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Dubai’s property market is slowing, but Danube Properties says long-term demand remains strong, with Adel and Rizwan Sajan arguing that the correction will separate disciplined developers from weaker players. Saudi Arabia’s PIF is tightening control of Al-Nassr after the club’s reported $213 million debt crisis, pushing for stronger governance and commercial sustainability. Meanwhile, Riyadh-based Ash Games is betting that ancient Arabian folklore can become a global gaming advantage, raising $1.5 million to build culturally inspired titles for international audiences.

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Danube's Adel Sajan Says Dubai Property Demand Remains Strong Despite Market Slowdown

What Is It About

“People say the war is happening and real estate is over. But come to our office and you see that’s simply not the case,” Adel Sajan told AGBI, Managing Director of Danube Properties, as he dismissed concerns over Dubai’s property slowdown. While Dubai Land Department data shows residential transactions and values declined in the second quarter, Danube says customer confidence remains intact. Chairman Rizwan Sajan added: “People who want to be in Dubai still want to buy.”

Why It Matters

Adel believes the market is undergoing a healthy correction rather than a collapse. “The pie has become smaller... but the developers competing for that pie have also reduced drastically,” he said, predicting weaker rivals could face delays. Rizwan echoed that view, warning: “The people who have gone overboard will be in trouble,” while arguing disciplined developers with strong cash flow are best placed to navigate the slowdown.

What’s Next

Danube says it will continue launching projects despite softer market conditions. “Why should I hold back?” Rizwan said, insisting demand will return even if sales take longer. Adel also expects the downturn to reshape the industry, saying: “Some consolidation is healthy for the market. It will separate the boys from the men.” The developer is also expanding overseas, opening a London office to attract more international buyers to Dubai.

PIF Tightens Grip on Al-Nassr as Club's $213 Million Debt Triggers Overhaul

What Is It About

Saudi Arabia’s Public Investment Fund (PIF) is moving to tackle Al-Nassr’s reported debt of more than $213 million (SAR 800 million). According to Arriyadiyah, the fund will tighten the club’s financial controls, appoint independent financial and legal advisers, and explore investment offers. The Cristiano Ronaldo-led club will also be barred from signing new players or coaches unless it secures funding through its own revenues and sponsorships.

Why It Matters

The move signals a shift toward stricter financial discipline in Saudi football after years of heavy spending on global stars. It also highlights growing pressure on clubs to become commercially sustainable, balancing ambitious investment with stronger governance and long-term financial stability.

What’s Next

The PIF is reportedly evaluating two serious investment proposals, favouring a partial sale over a full acquisition to preserve Al-Nassr’s market value. The club is expected to focus on boosting commercial revenues, reducing costs, and strengthening governance before resuming major spending in the transfer market.

A Riyadh Studio Just Raised $1.5M and is Betting on “Saudi Stories, History and Tradition” to Win Global Gamers

For Ash Games Studio, the pitch starts with a story most players have never heard. The Riyadh-based developer has raised $1.5 million in seed funding co-led by Merak Capital and Impact46 through the Merak Gaming Fund — capital the studio plans to pour into games built from Saudi and Arabian folklore rather than the genre templates dominating Steam.

Founded in 2022 by Yaser Alahmadi, with Anas Bakhsh serving as CEO alongside co-founder Saud Bakolka, the 18-person, remote-first studio has staked its identity on creating culturally rich, story-driven games with global appeal by combining authentic regional stories with accessible gameplay mechanics. That philosophy is most visible in its next release, Nomad: The Legend of Zarqa, a top-down action roguelite drawing from the pre-Islamic legend of Zarqa al-Yamama, a seer whose legendary sight anchors the game's world. Its signature mechanic lets players steer arrows mid-flight to strike enemies through difficult angles, and the title is targeting a Q1 2027 PC launch, with PlayStation and Xbox versions to follow.

It isn't the studio's first attempt to translate local culture into playable form. Its debut, Azooma Escape, a stealth-comedy built around dodging relatives at a Saudi family gathering, became the first game by an Arabic indie team to reach Steam's global front page after launching in August 2025, drawing over 20,000 pre-launch wishlists and a third-place finish at The Very Big Indie Pitch in Dubai.

The seed round adds momentum to a broader push: Ash Games has also drawn backing from NEOM, Saudi Arabia's Ministry of Communications and Information Technology, and other Vision 2030-linked programs, alongside a December 2025 MoU with Korea's Plithus for structured playtesting support.

Merak Capital, a CMA-licensed investment firm, and Impact46, a Riyadh-based multi-asset investment and advisory firm, are betting that authentic storytelling — not just publishing deals — can be the region's competitive edge.

With Nomad still in development, the real test will be whether stories rooted in Ancient Arabia can hold their own against the genre's biggest global names.

👨‍💻From Smashi Business’ Desk

• Dreamers: HH Sheikh Mansour bin Zayed Al Nahyan bought Manchester City for £200 million and transformed it into one of football’s greatest dynasties.

• Egyptian billionaire Naguib Sawiris has come to the defence of UAE businessman Mohamed Alabbar

• UAE Billionaire Al Habtoor Urges Iran to Apologise, Warns Gulf Will Bear Cost of War

• Saudi Arabia’s oil lifeline is facing a new threat - at Bab el Mandab

• The world’s first Arab pitmaster, who founded Mattar.ae Third Culture Barbecue in 2015, has announced a tallow-based skincare product and handcrafted high-protein steak chips.

🔍In other news…

• Iraq hunts for $77bn missing funds in corruption crackdown

• Qatar has launched a diamond exchange in a bid to position Doha as a regional hub for the global trade in rough and polished diamonds

• Red Sea shipping slows after Houthi attack on Saudi Arabia, data shows

• UAE, Canada conclude record-speed CEPA talks to boost trade 

• Saudi Arabia’s push to become a global gaming and esports powerhouse is creating a new generation of professional content creators, prompting livestreaming platform Kick to expand aggressively across the Gulf

• Iran says it still controls strait, not seeking talks, after Trump halts bombing

🦄 World of Startups

• ChatFeatured, Canada-based AI startup, raised $2M in a pre-seed funding round from BY Venture Partners (UAE/Lebanon) and other global investors

• Doctorbook, Syria-based healthtech platform, raised $16K in a pre-seed funding round from a group of angel investors, valuing the startup at $200K

• Carbar, Australia-based car subscription platform, is merging with Carasti, UAE-based car subscription business operating across the UAE, Saudi Arabia, Thailand, and Singapore, at a combined pre-raise valuation of $74M

• Fincart, Egypt-based eCommerce enablement platform, raised $2.8M in a seed funding round

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