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Talabat Revenues Jump; Dubai Needs 150 Home Built Daily; Developer Samana Eyes Sukuk
Tuesday, November 11, 2025
Happy Tuesday everyone!
Dubai’s population surge is reshaping the property market, with experts telling The National that nearly 150 new homes are needed each day to keep pace with 470 daily new residents. High-density apartment projects dominate new launches, while family-oriented villas and townhouses remain scarce, driving prices and rents higher. Meanwhile, companies like Talabat report strong revenue growth despite stock volatility, and Samana Developers prepares a $300 million sukuk and potential IPO amid the emirate’s ongoing property boom.
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Markets
EGX 30 | 40,495.54 | 0.80% |
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Tadawul | 11,243.80 | 0.00% |
Talabat Revenue Jumps 31% In Q3 2025 Despite Stock Slump
What It’s About?
Dubai-listed Talabat reported a 31% rise in Q3 2025 revenue to $1 billion, driven by higher user numbers and order frequency across the UAE, Kuwait, Qatar, Bahrain, Oman, Egypt, Jordan, and Iraq. Food orders grew 20%, while grocery and retail surged 40%. Gross merchandise value climbed 26% to $2.4 billion, and net profit reached $119 million, aided by higher finance income despite new 15% GCC corporate taxes.
Why It Matters?
Talabat’s growth highlights strong demand for online food and grocery delivery in the Middle East, with over a quarter of monthly active users subscribing to Talabat Pro, contributing nearly half of total gross merchandise value. The company now serves 80,000 partners with a fleet of 160,000 riders, signaling continued market dominance despite stock volatility.
What’s Next?
CEO Tomaso Rodriguez will hand over to Toon Gyssels on November 21. Talabat’s shares have dropped more than 43% since its DFM debut in December 2024, though IPO funds helped strengthen operations. The firm will likely continue expanding its digital delivery footprint and leveraging Talabat Pro to boost customer engagement.
Dubai’s Boldest Entrepreneurs Go Head-to-Head on ‘The Final Pitch’
Dubai becomes the global stage for ambition as the groundbreaking business-reality series ‘The Final Pitch – Dubai’ launches on 17 November, exclusively on OSN TV and OSN+. Hosted by creator and CEO John Aguilar, the show features a star‐investor panel: Sami Khoreibi (Incubayt Investments) and Jigar Sagar (Triliv Holdings). Sixteen visionary founders — from wellness and AI to fintech and sustainability — will pitch their ventures, gain mentorship and vie for real investment opportunities.
Dubai’s Soaring Population Spurs Demand for 150 New Homes Daily, But Supply Lags
What It’s About?
Dubai’s rapid population growth is creating a critical housing supply gap, with experts telling The National that the city needs nearly 150 new homes each day to keep pace with rising demand. The emirate’s population reached 4.03 million in October 2025, up 4.47% year-on-year, averaging 470 new residents daily, driven by long-term visa reforms and strong inbound employment, according to Springfield Properties.
Why It Matters?
Developers are struggling to meet demand, with only about 44,000 units expected for delivery in 2025, mostly apartments. Villas and town houses remain limited, creating a widening imbalance, market leaders told The National. In 2025, 89% of new launches are apartments, leaving family-oriented housing scarce, while high-density projects dominate areas like Jumeirah Village Circle, Townsquare, and Arjan.
What’s Next?
The supply-demand mismatch is driving prices up for larger homes. Villa prices in key communities rose up to 11% in 2025, now 66% above 2014 levels, while villas and town houses generate 58% of total rental value despite representing only 33% of rental transactions. Experts say the trend is creating a “two-tier market,” with apartments serving short-term population growth and villas catering to premium long-term residents.
Dubai’s Samana Developers Eyes $300M Sukuk And IPO Amid Surging Property Market
What It’s About?
Dubai’s Samana Developers plans to issue its first sukuk, targeting around $300 million by Q1 next year, to acquire prime and waterfront land for ultra-luxury homes. The developer, working with Emirates NBD, Dubai Islamic Bank, and Standard Chartered, follows peers like Binghatti, Omniyat, and Damac in tapping Islamic debt markets amid a property boom that has lifted prices over 70% since 2019.
Why It Matters?
Samana’s sales are on track to reach 7.1 billion dirhams this year, up from 5.1 billion in 2024, fueled by European and regional buyers. The move reflects Dubai’s thriving real estate market, where developers are leveraging high liquidity and investor appetite to expand, signaling continued confidence in the emirate’s property sector.
What’s Next?
Samana is seeking approvals to build 1,100 apartments on The World Islands and is exploring a Dubai stock exchange listing, potentially offering 15–25% of its shares by end-2026. The developer’s strategy mirrors a growing trend of UAE firms using sukuk, IPOs, and private credit to fund expansion in a competitive luxury property market.
🦄 World of Startups
Zid, Saudi e-commerce enablement platform, expands into Egypt through a partnership with digital store provider Zammit.
Bahrain launches $185mln fund to support SMEs
Deplike, Turkey-based AI music learning platform, raised undisclosed seed funding from 216 Capital to grow its Chordie AI app with 250K active users.
Chari, Morocco-based fintech and e-commerce platform, raised undisclosed Series A extension funding from Egypt’s DisrupTech Ventures to expand its embedded financial services for retailers.
Arab Therapy, Jordan-based online mental health platform, secured a strategic investment from Value Makers Studio (VMS) to grow its licensed telemedicine and corporate wellness services.
First Circle Capital, a female-led VC in Uganda and Morocco, raised $6M from IFC for its $25M pan-African fintech fund targeting pre-seed and seed-stage startups in fintech, insurtech, and climate tech.
👨💻From Smashi Business’ Desk
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Saudi delivery app Shgardi has shut down after five years in operation — a sign of how fierce the Kingdom’s delivery wars have become.
🔍In other news…
UAE’s Shaikha Al-Nowais becomes first female UNWTO Secretary-General
Dubai's economy expands by 4.4% in first half of 2025
Shares in Adia-backed Lenskart fall on debut
After luxury push, Saudi Arabia targets broader tourist market, minister says
Dubai shisha maker AIR agrees to Nasdaq listing
Abu Dhabi Airports to build over 10 vertiports for air taxis, eVTOLs by 2026
Work accelerates on Dubai Metro Blue Line
