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- Eagle Hills Plans $12B Maldives Island Project; QIA and JPMorgan Sign $20B Partnership; Dubai Content Market Returns
Eagle Hills Plans $12B Maldives Island Project; QIA and JPMorgan Sign $20B Partnership; Dubai Content Market Returns
AI, tech, startup and business stories from the Arab world. For the driven, the dreamers and the doers
Tuesday, September 21, 2026
Happy Tuesday everyone!
Cross-border real estate expansions, sovereign wealth partnerships, and regional media gatherings mark major business updates across the Middle East. Abu Dhabi developer Eagle Hills signed an agreement for a $12 billion mixed-use development spanning 5.2 million square meters in the Maldives. In asset management, the Qatar Investment Authority (QIA) signed a $20 billion strategic partnership with JPMorgan Asset Management covering public equities and US private credit. Meanwhile, media executives are preparing to gather at Madinat Jumeirah for the Dubai International Content Market (DICM) 2026 on 10–11 November.
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Eagle Hills Plans $12B Mixed-Use Island Development in the Maldives
🔹 What Is It About
Abu Dhabi-based Eagle Hills, led by Mohammed Alabbar, signed an agreement with the Maldives government to build a $12 billion mixed-use waterfront project near capital Male. Spanning a 5.2 million square meter island, the development will include thousands of homes, international resorts, retail hubs, medical clinics, schools, and a marina. Emaar Properties PJSC may also participate in the project, which will offer 99-year leasehold properties to buyers from the Gulf, Europe, and India.
Structuring $12B Outlay: Eagle Hills signed primary commercial terms for a broad island master plan.
Offering 99-Year Leases: Properties will be sold under a Maldivian leasehold framework lasting up to 99 years.
Generating Direct Employment: The project expects to create 40,000 total jobs, including 15,000 permanent positions.
🔹 Why It Matters
Expanding into the Indian Ocean allows UAE developers to deploy accumulated cash reserves into international growth markets. Diversifying projects internationally helps firms manage local real estate demand shifts following regional geopolitical developments. For the Maldives, securing major foreign direct investment expands its tourism-driven economy while building modern residential and civil infrastructure.
🔹 What’s Next
Eagle Hills and Maldivian authorities will finalize detailed development agreements and environmental monitoring protocols for the reclaimed site. Sales divisions will prepare long-term leasehold offerings for international buyers as construction phases begin.
Finalizing Binding Terms: Legal teams will draft full commercial contracts following the initial terms agreement.
Launching Buyer Sales: Marketing divisions will open international pre-sales under Maldivian leasehold regulations.
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QIA and JPMorgan Form $20B Strategic Investment Partnership
🔹 What Is It About
The Qatar Investment Authority (QIA) signed a memorandum of understanding establishing a $20 billion strategic partnership with JPMorgan Asset Management. Led by QIA CEO Mohammed Saif Al-Sowaidi and JPMorgan Asset Management CEO Mary Callahan Erdoes, the collaboration allocates $15 billion toward global public equities and $5 billion toward private credit for US middle-market companies across industrials, healthcare, and technology.
Allocating Public Equities: JPMorgan will manage $15 billion in customized global equity portfolios for QIA.
Funding Private Credit: The partnership directs $5 billion to senior financing for established US middle-market firms.
Deepening Wall Street Ties: The agreement follows QIA's past institutional commitments with Goldman Sachs and Blue Owl.
🔹 Why It Matters
Partnering with major asset managers helps Qatar deploy capital across liquid public equities and private credit markets. Targeting US middle-market companies provides steady yield opportunities while diversifying the $580 billion sovereign fund's international assets. Establishing long-term management mandates re-establishes QIA's big-ticket dealmaking strategy alongside global financial institutions.
🔹 What’s Next
JPMorgan Asset Management teams will assemble customized global equity portfolios and begin deploying senior credit capital. QIA executive leads will also advance domestic portfolio initiatives alongside planned regional infrastructure grants.
Content, Connections, Deals: DICM 2026 Opens Registration
The Dubai International Content Market (DICM) returns to the iconic Madinat Jumeirah on 10–11 November 2026, bringing together the region's largest gathering of content and entertainment professionals. Named the Best Annual Media Industry Event in MENA, DICM is the go-to marketplace for buying, selling, co-producing and distributing content across TV, film, streaming and digital platforms.
Expect 100+ exhibiting companies, over 1,000 media executives from 55+ countries, and access to the Content Business Hub — DICM's matchmaking platform that lets buyers and sellers pre-schedule meetings up to six weeks before doors open. Whether you're scouting new IP, seeking co-production partners, or expanding into the fast-growing Middle East and Africa markets, DICM delivers the connections and deal-flow to make it happen.
Registration is now open. Secure your spot at one of MENA's pivotal media industry events.
👨💻From Smashi Business’ Desk
Dubai based The Giving Movement CEO Rania Masri El Khatib has spoken out after Macklemore was removed from Ed Sheeran’s US tour following his support for Palestine.
The Glazer family, Manchester United's majority owners, are reportedly among the parties circling a potential takeover of Saudi giants Al-Ittihad.
A reported five-man consortium lead by Cristiano Ronaldo is pushing a joint bid to buy Al-Nassr from PIF, with a $100M minimum buy-in per partner.
The Israeli Air Force has used Apple’s newly unveiled iPhone Duo in an Instagram post featuring Israeli soldiers in Gaza, with the images displayed across the foldable phone under the headline “This is Duo”
🔍In other news…
Serbia opens Israeli drone assembly plant
PwC announces fall in revenue for first time in two decades due to Middle East business loss
Abu Dhabi Wealth Fund L’imad Eyes Stake in Apollo’s Atlas Air Cargo Unit
Abu Dhabi Pins Hopes on F1 and Events Calendar to Reverse a 14.2% Drop in Hotel Guests
Mubadala Capital leads as AI infrastructure provider Crusoe raises $3.9 billion.
Etihad named official airline of UAE Wrestling Federation
🦄 World of Startups
Tabby, Saudi-based BNPL, raised $233M in a Series F equity round at a $6.5B valuation.
OCTA, USA-based accounting platform, raised $3.5M in a seed funding round led by Middle East Venture Partners (MEVP) and joined by Wa'ed Ventures, Plug and Play, and A-typical Ventures, Sukna Ventures and Sadu Capital.
Rize, Saudi-based residential rental platform, secured a $50M (SAR 187.5M) asset-backed Murabaha facility from Jadwa Investment.
Bekia, Egypt-based recycling technology startup, raised $765K in a seed funding round led by Madica, joined by Catalyst Fund and Jambaar Capital.
Lendo, Saudi-based Shariah-compliant debt crowdfunding marketplace, secured a commitment of up to $200M (SAR 750M) from Quantic Financial Solutions GmbH, Austria-based asset management fund.
Saudi Arabian building materials platform BRKZ has secured $31 million in new funding.
Saudi digital payments company Barq has raised $329.5 million in a Series A round, valuing the fintech at $1.85 billion.
