- Smashi Business
- Posts
- Saudi Arabia Offers Hybrid Access for FII Summit; Emaar Teases Dubai Mall Plaza; PIF Prepares Revised Ten-Stadium World Cup Plan
Saudi Arabia Offers Hybrid Access for FII Summit; Emaar Teases Dubai Mall Plaza; PIF Prepares Revised Ten-Stadium World Cup Plan
AI, tech, startup and business stories from the Arab world. For the driven, the dreamers and the doers
In partnership with
Friday, October 16, 2026
Happy Friday everyone!
Hybrid event management, retail hospitality expansions, and sports infrastructure adjustments lead Middle Eastern business headlines today. Saudi Arabia plans to offer remote attendance options for its upcoming Future Investment Initiative (FII) conference from October 26 to 29 while maintaining in-person executive access in Riyadh. In Dubai, Emaar Properties founder Mohamed Alabbar shared a preview of Dubai Mall Plaza and Hotel, an outdoor pedestrian and hospitality project in Downtown Dubai. Meanwhile, Saudi Arabia’s Public Investment Fund (PIF) is preparing to submit a revised hosting plan to FIFA that drops five proposed venue builds, leaving ten stadiums for the 2034 World Cup.
Markets
EGX30 | 52,273.34 | +1.52% |
DFMGI | 5,892.57 | Closed |
ADX | 9,804.54 | -0.30% |
Tadawul | 10,106.54 | -0.32% |
Saudi Arabia Offers Remote Access for Future Investment Initiative Summit in Riyadh
🔹 What Is It About
Saudi Arabia will offer remote attendance for the tenth edition of its Future Investment Initiative (FII) conference in Riyadh from October 26 to 29. The hybrid model allows global financial executives to join discussions online while welcoming delegates attending in person. Known colloquially as "Davos in the Desert," the annual summit regularly brings together Wall Street leaders, including JPMorgan CEO Jamie Dimon and BlackRock CEO Larry Fink, and generated over $50 billion in announced investments during its 2025 event.
Offering Hybrid Attendance: The FII Institute will stream main sessions online while hosting physical delegates in Riyadh.
Gathering Global Leaders: The summit connects international institutional investors with regional business leaders.
Building on Past Capital: Previous conference editions facilitated more than $50 billion in direct investment commitments.
🔹 Why It Matters
Providing remote access options ensures global financial executives maintain participation in Saudi capital discussions during shifting regional travel schedules. The hybrid model allows the FII Institute to protect international deal flow while maintaining engagement with institutional investors. Keeping global finance leaders connected to Saudi investment teams supports project funding across domestic economic development sectors.
Maintaining Deal Momentum: Remote channels allow global executives to evaluate investment projects alongside on-site attendees.
Broadening Executive Access: Virtual participation options expand conference reach across international markets.
🔹 What’s Next
FII Institute managers will release digital access passes and finalize session schedules for virtual participants. Corporate leads will track remote attendance numbers and investment announcements during the four-day event.
Issuing Virtual Registrations: Organizers will open online portals for registered global delegates.
Tracking Conference Capital: Financial analysts will monitor deal disclosures during plenary sessions.
Subscribe Now!
Emaar Founder Mohamed Alabbar Previews Dubai Mall Plaza and Hotel Project
🔹 What Is It About
Emaar Properties founder Mohamed Alabbar shared a visual preview of Dubai Mall Plaza and Hotel, an incoming development in Downtown Dubai. Teased on social media, the project features a plaza-style pedestrian layout, outdoor dining areas, and architectural lighting framing views of the Burj Khalifa. The announcement follows Emaar's AED 1.5 billion ($408 million) Dubai Mall expansion plan, which includes The District retail zone alongside the planned 2.6 million square meter Dubai Square project at Dubai Creek Harbour.
Expanding Downtown Retail: The project complements Emaar's active AED 1.5 billion expansion of its flagship shopping complex.
Building Regional Footprints: Emaar advances large-scale retail projects, including Dubai Square at Dubai Creek Harbour.
🔹 Why It Matters
Adding outdoor plaza spaces and hotel capacity around Dubai Mall strengthens Downtown Dubai's status as a top global retail and tourism destination. Combining pedestrian promenades with hotel space encourages longer visitor stays and higher retail spending. Expanding physical retail infrastructure reflects continued confidence in brick-and-mortar store performance across primary Dubai tourism hubs.
🔹 What’s Next
Emaar project management teams will reveal financial details, architectural master plans, and construction timelines for Dubai Mall Plaza and Hotel. Contractors will advance early site works while retail leasing divisions begin partner discussions for boulevard storefronts.
Releasing Financial Details: Emaar will publish formal budget and completion schedules for the plaza project.
Initiating Tenant Leasing: Commercial teams will approach international fashion and dining brands for plaza locations.
Big companies hedge their risks. Now your business can too.
For US farm, ranch and small business owners.
