 Why it matters?

  • This is a bold step in Emirates’ global expansion plans to enhance customer experiences. The store serves as a travel hub for customers to explore products, seek travel advice, and shop Emirates-branded items, reflecting the airline’s commitment to innovation.

🔜 What’s next?

  • Following London, Emirates plans to launch 40 similar stores globally, reinforcing its brand presence and customer engagement worldwide.

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