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- Deyaar Flags Dubai Construction Challenges; TOURISE 2025 Drives Tourism Deals; Saudi-US Summit Planned
Deyaar Flags Dubai Construction Challenges; TOURISE 2025 Drives Tourism Deals; Saudi-US Summit Planned
Thursday, November 13, 2025
Happy Thursday everyone!
The UAE completed its first national Digital Dirham transaction, marking a milestone in its digital economy strategy. Conducted via the mBridge platform, the pilot demonstrates fast, secure government-to-government payments. Launched under the Central Bank’s Financial Infrastructure Transformation Programme, the move reinforces the UAE’s position as a global hub for digital finance and innovation.
Elsewhere, today’s top stories highlight major developments in investment and tourism across the Middle East. Deyaar CEO Saeed Mohammed Al Qatami says it’s “very tough” to find quality builders in Dubai, underscoring challenges in the city’s booming real estate market. In Riyadh, TOURISE 2025 enters day two, with Saudi Arabia advancing $773 million in tourism projects and fostering global partnerships to position the Kingdom as a leading travel destination. Meanwhile, Saudi Arabia is set to host a US-Saudi investment summit in Washington during Crown Prince Mohammed bin Salman’s visit, further strengthening international economic ties and strategic collaborations.
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
EGX 30 | 40,248.98 | 0.03% |
DFMGI | 6,072.06 | 0.496% |
ADX | 10,033.81 | 0.395% |
Tadawul | 11,254.88 | 0.14% |
“It’s Very Tough, It’s Very Challenging”: Deyaar CEO Says Finding Good Builders In Dubai Harder Than Ever
What It’s About?
Dubai’s real estate market is booming, with a property sold every two minutes on average from January to October. But developers are struggling to keep up. Deyaar CEO Saeed Mohammed Al Qatami told AGBI, “There are still good contractors available, but they’re facing issues with supply chains and with the subcontractors [they use],” highlighting challenges in labor availability and rising material costs amid soaring demand.
Why It Matters?
Developers like Deyaar rely on contractors rather than building themselves. While competitors such as Sobha, Azizi, and Emaar have launched their own contracting arms, Al Qatami said Deyaar sees opportunity instead of following suit: “There are a number of contracting companies looking for jobs now… They become easier for [us] to work with. [Those] companies are hungry for business.”
What’s Next?
Deyaar is navigating a construction backlog of AED7 billion, expecting projects to go live over five years, while adding another AED7 billion in developments. Al Qatami noted, “There is growth in population… but over the next four years, it’s only a matter of time for things to go down,” signaling potential market stabilization despite strong current earnings and rising sales.
Dubai’s Boldest Entrepreneurs Go Head-to-Head on ‘The Final Pitch’
Dubai becomes the global stage for ambition as the groundbreaking business-reality series ‘The Final Pitch – Dubai’ launches on 17 November, exclusively on OSN TV and OSN+. Hosted by creator and CEO John Aguilar, the show features a star‐investor panel: Sami Khoreibi (Incubayt Investments) and Jigar Sagar (Triliv Holdings). Sixteen visionary founders — from wellness and AI to fintech and sustainability — will pitch their ventures, gain mentorship and vie for real investment opportunities.
TOURISE 2025 Day 2 Highlights: Saudi Arabia Advances Tourism Investment and Global Partnerships
The second day of TOURISE 2025 in Riyadh showcased Saudi Arabia’s continued push to transform its tourism sector. With major investments, strategic partnerships, and growing international interest, the Kingdom reinforced its position as a global tourism hub, bringing together government leaders, investors, and international stakeholders to shape the future of the industry.
TOURISE 2025: Saudi TDF Secures $773 Million in Tourism Investments
On day two, the Saudi Tourism Development Fund (TDF) announced SR2.9 billion ($773 million) in strategic tourism projects and partnerships. Highlights include five integrated tourism projects in the Aseer region totaling 1,211 hotel keys, and the “Sareena” nature-focused destination. MoUs with Melia Hotels, ina Hospitality, and Italy’s Arsenale aim to introduce new hotel brands and luxury experiences. TDF CEO Qusai Al-Fakhri said the initiatives “solidify our role in building strategic partnerships” and will enhance the Kingdom’s capacity to host growing tourist flows while promoting sustainable development.
