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- Uber Agrees to Acquire Delivery Hero for $14.8BN; Mohamed Alabbar Plans $20BN Syria Projects; US Approves Gulf Military Sales
Uber Agrees to Acquire Delivery Hero for $14.8BN; Mohamed Alabbar Plans $20BN Syria Projects; US Approves Gulf Military Sales
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Friday, July 17, 2026
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Consolidation of global tech platforms, major post-war real estate commitments, and strategic defense allocations are reshaping corporate and geopolitical lines across the Middle East. Uber Technologies has agreed to purchase Delivery Hero in a $14.8 billion transaction, absorbing leading regional brands like Talabat and Hungerstation. Simultaneously, Emaar founder Mohamed Alabbar has proposed a $20 billion housing and tourism plan in Syria, intending for local citizens to hold the majority stake in the developments. Meanwhile, the US State Department has authorized $2.44 billion in potential military sales to Saudi Arabia and Kuwait, supporting regional defense readiness amid active maritime and territory conflicts.
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Uber Buys Delivery Hero to Unify Global Food Delivery Logistics
What Is It About
The transaction marks a massive consolidation phase within the global app-based delivery market, moving away from hyper-localized competition toward massive global duopolies. By taking control of talabat and Hungerstation, Uber gains an immediate, dominant market share in the Gulf’s highly profitable, high-density metropolitan areas. Selling off overlapping European businesses to SSW Partners prevents regulators from blocking the transaction on anti-monopoly grounds, allowing Uber to focus entirely on fast-growing emerging markets.
Capturing Regional Logistics: Uber secures instant cash-flow control over the primary food delivery networks utilized by millions of daily users across the GCC.
Why It Matters
Dropping the shipping tax prevents a highly controversial tariff that would have increased global freight rates and fueled international trade tensions. Shifting the policy toward direct domestic capital investments keeps US industrial sectors funded while solidifying the security partnership between Washington and Gulf capitals. This compromise ensures that the costs of maintaining naval security in the Gulf are shared through private capital commitments rather than through direct taxes on global logistics operations.
Averting Supply Cost Hikes: Removing the proposed 20% tariff prevents immediate retail price inflation for energy and consumer commodities worldwide.
Anchoring Corporate Investments: The massive inflow of Gulf capital provides long-term liquidity directly to US manufacturing, aviation, and infrastructure markets.
What’s Next
Corporate executives expect to navigate extensive international regulatory evaluations before officially closing the transaction in the second half of 2027. In the meantime, local regional operations will continue running under their existing consumer brands without immediate change.
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Mohamed Alabbar Proposes Syria Reconstruction Developments Targeting Local Ownership
What Is It About
Dubai developer Mohamed Alabbar is planning to construct housing and tourism projects in Syria valued at $20 billion. The ambitious plan, backed by Abu Dhabi-based Eagle Hills as the anchor investor, features mixed-use developments in Damascus and beachfront resorts in the coastal city of Latakia. Alabbar stated he intends to establish a new corporate entity that ensures Syrian citizens hold a majority ownership stake in these upcoming properties.
Syrian Government Land Support: The local Damascus government is slated to provide the physical land plots as its equity contribution to the development.
Affordable Housing Allocations: The developer plans to contribute $5,000 to $10,000 from every premium home sale to fund lower-income housing initiatives.
Expanding Digital Frameworks: The plan coincides with Alabbar's Noon expanding local tech partnerships through Syrian venture builder Bidayah.
Why It Matters
The $20 billion proposal represents the most significant private-sector commitment to Syria's post-war reconstruction to date. Structuring the project to give local citizens majority ownership helps build local trust and economic buy-in, which is critical for long-term project safety. For UAE developers, rebuilding Syria offers a major new avenue for growth, while also supporting broader Gulf diplomatic efforts to bring Damascus back into the regional economic fold.
What’s Next
Alabbar expects physical construction work on the initial residential phases in Damascus to begin within the coming six to twelve months. Financial partners are working to finalize the remaining funding and security arrangements before moving heavy machinery to the coastal sites.
