Happy Sunday everyone!

Saudi’s HUMAIN and U.S.-based Replit have launched the Kingdom’s first nationwide AI coding program at FII9, aiming to build a “Nation of AI Coders” across schools, startups, and government. In Dubai, New York’s landmark Carlyle brand is expanding outside Manhattan for the first time, unveiling 40 ultra-luxury branded residences in a 32-storey tower in DIFC instead of a hotel. Meanwhile in Riyadh, DAMAC founder Hussain Sajwani met Prince Al-Waleed bin Talal and Communications Minister Abdullah Al-Swaha to discuss investments in AI, data centers, and real estate—reinforcing Saudi Arabia as his top market after the UAE.

We suggest a nice weekend read for you: AGBI Editor-at-Large Frank Kane’s opinion on recently concluded FII9.

But before that: For quick daily updates, follow us on Instagram, and you can watch our Smashi Business Show live every weekday from 10AM onwards (UAE time). Also, you can join our Whatsapp channel to receive updates from the business world.

Markets

New York’s Carlyle Expands to Dubai With Ultra-Luxury DIFC Residences

What It’s About?

The Carlyle, one of New York’s most iconic hospitality names, is expanding beyond Manhattan for the first time — and it’s choosing Dubai. Instead of a hotel, the brand will introduce The Carlyle Residences, a limited collection of 40 ultra-luxury homes in a new 32-storey tower in DIFC. Designed by renowned interior designer Tristan Auer, the residences will reflect the brand’s classic Upper East Side aesthetic with marble, bronze accents, and handcrafted finishes. Units will range from two to five bedrooms, capped by a six-bedroom duplex penthouse with a private wellness floor.

Why It Matters?

This marks a shift in luxury hospitality — where heritage hotel brands are transforming prestige into real estate exclusivity. For Dubai, it underscores DIFC’s evolution into a prime address not just for finance, but global luxury living. For The Carlyle’s parent brand, this is a strategic move to monetize legacy outside traditional hotel operations, tapping into Dubai’s booming branded residence market.

What’s Next?

Pricing details remain undisclosed, but demand is expected from ultra-high-net-worth buyers seeking exclusivity and brand prestige. Analysts will be watching whether The Carlyle’s New York legacy translates into long-term value in Dubai and if more storied hotel names follow the same route.

Binance Blockchain Week 2025 to Return to Dubai with Star-Studded Web3 Lineup

Binance, is set to host its flagship event, Binance Blockchain Week, at the Coca-Cola Arena in Dubai on December 3rd and 4th.

The 2025 edition will unite leading voices from the global Web3 and blockchain ecosystem, celebrating milestones and exploring the next phase of the industry’s evolution. The conference promises an impressive lineup of keynote speakers, covering exchanges, smart contracts, education, investment, and regulation, reflecting Binance’s growing global influence.

Confirmed speakers include Michael Saylor, Executive Chairman of Strategy, making his first UAE crypto appearance; Brad Garlinghouse, CEO of Ripple; Lily Liu, President of the Solana Foundation; Raoul Pal, Co-Founder and CEO of Real Vision; and CZ, Founder of Giggle Academy, BNB Chain, and Co-Founder of Binance and many more. In addition to the esteemed lineup, Binance Blockchain Week will also feature key leaders from Binance, including Yi He, Co-Founder; Richard Teng, Chief Executive Officer; Rachel Conlan, Chief Marketing Officer; and Catherine Chen, Head of Binance VIP & Institutional.”

Binance Blockchain Week represents the pinnacle of the brand’s 1,500 global events, bringing together opinion leaders, builders, regulators, and community members to shape the future of Web3. Returning to Dubai for a second year, the city continues to establish itself as a global hub for blockchain innovation, supported by a progressive regulatory landscape and thriving tech ecosystem.

Saudi Arabia Signs First Country-Wide AI Coding Partnership with Replit and HUMAIN

What It’s About?

Saudi Arabia’s PIF-backed AI company HUMAIN has signed a landmark partnership with U.S.-based platform Replit during the Future Investment Initiative (FII9) in Riyadh, marking the Kingdom’s first country-wide AI coding program. The initiative will train students, developers, civil servants, and entrepreneurs across Saudi Arabia and the wider GCC to build AI-powered software using natural language. Replit founder and CEO Amjad Masad called it a “full-circle moment” — the first version of Replit was built in the Middle East, and now, it returns to help create a “Nation of AI Coders.”

