Happy Sunday everyone!

Dubai Investments is preparing a potential IPO of its Dubai Investments Park unit, eyeing a stake sale of up to 25% as the emirate’s property market soars. In fintech, Saudi unicorn Tamara has secured more than $1.4 billion in credit facilities—one of MENA’s largest asset-backed deals—to fuel its expansion. Meanwhile, PwC has unveiled its new 22,400 sq. meter regional headquarters in Riyadh’s Laysen Valley, reinforcing its long-term commitment to Vision 2030 and the Kingdom’s transformation journey.

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Markets

Dubai Investments Eyes IPO Of Dubai Investments Park Unit Amid Property Boom

🔹 What Is It About

Dubai Investments PJSC is weighing an initial public offering of its Dubai Investments Park Development Co., which manages one of Dubai’s largest mixed-use projects. The company may sell up to a 25% stake by February, according to CEO Khalid Bin Kalban. The park spans 2,300 hectares, housing industrial, commercial, and residential zones, with occupancy exceeding 90%. Sources value the development between Dh8 billion and Dh10 billion ($2.2–$2.7 billion).

🔹 Why It Matters

The potential listing comes as Dubai’s property market remains red-hot, with residential prices surging more than 70% in four years, fueled by visa reforms and growing demand from end-users. Dubai Investments has outperformed the market, with its shares up 32% this year versus a 15% gain in the Dubai benchmark index. The IPO would follow a wave of successful real estate and construction-related listings in the UAE, reflecting strong investor appetite.

🔹 What’s Next

Dubai Investments plans to use proceeds from the IPO to expand and develop new parks, while also exploring strategic investors and private placements. Subsidiaries including Emirates Glass and district cooling operator Emicool may also consider listings in the future. The park, home to more than 160,000 residents, is strategically located near Al Maktoum International Airport, which is undergoing a $35 billion expansion—boosting prospects for future growth and rental demand.

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Tamara Secures $1.4B+ Credit Facilities In Landmark MENA Financing Deal

🔹 What Is It About

Saudi-based fintech unicorn Tamara has secured more than $1.4 billion in credit facilities from global lenders including Goldman Sachs, Apollo Global Management, and Citi. The new funding refinances and expands previous facilities, with Bloomberg reporting the package could grow to as much as $2.4 billion—making it one of the largest asset-backed financing deals in the Middle East and North Africa region.

🔹 Why It Matters

The deal underscores investor confidence in the GCC’s fast-growing fintech sector, where Tamara has emerged as a market leader. Since reaching unicorn status in 2023, less than three years after its launch, the company has seen strong growth in buy now, pay later (BNPL) services. Its funding milestone comes amid intensifying competition, as rival Tabby secured $700 million in facilities led by J.P. Morgan last year.

🔹 What’s Next

Tamara plans to deploy the proceeds to strengthen its balance sheet and scale its offerings across the region. With the BNPL and digital payments market expanding rapidly in Saudi Arabia and the wider GCC, the new facilities will give Tamara more firepower to accelerate growth, expand partnerships, and defend market share against rising competition in the sector.

PwC Opens Regional Headquarters In Riyadh’s Laysen Valley To Support Vision 2030

🔹 What Is It About

PwC has inaugurated its new 22,400 sq. meter regional headquarters in Laysen Valley, Riyadh, marking a major milestone in its expansion across Saudi Arabia. The hub, unveiled during the firm’s annual partners’ meeting on Sept. 10, includes the Middle East’s largest Experience Center, a forensics lab, PwC Academy, Majlis, and wellness-first spaces—establishing it as one of the most advanced professional services hubs in the Kingdom.

🔹 Why It Matters

The opening underscores Saudi Arabia’s growing appeal as a global business hub under the regional headquarters program, which offers tax exemptions, regulatory support, and incentives to multinational firms. More than 600 global companies, including Deloitte, IHG Hotels & Resorts, and Northern Trust, have already set up regional bases in Riyadh. For PwC, the investment aligns with Vision 2030 by combining innovation, infrastructure, and talent development to support the Kingdom’s transformation.

🔹 What’s Next

PwC plans to deepen its role in Saudi Arabia’s economic journey by expanding training and development initiatives. With over 2,600 employees in the Kingdom—56 percent of whom are Saudi nationals—the firm continues to prioritize Saudization and youth empowerment through programs like Hemam 2.0 and Foundation for the Future. PwC leaders say the headquarters will serve as a community hub for collaboration, innovation, and co-creation, further embedding the firm in the Kingdom’s long-term growth story.

👨‍💻From Smashi Business’ Desk

• Dreamers: Shakour Abu Ghazalah, once left with nothing after a bank collapse, turned resilience into Albaik—the Middle East’s fast-food giant.

• Saudi Arabia Unveils $1.8B Qiddiya Olympic Stadium to Anchor 2030 Sports Vision.

• Copycat Shut Down: “Salt London” Locked Out After Lease Forfeiture in Leicester Square.

🔍In other news…

• Dubai’s once-iconic Lamcy Plaza finally sold at auction for AED188.7 million

• A new YouTube Academy to open in Dubai to boost creator economy

• Etihad Airways flies over 2 million passengers in a month for the first time in its history

• Abu Dhabi real estate market sees 40% growth in first half of 2025

🏦 Crypto Corner

• Michael Saylor — Executive Chairman of MicroStrategy and one of Bitcoin’s most vocal corporate advocates — will make his first-ever appearance in the UAE at Bitcoin MENA in Abu Dhabi.

• Hut 8, part of a American BTC which is partially owned by Donald Trump Jr. and Eric Trump, Gets Approval to Operate in Dubai Financial Hub.

• Abu Dhabi Judicial Department now accept AE Coin.

We are launching a Smashi Crypto newsletter in September 2025! Subscribe to it here to get the weekly updates from the world of digital assets.

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