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The UAE's outstanding bonds and sukuk reached $309.4 billion in Q1 2025, marking an 8.3% increase from the previous year. Sukuk accounted for 20.2% of this total, with new issuances hitting $4.9 billion, while bond issuances stood at $24.1 billion. The UAE ranks fourth globally in sukuk market share and second in the GCC for outstanding debt, holding 30% of the region's total.
Investor appetite in the GCC remains robust, particularly in Saudi Arabia and the UAE, with a notable shift towards quality issuers and specific sectors like tech, healthcare, and education. The recent Alpha Data IPO demonstrated strong investor confidence, highlighting a growing interest in profitable tech companies. Looking ahead, EFG Hermes anticipates significant IPO opportunities in consumer, healthcare, and education sectors, emphasizing early engagement with prospective issuers to align strategies effectively.
DIFC has announced the launch of sales for Heights Tower Residences, starting April 16, 2025. This 32-floor development will feature 366 residential units, from one-bedroom apartments to four-bedroom duplexes, alongside office and retail spaces, with completion expected in 2029.The project aims for LEED Platinum certification and includes amenities such as a family lounge, a temperature-controlled swimming pool, and a fitness center. Heights Tower is part of DIFC's strategy to enhance its appeal as a live-work-play destination, attracting global talent and investment.
The Dubai FinTech Summit 2025 will take place on May 12-13 at Madinat Jumeirah, attracting over 8,000 attendees from more than 100 countries. The event will feature over 300 speakers and 200 exhibitors, focusing on key topics such as AI in finance, blockchain, and ESG strategies. A highlight will be the FinTech World Cup Grand Finale on May 13, showcasing startups competing for investment and recognition.
UAE gold prices have decreased by Dh10 per gram over the weekend, prompting shoppers to take advantage of the drop ahead of 'Akshaya Trithiya.' This occasion is traditionally considered auspicious for purchasing gold, leading to increased consumer interest.
Fuse, a UAE-based fintech specializing in cross-border payment solutions, has secured $6.6 million in seed funding led by Northzone, with participation from Flourish Ventures and Alter Global. The company, which offers virtual international bank account numbers (IBANs), aims to expand its team and product offerings across MENA, currently serving over 20 clients, including DLocal and Airbnb. Recently, Fuse has begun direct payment services in Saudi Arabia, Egypt, and Jordan, facilitating currency disbursements for Indian and Chinese companies in the UAE.
e& Egypt has launched an instant international money transfer service via its e& Cash digital wallet, allowing users to receive remittances instantly from the UAE and Saudi Arabia. This initiative, developed with Banque du Caire, supports the Central Bank of Egypt’s goals for financial inclusion and offers a faster alternative to traditional remittance methods. To celebrate the launch, e& Egypt is running a campaign with prizes up to LE 1 million, with plans to expand the service to more remittance corridors in the future.
Dubai's property market is experiencing a surge in demand for furnished ready and off-plan homes, as investors seek quick returns. Units set to be handed over in just three months are particularly popular, with buyers often securing tenants in advance. This trend is driven by both developers and existing owners looking to capitalize on the market's momentum.
UAE fintech startup Fuse has secured USD 6.6 million in seed funding, led by Northzone, to enhance cross-border payments in the MENA region. The company plans to expand its team, obtain regional licenses, and broaden its product offerings, including virtual USD accounts and dirham IBANs, targeting global businesses entering MENA. Founded in 2023, Fuse aims to address the region's complex payment infrastructure, catering to underserved businesses amid a surge in e-commerce and digital transactions.
Basatne has acquired UAE-based Cartlow, enhancing MENA's circular economy by addressing the e-waste crisis and unlocking value in pre-owned electronics. This merger combines Basatne's reverse logistics expertise with Cartlow's AI-driven refurbishment, aiming to recirculate devices and expand globally. The initiative aligns with sustainability goals, targeting a significant reduction in e-waste while promoting responsible commerce.
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