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FIFA–Saudi $1bn Deal; OKHTEIN Pricing Uproar; Abu Dhabi Firm Wins Trump Tower Jeddah Build
Saturday, November 29, 2025
Happy Saturday everyone!
FIFA has signed a new partnership with the Saudi Fund for Development that could unlock up to $1 billion in global stadium loans, prioritising developing nations and deepening the organisation’s fast-strengthening ties with Saudi Arabia ahead of the 2034 Men’s World Cup. In Egypt, a Shark Tank episode sparked nationwide debate after OKHTEIN founders Aya and Mounaz Abdelraouf challenged the 19,000 EGP price of a hand-painted wearable art piece. Critics said the remarks reduced art to material cost, while judge and Mobica CEO Mohamed Farouk argued the coat was “underpriced” and worth at least 1,000 euros. Meanwhile, Dar Global has appointed Abu Dhabi–based Arabian Construction Company as the main contractor for the $531 million Trump Tower Jeddah, a 47-storey Corniche skyscraper that will include Saudi Arabia’s first Trump Club and is slated for completion in December 2029.
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 | 40,039.24 | 1.27% |
DFMGI | 5,815.24 | 0.11% |
ADX | 9,747.17 | 0.434% |
Tadawul | 10,640.65 | 0.05% |
FIFA Strikes $1 Billion Saudi Deal to Boost Global Stadium Infrastructure
What’s it About?
FIFA has signed a new partnership with the Saudi Fund for Development that could unlock up to $1 billion in loans to build and rehabilitate stadiums and sports infrastructure worldwide. The agreement prioritises financing for developing nations and aims to help countries meet the requirements needed to host FIFA-approved competitions. The move deepens FIFA’s growing ties with Saudi Arabia, which is set to host the 2034 Men’s World Cup and has rapidly expanded its footprint in global sport.
Why it Matters?
This deal cements Saudi Arabia as one of the most influential players in global football’s political and economic landscape. Beyond sports, it strengthens the kingdom’s soft-power strategy and aligns with its long-term Vision 2030 goals. For FIFA, the agreement provides access to large-scale financing at a time when many member associations lack the infrastructure to host international tournaments.
What’s Next?
Analysts expect the partnership to accelerate stadium development across Africa, Asia, and Latin America. The MoU may also pave the way for broader Saudi involvement in global football governance and additional commercial tie-ups.
OKHTEIN Sparks Backlash in Egypt After Challenging Artist’s 19,000 EGP Pricing on Shark Tank
What’s it About?
A Shark Tank Egypt episode ignited nationwide debate after OKHTEIN founders Aya and Mounaz Abdelraouf questioned the 19,000 EGP price of a hand-painted wearable art piece by artist Somaia Abolezz. Viewers said the critique reduced art to material cost. Judge and Mobica CEO Mohamed Farouk disagreed, insisting the coat was “underpriced” and worth at least 1,000 euros.
Why it Matters?
The clash exposed long-standing tensions in Egypt’s creative economy: how independent artists price their work, how luxury brands justify their premiums, and who gets to define artistic value. Critics accused OKHTEIN of a double standard, noting the brand itself sells high-priced, handcrafted accessories celebrated internationally.
What’s Next?
The incident has revived discussions around fair valuation, craftsmanship and support for emerging creators. At the same time, many Egyptians pointed to OKHTEIN’s own rise — founded in 2014 with just $5,000 in a small workshop, later worn by Beyoncé and now housed in the Grand Egyptian Museum — as proof of how local talent can scale globally.
Abu Dhabi Contractor Wins $531 Million Deal to Build Trump Tower Jeddah
What’s it About?
Dar Global has appointed Abu Dhabi–based Arabian Construction Company as the main contractor for the $531 million Trump Tower Jeddah, a 47-storey waterfront skyscraper on the Jeddah Corniche. The tower, set to house Saudi Arabia’s first Trump Club, is scheduled for completion in December 2029. The contract follows initial enabling works and forms part of Dar Global’s broader Trump-branded expansion across key international markets.
Why it Matters?
The award marks another high-profile Gulf construction deal involving a U.S. brand as Saudi Arabia accelerates premium real estate development in Jeddah. It also highlights growing regional appetite for luxury mixed-use projects as the kingdom opens up to global investors. For Abu Dhabi’s Arabian Construction Company, this cements its role as a leading builder of regional landmark projects.
What’s Next?
The project is part of Dar Global’s wider one-million-square-metre Jeddah masterplan, which will also include the $1 billion Trump Plaza complex. Analysts expect more Trump-branded ventures in the region as Dar Global deepens its partnership. Arabian Construction Company, meanwhile, continues preparing for a potential IPO after securing a pipeline of mega-project wins.
🦄 World of Startups
Kingpin, a UAE-based startup, has raised $3.5M to accelerate the rollout of its AI-powered retail and distribution tools across GCC, Europe, and North America.
Secure.com (UAE) – Raised $4.5M from Disrupt.com and launched Digital Security Teammate, an AI-native cybersecurity agent platform.
Shatib (Saudi) – Secured $750K pre-seed from a strategic angel investor for its B2B group purchasing marketplace for construction materials.
SahmAlgo (Saudi) – Raised $1M seed led by Gharesah Investment to expand AI-driven financial analytics for traders and enterprises.
Takadao (Saudi) – Raised $1.5M seed from multiple investors to offer Sharia-compliant DeFi solutions via its community-owned LifeDAO.
FAST Ventures rolls out $3 million venture studio to back MENA startups.
bluworks lands $1 million seed investment to accelerate MENA expansion
