Author: Arabian Media staff
Image: Dubai Media office ALEC Holdings, the Dubai-based engineering and construction group based in Dubai, made a strong debut on the Dubai Financial Market (DFM) on Wednesday following the UAE’s largest-ever initial public offering (IPO) in the construction sector by valuation and size, and the first in more than 15 years. The company raised Dhs1.4bn ($381m) through the sale of one billion existing shares by its sole shareholder, the Investment Corporation of Dubai (ICD), representing 20 per cenr of ALEC’s share capital. ICD retains an 80 per cent stake following the listing. The IPO, priced at Dhs1.40 per share, valued…
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Image: IHC/ X IHC, a global investment company focused on building dynamic value networks, announced plans to merge its flagship portfolio companies 2PointZero, Multiply Group, and Ghitha Holding into a single investment powerhouse valued at approximately Dhs120bn, creating one of Abu Dhabi’s largest listed investment entities. The combined company will be renamed 2PointZero Group and remain listed on the Abu Dhabi Securities Exchange (ADX), uniting diversified platforms across sectors essential to future global growth. The move is aimed at accelerating global competitiveness, operational efficiency, and long-term shareholder value. The merged entity will focus on the energy and consumer sectors, leveraging…
Image: Getty Images/ For illustrative purposes Dubizzle Group, the leading digital classifieds marketplace in the MENA region, has announced its intention to proceed with an initial public offering (IPO) and list its ordinary shares on the Dubai Financial Market (DFM). Through its popular platforms dubizzle and Bayut, the company connects individual and business sellers with prospective buyers across multiple verticals, particularly real estate and automotive. According to a statement by the Dubai-based company, the IPO will comprise approximately 30.34 per cent of the company’s total issued share capital, including 196,114,887 new shares and 1,053,411,504 existing shares sold by current shareholders.…
Images: Supplied Luxury real estate developer Sobha Realty has unveiled Sobha SkyParks, its tallest project to date, located on Dubai’s Sheikh Zayed Road. Rising 109 floors and approximately 450 metres, the development ranks among the top five tallest buildings in the UAE and comprises 684 residences. Sobha SkyParks reflects the company’s “The Art of Detail” philosophy, featuring a straight-line tower structure divided into five slender sub-towers. Minimalist glass façades and inset balconies create a vertical elegance, offering panoramic views of Sheikh Zayed Road, the Palm Jumeirah, and the Arabian Gulf. The project emphasises vertical urbanisation, integrating lifestyle, leisure, and community…
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Image: Supplied Talabat Holding, the on-demand online ordering and delivery platform in the Middle East and North Africa, announced that CEO Tomaso Rodriguez will step down after six years in the role as part of a planned leadership transition. Rodriguez will be succeeded by Toon Gyssels, who returns to the company and will formally assume the position of CEO on November 21. The transition reflects talabat’s focus on maintaining sustained growth and leadership while preparing for the next phase of innovation in the delivery sector. Rodriguez will continue to support the company as a member of the talabat board, focusing…
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