Why It Matters?

This move signals Saudi Arabia’s shift from being a consumer of global technology to a producer of AI, software, and intellectual property. It directly aligns with Crown Prince Mohammed bin Salman’s Vision 2030 strategy, which emphasizes digital sovereignty, local talent, and economic diversification. It also intensifies Saudi’s competition with the UAE, China, and the U.S. in the global AI race.

What’s Next?

Expect national AI-learning rollouts across schools, universities, ministries, and startups, along with investment in sovereign cloud infrastructure and Arabic AI models. Analysts say the success of this partnership will depend on whether Saudi can scale talent, infrastructure, and exportable AI products—not just ambition.

Billionaires Sajwani and Prince Alwaleed Hold Investment Talks During Riyadh’s FII Week

What It’s About?

While in Riyadh for FII Week, DAMAC founder Hussain Sajwani held separate meetings with Prince Al-Waleed bin Talal, the Middle East’s richest man, and Saudi Minister of Communications and IT Abdullah Al-Swaha. The discussions centered on global investment trends, data centers, artificial intelligence, and expansion opportunities in Saudi Arabia. Both Sajwani and Prince Al-Waleed were featured on the 2025 Forbes Billionaires List, underscoring their continued influence in regional and international markets.

Why It Matters?

Sajwani has openly said that Saudi Arabia is his most important market after the UAE, and has already invested in data center infrastructure in Dammam. Prince Al-Waleed, through Kingdom Holding, remains a powerful force in global equity, hospitality, and tech. Their meetings signal growing alignment between Gulf billionaires at a time when Saudi Arabia is pushing private-sector partnerships to drive Vision 2030 — especially in real estate, digital infrastructure, and AI.

What’s Next?

Industry watchers expect potential collaborations or capital flows between DAMAC, Kingdom Holding, and Saudi tech or infrastructure entities. As Saudi increases incentives for foreign and regional investors, more UAE-based conglomerates may follow. Any announcements following these meetings could shape the Kingdom’s role as the Gulf’s investment and digital innovation hub.

🦄 World of Startups

• Egyptian-Saudi AI solutions startup Velents closed a $1.5M funding round and launched the first fully integrated Arabic-speaking AI employee, Agent.sa.

• Pakistani co-working startup COLABS to expand into Kingdom with flagship site in Riyadh.

• UnifyApps Raises $50 million to scale enterprise AI Platform and expand Gulf presence.

• 1001 AI, a deep-tech startup dual-headquartered in London and Dubai and founded by Bilal Abu-Ghazaleh, has raised $9 million in a seed funding round with participation from Amjad Masad (Replit), Amira Sajwani (DAMAC), Khalid Bin Bader Al Saud (Saudi RA’ED Ventures), and Hisham Al-Falih (Lean Technologies).

• The Canadian regulatory authorities granted Whish Money, Lebanon-based remittances and mobile wallet platform, financial services licenses to operate in Canada.

👨‍💻From Smashi Business’ Desk

• All aboard Saudi Arabia’s “Dream of the Desert” — the Kingdom’s first ultra-luxury train unveiled at the Future Investment Initiative in Riyadh.

• Saudi delivery app Shgardi has shut down after five years in operation — a sign of how fierce the Kingdom’s delivery wars have become.

• UAE Tycoon Al Habtoor Slams Israeli Minister Over Remark That Saudis Should ‘Keep Riding Camels in the Desert’

• Pavel Durov’s tweet on the Louvre heist takes an unexpected turn, blending humor with sharp criticism of French security.

• UAE’s Hadban Twins Among First 25 Creators Honoured With Instagram Rings in New York.

🔍In other news…

• Delta Launches First Route to Saudi Arabia

• Saudi Developer Partners with Google on AI

• Four Seasons Residences to Open on Shura Island with Red Sea Global

• PIF-Backed Kayanee, Founded by Princess Reema, to Expand Across the Gulf in 2026

• UK–Gulf Trade Deal Close to Completion After Reeves Visit

• Dubai Duty Free Records Over Dh800 Million in October Sales, a New High

🏦 Crypto Corner

• We have launched our Smashi Crypto newsletter. Subscribe to it here to get the bi-weekly updates from the world of digital assets.

• The weekly Smashi Crypto Show is also live. Expect it every Friday. Listen to it here.

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