BlackRock, the world’s largest asset manager, has entered into a non-binding Memorandum of Understanding (MoU) with the Public Investment Fund (PIF) of Saudi Arabia. The MoU outlines the establishment of BlackRock Riyadh Investment Management (BRIM), a wholly owned subsidiary of BlackRock. The non-binding MoU between BlackRock and PIF sets the stage for the creation of […]
Deal & transactions
Real Estate, Construction & Infrastructure
United Arab Emirates
Smart Urban Living: Aldar-Siemens Initiative at Saadiyat Grove
Aldar Properties and Siemens join forces to transform Saadiyat Grove into a global smart living exemplar. Using Siemens’ Xcelerator portfolio and Building X platform, Aldar will introduce the UAE’s first cloud-based smart district management
Capital Markets
Egypt
Real Estate, Construction & Infrastructure
Updates
MBH Advises on Rixos Premium Alamein Hotel Agreement
Matouk Bassiouny & Hennawy (MBH) has successfully acted as the legal counsel for the owning company in negotiating and concluding the management agreement with Rixos, a part of Accor’s portfolio, one of the world’
Capital Markets
Real Estate, Construction & Infrastructure
United Arab Emirates
Alpha Dhabi Holding Divests 49% Stake to ADQ
Alpha Dhabi Holding (ADH) has announced its decision to divest 49% of its subsidiary, Alpha Dhabi Construction Holding (ADCH), to ADQ, an Abu Dhabi-based investment and holding company. Under the terms of the agreement, Alpha Dhabi
Deal & transactions
Real Estate, Construction & Infrastructure
United Arab Emirates
Olayan and Lunate Acquire Stakes in ICD Brookfield Place
In a significant move in the realm of real estate investment, the Investment Corporation of Dubai (ICD) and Brookfield Corporation have announced an agreement with Olayan Financing Company and Lunate for the sale of a 49
Deal & transactions
Real Estate, Construction & Infrastructure
United Arab Emirates
AD Ports Group and Archireef Deploy Eco Sea Wall Panels
AD Ports Group and Archireef have partnered to introduce Eco Sea Wall Panels along the shorelines of Saadiyat Island and Al Aliah in Abu Dhabi. These panels are made from natural materials such as oyster
Banking & Finance
Real Estate, Construction & Infrastructure
Saudi Arabia
Clifford Chance on Cenomi Properties $500 Million Sukuk Issuance
Global law firm Clifford Chance has advised the joint lead managers for a significant sukuk issuance totalling US$500 million by Arabian Centres Company, also known as Cenomi Properties. Additionally, Clifford Chance advised the dealer managers
News
Real Estate, Construction & Infrastructure
United Arab Emirates
ADGM Announces New Incentive Initiative for Al Reem Island
Abu Dhabi Global Market (ADGM) has launched a new incentive initiative exclusively for established businesses on Al Reem Island operating within the non-financial and retail sectors. This strategic move is designed to support these businesses
Deal & transactions
Real Estate, Construction & Infrastructure
United Arab Emirates
Dubai Holding Welcomes Nakheel and Meydan into its Portfolio
Under the visionary directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, Nakheel and Meydan will merge with Dubai Holding, marking a significant step towards sustained
Deal & transactions
Real Estate, Construction & Infrastructure
United Arab Emirates
ADREC Teams Up with Bayut, Dubizzle and Property Finder
Abu Dhabi’s Real Estate Centre (ADREC) has signed a Memorandums of Understanding (MoUs) with leading real estate platforms, Bayut, Dubizzle, and Property Finder. The objective is to augment transparency, efficiency, and decision-making within Abu
