Happy Wednesday everyone!

Economic reintegration and digital media expansion are driving regional activity as Dr. Thani Al Zeyoudi led a high-level Emirati delegation to Damascus for the first bilateral business forum since the removal of US sanctions. In Riyadh, SRMG announced it will increase its stake in digital platform Thmanyah to 75%, committing up to SAR 200 million in financing to scale a business that already draws 2.2 million monthly followers. Meanwhile, Abu Dhabi’s property market is hitting new milestones, with Metropolitan Capital Real Estate CEO Evgeny Ratskevich highlighting that projects like the Manchester City Yas Residences generated AED 6 billion in reservations in just 72 hours.

In the wake of developments in the region, we hope everyone stays safe. At this critical moment, it is essential to remain united and follow guidance issued by official authorities from your country.

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Markets

UAE and Syria Rebuild Economic Ties in Damascus

What Is It About?

The UAE and Syria held their first joint business forum in Damascus since the fall of the previous government. A delegation of Emirati officials and business leaders arrived to discuss rebuilding the country’s infrastructure. This follows the removal of US and EU sanctions in 2025. Major moves are already happening, with DP World signing a 30-year contract to run the port of Tartous and Dana Gas eyeing gasfield redevelopment near Homs.

Why It Matters?

Syria is moving fast to rejoin the global financial system. The return of Visa and Mastercard processing and the pursuit of a sovereign credit rating suggest that the country is ready for international investment. For the UAE, being an early mover provides a foothold in a market that has been closed for 15 years. These projects across ports and energy are the first steps in reviving a stalled economy.

What’s Next?

President Ahmad Al Shara is expected to attend the forum this Tuesday. Investors will be watching for more formal agreements and the first signs of how Syria’s new investment laws work in practice. The successful start of DP World’s $800 million modernization project will be a key indicator of stability.

SRMG Moves to Acquire 75% of Digital Platform Thmanyah

What Is It About?

Saudi Research and Media Group (SRMG) is increasing its ownership in the digital media company Thmanyah from 51% to 75%. Through its subsidiary, Arab Media Company, it will inject SAR 52.36 million into the platform and provide up to SAR 200 million in financing over the next four years. Thmanyah has grown from a podcast network into a content business with 2.2 million monthly followers and exclusive sports broadcasting rights.

Why It Matters?

This investment shows that SRMG is serious about moving away from traditional print and toward a digital-first model. Thmanyah has successfully built a massive audience through documentaries and podcasts like Fnjan. By securing a larger stake, SRMG is betting that high-quality Arabic digital content is where future advertising and subscription revenue will grow.

What’s Next?

The financing will support more documentaries and a deeper push into live sports media. Market watchers will look for the financial impact to show up in SRMG's reports by the second half of 2026 as the platform expands its reach across the region.

Abu Dhabi’s Real Estate Story Is Shifting From Stability to Scale: Metropolitan Capital CEO Evgeny Ratskevich

Evgeny Ratskevich, CEO of Metropolitan Capital Real Estate, told Smashi Business in an interview that Abu Dhabi’s property market is no longer being defined only by safety and family appeal. He argued that the emirate has now reached a new level of global investor confidence, supported by strong fundamentals, institutional interest and major residential launches that are drawing attention far beyond the UAE.

He pointed to the recent performance of Ohana’s Manchester City Yas Residences, which generated AED 6 billion in reservations in 72 hours, as proof that the market is responding to the right combination of brand, location and pricing.

What drove the record sales

Ratskevich said the headline numbers did not happen by chance. In his view, the best results come when a strong brand, a strategically located project and pricing with upside all align at the same time. He added that the market had been waiting for exactly this type of product, and that brokers, developers and buyers were all ready for it

For Metropolitan Capital Real Estate, the launch also delivered AED 450 million in reservations, with buyers split across UAE nationals, residents and international investors. That mix, he said, shows Abu Dhabi’s broadening appeal.

Why ready homes are gaining traction

The CEO also highlighted Leaf Tower on Al Reem Island as a sign of changing buyer preferences. While off-plan remains dominant in Abu Dhabi, he said move-in-ready homes are increasingly appealing to end users who want immediate occupancy and stable rental income.

Ratskevich described decent rental yields as a sign of a healthy market and suggested that more buyers are now looking for verified cash flow rather than speculative gains. In his view, this marks a more mature phase for Abu Dhabi real estate.

Confidence, resilience and outlook

On the macro side, Ratskevich said major international investment frameworks and expanding global ties are reinforcing confidence in the UAE’s long-term direction, even if they do not directly affect retail buyers. He added that the company stayed operationally prepared through recent regional volatility, keeping its team size steady and maintaining a flexible budgeting approach.

Looking ahead, he said Leaf Tower is on track to sell out by year-end, while demand for Manchester City Yas Residences remains strong. For him, the message is clear: Abu Dhabi’s real estate story is evolving from defensive stability into sustained growth.

👨‍💻From Smashi Business’ Desk

• Exclusive: Bezos’ $38 Billion “Project Prometheus” AI Play, Which Has a Quiet Gulf Angle

• The Gulf box office is telling a bigger story than just the strong debut of Michael.

• Saudi Arabia’s first Hollywood-scale blockbuster Desert Warrior has opened modestly at the US box office.

• Despite a market cap of just $15.7 million — well below Nasdaq’s $35 million threshold — Swvl Holdings Corp is not on the brink of delisting.

• UK universities under fire after reports of £440k spent spying on pro-Palestine student activity⁠

🔍In other news…

• Saudi Wealth Fund to Sell First Dollar Bonds Since Iran War

• Profit at Abu Dhabi’s IHC nearly doubles to cross $2bn

• French Container Ship Makes Rare Crossing of Strait of Hormuz

• Parkin, the Dubai government’s parking management company, reported high-double-digit growth in net profit and revenue for the first quarter of 2026

• PIF consolidates China presence with second office

• Saudi Airline Faces Difficult Launch as Iran War Upends Travel

• Conflict pushes Omani-Saudi border trade to record levels

• QatarEnergy extends force majeure on Italy’s Edison

• Reuters Exclusive: UAE slips hidden oil tankers through Strait of Hormuz

🦄 World of Startups

• Dubai gifting marketplace Udora secures $10M

• Saudi fashion platform Aya secures $7m to scale real time production

• Jordan-based Tamatem has acquired Istanbul-founded Playable Factory, strengthening its push into performance marketing and user acquisition.

• Egypt’s Lucky Raises USD 23M Series B. Its Consumer Credit Model is Expanding Into North Africa

• “We Got Funded!” Maison Safqa Raises US$620,000 in Pre-Seed Funding to Expand Luxury Flash-Sale Platform Across GCC

• Via Separations, US-based deeptech startup, raised $36M in funding from Aramco Ventures (Saudi), and other global investors.

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