Happy Wednesday everyone!

Here’s what’s driving the MENA business scene today:

• BlackRock’s GIP Expands to Qatar 🚀: The infrastructure investment giant is setting up shop in Doha as Qatar attracts more global financial firms.

• Dubai’s DIFC Bets on Hedge Funds 📈: A new dedicated hub is launching to accommodate the growing number of hedge fund startups in the city.

• Saudi’s Ninja Seeks $1B+ Valuation 🛒: The quick commerce firm is in talks for pre-IPO funding, according to Bloomberg, signaling strong investor interest in MENA tech startups.

But before that: You can join our Whatsapp channel too to receive updates from the business world.

BlackRock’s GIP Expands to Qatar as Global Investment Firms Flock to the Region

📰 What is it about?

• BlackRock’s Global Infrastructure Partners (GIP) is setting up an office in Doha, marking a significant expansion into the Middle East and North Africa (MENA) region.

• GIP, which manages $170 billion in assets, will explore investment opportunities across the region.

• The move aligns with Qatar’s strategy to attract global financial firms, following its recent announcement that six venture capital firms, including Eduardo Saverin’s B Capital, are also establishing offices in the country.

💡 Why it matters?

• Qatar is ramping up efforts to compete with regional financial hubs like Abu Dhabi, Dubai, and Riyadh, which have successfully drawn major investment firms.

• Saudi Arabia’s regional headquarters policy has already attracted Wall Street giants, while Abu Dhabi and Dubai have become major hubs for hedge funds.

• With its $510 billion sovereign wealth fund, Qatar is using its financial strength to position itself as a growing investment destination.

🔜 What’s next?

• BlackRock, the $11 trillion asset manager, is steadily expanding in the Middle East, having already received approvals for operations in Saudi Arabia and Abu Dhabi.

• The firm is also reportedly considering setting up an office in Kuwait, signaling further regional growth.

• Qatar's continued push for financial sector expansion could bring more global investment players into the market.

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

📰 What is it about?

• ODEUM is a cutting-edge creative content studio under Augustus Media, blending data-driven insights with expert storytelling.

• We specialize in new media formats that help brands connect with their audiences through culture and community.

• From video production to social media management, we bring ideas to life with precision, creativity, and impact.

💡 Why Choose ODEUM?

✔ 7 Fully-Equipped In-House Studios – Ready for video production, shows, and podcasts in Dubai.
✔ State-of-the-Art Equipment – High-quality sound and video for professional-grade content.
✔ Seamless Production Experience – Recording, filming, and post-production all under one roof.
✔ Exclusive Amenities – Catering and pantry area available upon request.

🔜 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. Contact us here…

Markets

Dubai’s DIFC to Launch Dedicated Hedge Fund Hub Amid Industry Boom

📰 What is it about?

• Dubai International Financial Centre (DIFC) is opening a dedicated building for hedge fund startups, set to launch by end of April.

• The DIFC Hedge Funds Centre will offer short-term, plug-and-play office spaces for firms testing the market before scaling up.

• The facility will be located in DIFC’s former court building, providing tenants with networking spaces, trading capabilities, and support services.

💡 Why it matters?

• Dubai is positioning itself as a top destination for hedge funds, already hosting 75 major firms like Point72 and Andurand Capital.

• The city is shifting focus to smaller hedge fund startups, after attracting billion-dollar firms.

• The new hub will help ease space shortages, as hedge fund-friendly buildings like ICD Brookfield Tower near full occupancy.

🔜 What’s next?

• DIFC aims to secure 20-30 contracts for the 10,000-square-foot space by year-end.

• US, UK, Singapore, Hong Kong, and Indian firms have shown strong interest.

• Dubai’s hedge fund ecosystem will compete with Abu Dhabi, which is expanding its financial district to accommodate surging demand.

Saudi’s Ninja Eyes $1B+ Valuation in Pre-IPO Fundraising

What is happening?

• Saudi-based quick commerce startup Ninja is in talks to raise funding at a valuation exceeding $1 billion, sources close to the matter told Bloomberg.

• The investment round, led by Riyad Capital, could close this month.

• Ninja is also planning for an IPO by 2027, though timelines and valuation are still under discussion.

Why it matters:

• Signals strong investor demand for tech startups with IPO potential.

• Follows a broader IPO boom in Saudi Arabia, attracting unicorns like Tabby and Ejada Systems.

• Ninja’s expansion across Saudi Arabia, Bahrain, Qatar, and Kuwait highlights the region’s growing quick commerce market.

What’s next?

• If successful, Ninja will join the region’s fastest-growing tech unicorns.

• Riyad Capital, a major player in Saudi’s venture capital scene, strengthens its presence with this investment.

• Ninja’s growth could set the stage for more quick commerce IPOs in the MENA region.

🔍In other news…

• PwC seeks to mend relations with Saudi Arabia, sources have told Reuters.

• The $60 billion company formed by the merger of Adnoc and OMV AG’s chemical units is targeting a more than 50% boost in profits.

• Aramco shares fall, Saudi stock market dips -1.58%, as Saudi giant signals sharply lower dividends as special payout shrinks.

• BYD Group, China’s largest electric vehicle maker, is taking on luxury rivals in the UAE with its premium and supercar brands.

• Saudi PIF to anchor Goldman Sach’s new GCC-focused funds.

The Latest from the Smashi Business Studio

Were you forwarded this email? Subscribe here