Happy Thursday everyone!

Abu Dhabi’s global investment reach is expanding across food, infrastructure, and clean energy. A recent investigation revealed that the Al Nahyan family has collected over €71 million in EU farming subsidies, supporting a portfolio that now controls roughly 960,000 hectares of land globally. In Damascus, Mohamed Alabbar announced plans to invest up to $18 billion in Syrian real estate and tourism, targeting coastal and urban developments as the country reopens to Gulf capital. Simultaneously, Mubadala is anchoring the UK’s energy transition with a $325 million stake in the Hornsea 3 offshore wind project, set to become the world’s largest single facility of its kind.

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

Al Nahyan Family Controls Largest Farm in the EU

What Is It About?

An investigation by The Guardian and DeSmog found that subsidiaries linked to the Al Nahyan family received more than €71 million in European Union agricultural subsidies between 2019 and 2024. These payments are tied to holdings in Romania, Spain, and Italy, including the 57,000-hectare Agricost farm—the largest in the EU. The expansion is managed through ADQ and Al Dahra, founded by HH Sheikh Hamdan bin Zayed Al Nahyan, as part of a push to secure long-term food supplies.

Why It Matters?

The scale of these holdings positions Abu Dhabi as one of the world's most significant cross-border agricultural investors. While the UAE frames this as a "100-year guarantee" for national food security, the report has sparked a debate in Brussels regarding transparency and the distribution of public funds to foreign state-linked entities. It highlights a shift where sovereign wealth is increasingly used to acquire physical assets in essential sectors like food and water.

What’s Next?

The European Commission is already discussing reforms for the 2028–2034 subsidy cycle, which may include a €100,000 annual cap on payments per farmer to prioritize smaller, local producers. Analysts will be watching to see if these policy shifts impact the profitability of large-scale industrial farms owned by foreign investors.

Mohamed Alabbar Plans $18 Billion Syrian Reconstruction Push

What Is It About?

Emaar founder Mohamed Alabbar has announced plans to invest as much as $18 billion across Syria following the fall of the former regime. During a business forum in Damascus attended by 120 Emirati officials, Alabbar detailed a pipeline including $7 billion for coastal projects in Latakia and $11 billion for residential and tourism developments in the capital. The projects aim to address a decade-long freeze on real estate expansion in the country.

Why It Matters?

Alabbar’s move signals that Syria is officially open for high-stakes Gulf capital after years of isolation. With the US and EU lifting major sanctions in 2025, the country is racing to reintegrate into the global financial system. This investment is not just about buildings; it is a bet on Syria's long-term stability and its potential to return to its peak of 8.5 million annual tourists.

What’s Next?

Construction could begin within six months as Alabbar works with local partners to finalize project blueprints. The next major hurdle will be the Syrian Central Bank’s pursuit of its first sovereign credit rating, which would allow the country to officially enter international capital markets and attract further institutional investors.

Mubadala Invests $325 Million in World’s Largest Wind Farm

What Is It About?

Mubadala Investment Company has joined a consortium led by Apollo to invest $325 million in the Hornsea 3 offshore wind project in the UK. Located off the Norfolk coast and developed by Orsted, the facility will have a capacity of 2.9 gigawatts, enough to power more than 3.3 million homes. Orsted will retain a 50% stake and maintain operational control of the site.

Why It Matters?

The investment deepens the UAE’s role in the global energy transition and reinforces its partnership with major US private equity firms like Apollo. For the UK, securing sovereign wealth from Abu Dhabi is critical to meeting its target of 50GW of offshore wind capacity by 2030. It shows that even as Abu Dhabi expands its oil and gas reach, it is simultaneously betting heavily on the infrastructure required for a net-zero future.

What’s Next?

Hornsea 3 is expected to become fully operational by 2028. Investors are watching for further "gigawatt-scale" announcements from Mubadala’s infrastructure arm, which has been aggressively scaling its portfolio in EMEA and North America to meet the rising electricity demand driven by transport and digital infrastructure.

👨‍💻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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