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- Winter Games Postponed, Dubai Developer Shelves IPO, and Al Habtoor Supports Emirati Families
Winter Games Postponed, Dubai Developer Shelves IPO, and Al Habtoor Supports Emirati Families
Monday, January 26, 2026
Happy Monday everyone!
Across the Middle East’s business landscape, a mix of strategic recalibration, corporate confidence, and socially driven leadership is taking center stage. From Saudi Arabia adjusting timelines on one of its most ambitious global sporting projects, to a Dubai developer shelving IPO plans on the back of booming profits, and a billionaire businessman stepping in with a bold family-support initiative—these stories highlight how long-term vision, financial strength, and social responsibility are shaping the region’s economic narrative.
Saudi Arabia Delays 2029 Asian Winter Games at Neom
What’s it About?
Saudi Arabia has officially postponed the 2029 Asian Winter Games, originally set to take place at Trojena within Neom. The Saudi Olympic Committee and the Olympic Council of Asia agreed to delay the event, confirming that a new date will be announced in due course. Trojena, a $19 billion mountain resort, was poised to make history as the first Middle Eastern host of the winter competition.
Why it Matters?
While the postponement may raise questions around timelines, it does not signal a slowdown in Neom’s broader ambitions. Neom remains one of the Public Investment Fund’s six priority investment areas, with major projects advancing—including a green hydrogen plant nearing completion, an operational Neom Port, and Sindalah island entering operations. Investor confidence also remains strong, underscored by the PIF’s recent $2 billion bond sale in London, which was more than five times oversubscribed.
What’s Next?
Attention now shifts to the revised hosting timeline for the Games, alongside continued scrutiny of Neom’s execution pace. With large-scale infrastructure projects progressing and funding access intact, Saudi Arabia’s long-term investment strategy remains firmly on track.
Markets
EGX 30 | 46,857.73 | 0.85% |
DFMGI | 6,484.38 | Closed |
ADX | 10,285.77 | Closed |
Tadawul | 11,268.48 | 1.21% |
Binghatti Shelves IPO as Profits Surge
What’s it About?
Dubai-based Binghatti Holding has ruled out an initial public offering for now, citing a strong balance sheet and ample funding. Chairman Mohammed BinGhatti confirmed the company sees no immediate need to go public, despite earlier reports that it was exploring a potential listing.
Why it Matters?
Binghatti’s financial strength highlights the resilience of Dubai’s real estate sector. With more than AED10 billion held in escrow accounts, $1.5 billion raised through sukuk, and net profit surging 145% year-on-year to AED2.7 billion in the first nine months of 2025, the developer is expanding aggressively without relying on equity markets. Its growing portfolio—now valued at AED44 billion—signals continued confidence in Dubai’s housing demand.
What’s Next?
The company is deploying capital to acquire prime land across Palm Jumeirah, Downtown Dubai, and Al Jaddaf, while also exploring opportunities in Abu Dhabi and London. An IPO remains an option in the future, depending on market conditions, but growth for now will be fueled internally.
Al Habtoor Offers Dh50,000 Marriage Grant to Emirati Employees
What’s it About?
Dubai billionaire Khalaf Al Habtoor has announced a Dh50,000 marriage grant for UAE nationals working within Al Habtoor Group. The initiative doubles within two years upon the birth of a child, reinforcing his long-standing advocacy for family-building among Emiratis.
Why it Matters?
The move reflects growing private-sector participation in addressing demographic and social priorities. With Emiratis making up around 15% of the UAE’s population, the initiative aligns with broader government efforts to support marriage, reduce costs, and strengthen social cohesion. It also highlights how large employers are stepping beyond business to play a societal role.
What’s Next?
Al Habtoor has called for wider adoption of similar initiatives, urging both public and private entities to actively support Emirati youth. As demographic sustainability becomes a national focus, such employer-led programs could become a growing trend across the UAE’s corporate landscape.
🦄 World of Startups
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Mogo and Geidea Team Up to Transform Egypt’s SME Payment Landscape
Dubai Partners with du to Supercharge Emirati Talent in Tech Sectors
Qatar’s Snoonu Founder Al-Hajri to Lead International Markets at Jahez
AI Integration Gains Momentum in UAE as Firms Reap Early Rewards
Argentum AI Taps Saudi Golf Leader Majed Al Sorour for Global Expansion Drive
SIRBAI and EDGE Forge Strategic UAE Alliance to Elevate Drone Autonomy
👨💻From Smashi Business’ Desk
Mubadala CEO Khaldoon Al Mubarak Named Chair of WEF’s International Business Council in Davos
Israeli Journalist Sparks Controversy Claiming Role in Secret Alliance Ahead of ‘Tehran’ Season 3 Release
TikTok US Spinoff Finalized, Abu Dhabi’s MGX Joins as Key Investor
Ben & Jerry’s Board Crumbles as Parent Magnum Takes Control, Founders Warn Independence at Risk
Gymshark Co-Founder Lewis Morgan Turns $298K into $17.1M Backing BNPL Firm Sezzle
🔍In other news…
🗓️ Plan Your Events (Jan-Feb 2026)
UAE
21-27 January: Emirates Airline Festival of Literature, Dubai.
21-24 January: Acres Real Estate Exhibition, Expo Center, Sharjah.
26-30 January: Gulfood 2026, Dubai
31 January-February 1: Sharjah Entrepreneurship Festival (Media Partners)
3-5 February: The World Governments Summit, Dubai.
9-12 February: World Health Expo (WHX), Dubai.
11-12 February: STEP Dubai Conference, Dubai Internet City. (Media Partners)
Saudi Arabia
28-30 January: Jeddah International Travel and Tourism Exhibition (JTTX), Jeddah.
2-4 February: Saudi Media Forum, Riyadh.
2-4 February: Women Leaders Summit and Awards KSA, Riyadh.
8-12 February: World Defense Show, Riyadh International Convention and Exhibition Center, Riyadh.
Egypt
5-7 February: RiseUp Summit, Cairo. (Media Partners)
11-12 February: Ai Everything Egypt (Organized by GITEX Global), Cairo. (Media Partners)
Qatar
1-4 February: Web Summit Qatar, Doha. (Media Partners)
2-5 February: 21st International Conference & Exhibition on Liquefied Natural Gas (LNG2026)