Airlines hedge fuel. Food companies hedge crops. For decades, protecting a business from outcomes it can't control took a broker, a trading desk and an order size most owners never had.
Kalshi opens hedging up to small businesses. Pick the outcome that would hurt you, like a fuel spike, a heat wave, a new tariff or a rate hike, and take a position on it, starting at a few dollars. If it happens, the payout offsets the hit. If it doesn't, the contract expires and the good month was the point.
A California goat herder and a Maryland tea company already do it, and CNBC, Reuters and The New York Times have covered businesses hedging on Kalshi.
Kalshi is a federally regulated exchange.
Public Investment Fund Prepares Revised Ten-Stadium Plan for 2034 World Cup
🔹 What Is It About Saudi Arabia's Public Investment Fund (PIF) is preparing to inform FIFA that it plans to drop five proposed new stadium builds from its 2034 FIFA World Cup hosting plan. The revised plan narrows new stadium construction to three venues, leaving the Kingdom with a total of ten stadiums—six newly built and four refurbished existing facilities. The dropped builds include proposed arenas at NEOM, King Abdullah Economic City, Qiddiya Coast, Roshn, and New Murabba.
🔹 Why It Matters
Scaling back stadium construction allows the Public Investment Fund to manage domestic capital outlays and focus resources on infrastructure projects already underway. Removing venues tied to giga-projects that have paused or slowed construction lowers execution risks ahead of tournament deadlines. Concentrating World Cup venues in established metropolitan centers utilizes existing transport, hotel, and utility networks.
Adjusting Sovereign Spending: Dropping unbuilt venues aligns stadium commitments with updated budget priorities.
Reducing Execution Risk: Relying on urban stadiums ensures construction meets tournament delivery milestones.
🔹 What’s Next
Saudi sports authorities will submit the updated ten-stadium hosting proposal to FIFA for formal evaluation. Construction managers will focus site resources on building the King Salman International Stadium and updating active venues ahead of the 2027 Asian Cup.
Submitting FIFA Filings: Representatives will submit revised venue schedules to football governing bodies.
Unify Your Teams and Tech Stack With HubSpot
Connect your customer data, teams, and tools without the hassle of complex integrations or lengthy setups. One easy platform gives marketing, sales, and service teams a unified customer view and the tools to turn it into growth.
Why HubSpot and what's new
• Generate leads and automate marketing with Marketing Hub
• Build your pipeline and close more deals with Sales Hub
• Scale customer support and drive retention with Service Hub
• Keep customer data clean, connected, and actionable with one, unified platform
Join 306,000+ in over 135 countries using HubSpot to grow their businesses.
See what a more connected approach to growth can do for you and your team. Get setup quickly and start checking off your hardest tasks.
👨💻From Smashi Business’ Desk
Dubai-born fragrance brand KAYALI will enter China on October 15.
Saudi-born dining platform SPICE has ruled out offering cashback on shisha or alcohol at partner restaurants as it keeps its rewards model aligned with Islamic principles.
Uber will invest $50 million in Jordan over the next three years, targeting the country’s mobility ecosystem while supporting economic opportunities, tourism and access.
Dubai Crown Prince HH Sheikh Hamdan just shared his Etihad Rail ticket on Snapchat as Dubai-Abu Dhabi passenger services prepare to launch on September 30.
🔍In other news…
Phoenix Venture Partners: Abu Dhabi VC closes debut fund at $23M from 42 investors.
MENA Q3 Funding: Startups raise $1.65B across 145 deals, up 108% from Q2.
MNT-Halan IPO: Retail tranche is 2.68x covered, with EGP3.16B in orders for EGP1.18B.
Kraken UAE Launch: Payward gets VARA approval as Kraken prepares to launch with AED pairs.
3iQ Gets Approval: Digital asset manager receives in-principle FSRA approval for an ADGM licence.
du Pay × talabat: du Pay becomes the payments and wallet partner for talabat’s UAE fleet riders.
Sheraa Women Fellowship: 14 women founders selected for the six-month Sharjah Women Impact Fellowship.
Shams Launches Bedaya: Sharjah Media City launches its new initiative.
🦄 World of Startups
Echelon: Riyadh AI firm Echelon names East40, RAED Ventures, Avra and Ben Horowitz as backers.
MNT-Halan: MNT-Halan prices its EGX IPO at EGP 24.50 per share, valuing the 20% stake at EGP 7.84 billion.
Project Suppliers: Saudi platform Project Suppliers raises $1 million in pre-seed funding to develop AI cash-flow tools.
MoneyHash × VaultsPay: MoneyHash merchants can now accept VaultsPay’s UAE card and wallet payments without separate integration.
TiE Women MENA: Five startups win regional TiE Women MENA tracks and advance to the GITEX Global final.
Sheraa × Nestlé UAE: Sheraa, Nestlé UAE, MAJRA and UAE Food Cluster launch a three-month programme for young founders.
