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- Gulf's Strait Plan; SpaceX's $1.75T IPO; Dubai Property Still Surging
Gulf's Strait Plan; SpaceX's $1.75T IPO; Dubai Property Still Surging
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Friday, April 3, 2026
Happy Friday everyone!
In the wake of developments in the region, we hope everyone stays safe. At this critical moment, it is essential to remain united and follow guidance issued by official authorities from your country.
Markets
EGX30 | 46,455.13 | 0.59% |
DFMGI | 5,510.71 | 0.611% |
ADX | 9,582.64 | 0.695% |
Tadawul | 11,262.23 | 0.07% |
QE Index | 10,227.18 | 0.42% |
Gulf States Weigh New Pipelines To Bypass Hormuz Chokepoint
What Is It About?
Gulf countries are revisiting plans to build new oil and gas pipelines that bypass the Strait of Hormuz, as tensions with Iran raise fears of prolonged disruption, according to an FT report. The renewed focus comes as existing alternatives like Saudi Arabia’s East-West pipeline — which carries crude to the Red Sea — prove critical during the current conflict.
Why It Matters?
The strait handles a significant share of global energy flows, making it one of the world’s most important chokepoints. Any disruption threatens oil supply, prices and regional stability. New pipelines could reduce dependence on vulnerable sea routes, but they come with steep costs, geopolitical hurdles and security risks across multiple countries.
What’s Next?
In the near term, Gulf states are likely to expand existing infrastructure, including Saudi routes to the Red Sea and the UAE’s pipeline to Fujairah. Longer term, more ambitious cross-border networks — potentially linked to broader trade corridors — are back on the table, though timelines remain uncertain as governments assess the evolving security situation.
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Dubai Property Market Defies War Jitters With $5 Billion Apartment Sales Surge
What Is It About?
Dubai’s property market is holding firm despite regional conflict, with off-plan apartment sales hitting AED 17.5 billion ($4.8 billion) in March, according to Dubai Land Department data. Transaction volumes rose to nearly 8,000 deals, driven by strong demand in key areas like Dubai Islands and developments near Al Maktoum International Airport.
Why It Matters?
The surge signals continued investor confidence even as geopolitical tensions test Dubai’s safe-haven status. Analysts, including S&P Global, say the market is more resilient than in 2008, supported by long-term investors and reforms like the UAE’s Golden Visa. High-net-worth buyers are also turning to real estate as a hedge against regional currency and market volatility.
What’s Next?
Momentum is expected to continue, particularly in ultra-luxury and strategic developments, though early conflict-driven caution remains. Investors are likely to balance liquidity with tangible assets, while policymakers’ visa and residency reforms should sustain demand. For now, limited physical damage and strong fundamentals suggest Dubai’s property market will retain its appeal despite ongoing regional uncertainty.
Gulf-Backed SpaceX Files For Record $1.75 Trillion IPO
What Is It About?
Gulf-backed SpaceX has confidentially filed for an IPO with the US Securities and Exchange Commission, targeting a valuation above $1.75 trillion. The company counts major regional investors including Saudi Arabia’s Kingdom Holding Company, Oman’s Oman Investment Authority, Qatar’s Qatar Investment Authority and the UAE’s MGX.
Why It Matters?
If successful, the listing could become the largest IPO ever, surpassing Saudi Aramco and redefining global capital markets. SpaceX’s dominance in launch services and Starlink’s fast-growing satellite internet business underpin revenues nearing $20 billion. Its integration of xAI signals a broader shift toward AI-driven infrastructure, positioning the company at the intersection of space, connectivity and artificial intelligence.
What’s Next?
SpaceX is expected to begin investor roadshows soon, with a potential June listing timeline. Final details, including pricing and share allocation, will be disclosed in a public filing. The company is weighing a dual-class structure to retain control for Elon Musk and may allocate up to 30% of shares to retail investors, signaling strong demand and broad participation in what could be a landmark market debut.
How Jennifer Aniston’s LolaVie brand grew sales 40% with CTV ads
The DTC beauty category is crowded. To break through, Jennifer Aniston’s brand LolaVie, worked with Roku Ads Manager to easily set up, test, and optimize CTV ad creatives. The campaign helped drive a big lift in sales and customer growth, helping LolaVie break through in the crowded beauty category.
👨💻From Smashi Business’ Desk
The Uber Co-Founder Who Recently Became a Saudi Citizen Just Turned His CloudKitchens Venture into a Robotics Company
Supplements maker Bioniq, backed by Ronaldo, to be acquired by Herbalife for up to $150m
Dubai Billionaire Cookies Founders Are Open to Selling the Company After Closure Announcement
UAE Millionaire Lewis Allsopp Just Launched the ‘Ticketmaster of Dubai’: Seatsy
🔍In other news…
Saudi Kingdom Holding to acquire Prince Alwaleed’s stake in BEV for $68mln
Sudan Gold Exports to UAE Slump After Diplomatic Ties Severed
Gucci-owner Kering raises $1.4bln by offloading majority in Milan building to Qatari buyer
PIF-backed Newcastle United reports profit after stadium sale
Hillhouse Investment opens Abu Dhabi office as war in the region drags on
Singapore to Rollout Support as Iran War Disrupts Energy Supply
TotalEnergies and Masdar to form $2.2 billion Joint Venture to Accelerate Renewable Energy Growth in Asia
🦄 World of Startups
Stake Raises $31M Series B Led by Emirates NBD, Total Funding Hits $58M
US-based Luma AI is planting its flag in Riyadh — opening a regional headquater
Singapore's Ascentium continues its aggressive expansion, acquiring UAE legaltech pioneer Clara in a strategic Middle East play
Abu Dhabi is quietly becoming one of the most influential financiers of the global AI race, with its latest participation in Anthropic’s massive $30B funding round
Safqah Capital has just closed one of Saudi Arabia’s largest-ever seed rounds, raising $15.2 million in a deal that was four times oversubscribed