Finalizing Capital Structures: Investment syndicates will publish their final funding distributions and local ownership share rules next quarter.
Zoning Approvals Clearances: Engineering divisions will work with Syrian municipal authorities to secure final building permits for the Latakia resort sites.
United States Approves Multi-Billion Dollar Defense Sales to Saudi Arabia and Kuwait
What Is It About
The US State Department has approved proposed military equipment sales to Saudi Arabia and Kuwait to strengthen Gulf defense systems. The defense authorization clears a $1.96 billion package for Riyadh, focusing heavily on precision-guided air-to-air and air-to-ground missile support systems. Simultaneously, Kuwait received approval for a $484 million logistics package to support the operational readiness of its strategic military transport fleet.
Riyadh Precision Munitions: Saudi Arabia’s request includes up to 20,000 Advanced Precision Kill Weapon System (APKWS-II) guidance sections.
Kuwait Airlift Maintainence: The secondary authorization supplies spare parts, instruments, and laboratory accessories for Kuwait's active C-17 aircraft fleet.
Why It Matters
The multi-billion-dollar military sales demonstrate Washington's ongoing commitment to protecting its Gulf partners during active regional hostilities. Providing precision-guided weapons upgrades Saudi Arabia's defense capabilities, allowing its air force to intercept threats more effectively while reducing unintended damage. For Kuwait, maintaining its C-17 cargo fleet ensures it can continue assisting US and coalition transport operations across the globe.
What’s Next
The defense authorizations will move to the US Congress for final legislative review before manufacturers can begin production. Defense contractors will coordinate delivery schedules with the respective Gulf ministries over the coming months.
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Smashi Business Exclusive: Al Haboob Racing Founders On Turning Camel Racing Into A Global Franchise Model
Ahmed Al Haboob and Safwan Modir, founders of Al Haboob Racing, spoke on Smashi Business about building the world’s first professional camel racing team in Saudi Arabia. They explained how they are transforming a traditional, individual sport into a structured, franchise-style model inspired by Formula 1, with teams, sponsorships and long-term commercial value.
The founders discussed leaving corporate careers during the pandemic to pursue entrepreneurship in a “virgin” sports market, despite high operational risks tied to livestock performance. They also highlighted media ventures like their Netflix series Camel Quest, partnerships including Paul Pogba, and their vision to modernize the sport using data and technology.
👨💻From Smashi Business’ Desk
Dreamers: Meet Qatar’s Nasser Al-Khelaïfi, President and CEO of French Giants Paris Saint-Germain.
Dreamers: Meet Moutaz and Ramez Al Khayyat, Qatari Syrian billionaire brothers built one of the Middle East biggest private business empires after relocating to Qatar during the Syrian civil war.
Oil prices erased most of their early gains after the US and Iran agreed to pause attacks and resume talks over the Strait of Hormuz.
Tabby has apologised after mistakenly telling UAE customers they had won an Emirates flight voucher before later admitting the email "was sent in error."
Ben & Jerry Israel has launched what it calls its “most Israeli flavor ever.”
🔍In other news…
Hormuz Tensions Put Commodity Supplies at Risk Far Beyond Oil
US terror delisting opens Syria to Gulf investors
Emerging Assets Steady as Middle East Tensions Spur Caution
Neom giga-project rewrites pitch for ‘The Line’
Pakistan Seeks More LNG as Hostilities Constrain Qatar Supply
DP World in talks to build new UAE port to bypass Hormuz
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Three Dubai entrepreneurs have raised AED 10 million for DRBY, a startup seeking to modernise education payments across the UAE through a unified digital platform.
Dubai-based Algebra AI nets $7 million funding to serve mid-market
Moroccan Proptech Startup Agenz Raises $5M to Build Property Data Infrastructure and Transaction Tools Tailored for Local Market
Calo, Bahrain-based meal subscription platform, expanded operations and full suite of services to Oman