TOURISE Stimulates $113 Billion in Global Tourism Investments
TOURISE 2025 has already catalyzed $113 billion in investments to accelerate tourism transformation. Minister of Tourism Ahmed Al-Khateeb said the summit “turns ambitious visions into strategic partnerships and high-impact deals.” Investments by international and local players—including Melia Hotels, Radisson, GOCO Hospitality, and AlFozan Holding—will bolster infrastructure, human capital, and technology adoption. The funds aim to elevate visitor experiences, create quality jobs, and strengthen Saudi Arabia as a premier travel destination, combining cultural heritage with innovation and sustainable growth across the tourism ecosystem.
Italian Interest in Saudi Tourism Grows, Says Minister
Italian Tourism Minister Daniela Santanche highlighted rising interest from Italian travelers in Saudi Arabia. Speaking at TOURISE 2025, she emphasized opportunities to expand direct flights with ITA Airways and enhance cultural exchange. With Saudi tourist flows to Italy up 65% last year, Santanche noted, “Practical cooperation can be achieved by maintaining active international relations through Italian companies operating in Saudi Arabia.” She also stressed the potential of AI in tourism, advocating for technology use that preserves the human touch while enriching visitor experiences and promoting heritage-based tourism.
Saudi Arabia To Host Washington Investment Summit During Crown Prince Mohammed Bin Salman’s US Visit
What It’s About?
Saudi Arabia is set to host a US-Saudi investment summit in Washington on November 19, coinciding with Crown Prince Mohammed bin Salman’s visit, sources A source familiar with the planning said the summit, reportedly at the John F. Kennedy Center for the Performing Arts, will be co-hosted by Saudi Arabia’s Ministry of Investment and the US-Saudi Business Council. Bin Salman will meet President Donald Trump at the White House on November 18.
Why It Matters?
The summit highlights growing economic and investment ties between the US and Saudi Arabia. While Trump and bin Salman “may drop in,” their attendance is not part of the official program. The meeting also comes amid US efforts to encourage Saudi Arabia to join the Abraham Accords and potential discussions on a US-Saudi defense agreement, underlining the strategic as well as commercial importance of the visit.
What’s Next?
The event will offer opportunities for investors and business leaders to explore new partnerships, particularly in energy, technology, and infrastructure. While official details remain limited, the summit reflects ongoing collaboration and signals a potential deepening of US-Saudi economic and defense relations in the coming months.
🦄 World of Startups
Zid, Saudi e-commerce enablement platform, expands into Egypt through a partnership with digital store provider Zammit.
Bahrain launches $185mln fund to support SMEs
Deplike, Turkey-based AI music learning platform, raised undisclosed seed funding from 216 Capital to grow its Chordie AI app with 250K active users.
Chari, Morocco-based fintech and e-commerce platform, raised undisclosed Series A extension funding from Egypt’s DisrupTech Ventures to expand its embedded financial services for retailers.
Arab Therapy, Jordan-based online mental health platform, secured a strategic investment from Value Makers Studio (VMS) to grow its licensed telemedicine and corporate wellness services.
First Circle Capital, a female-led VC in Uganda and Morocco, raised $6M from IFC for its $25M pan-African fintech fund targeting pre-seed and seed-stage startups in fintech, insurtech, and climate tech.
👨💻From Smashi Business’ Desk
How Arab Business Leaders View Zohran Mamdani, New York City’s New Mayor
Dubai-listed Talabat reported a 31% jump in revenue to $1B, driven by higher user activity and booming food and grocery orders across the Middle East.
Beauty mogul Huda Kattan, founder of Huda Beauty, has called on the world not to look away from Sudan’s unfolding tragedy.
🔍In other news…
Developers rush to buy plots next to Oman-UAE railway
UAE businesses slow hiring despite positive outlook
Japanese firm NTT Data Group is considering building data centers in Saudi Arabia as it looks to capitalize on fresh momentum around artificial intelligence in the kingdom
Al Balad Development Company, backed by the Saudi Public Investment Fund, is to invest billions of dollars to develop thousands of hotel rooms in Jeddah’s historic Al Balad district
Middle East’s Largest private natural gas company, Dana Gas, to explore redevelopment of natural gas-fields in Syria
Egypt lures China to boost its $8bn investments
Kerzner International, the hotelier backed by the Investment Corporation of Dubai sovereign wealth fund, has partnered with Qatar’s Assets Group to develop Atlantis The Royal, Maldives
