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EFG Hermes advises on $190m investment in Alameda Healthcare

The investment was led by Development Partners International (DPI) in partnership with a consortium of institutional investors and development finance institutions

Gulf Business
Gulf Business

09 July, 2025

EFG Hermes advises on $190m investment in Alameda Healthcare
Image credit: Suppled photo

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EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa, announced it has acted as the Sole M&A Financial Advisor on a landmark $190m minority stake investment in Alameda Healthcare, one of Egypt’s top private healthcare providers.

Read- EFG Holding posts resilient Q1 ’25 results despite FX impact

The investment was led by Development Partners International (DPI) in partnership with a consortium of institutional investors and development finance institutions. Following the transaction, Dr Fahad Khater, Chairman of Alameda, will remain the majority shareholder. The deal, primarily structured as a capital increase, is pending regulatory approvals and is expected to close in Q3 2025.

This marks the largest foreign direct investment in Egypt’s healthcare sector to date, reinforcing investor confidence in Egypt’s high-growth, resilient industries. The transaction will inject foreign currency into Egypt’s banking system and support Alameda’s expansion both locally and in the GCC markets.

Strategic expansion supported by capital injection

“This is a proud moment for EFG Hermes as we continue to deliver on our promise to guide clients through transformational transactions,” said Maged El Ayouti, Co-Head of Investment Banking at EFG Hermes.

“Securing a $190m investment for one of the region’s fastest-growing healthcare platforms reflects our strong advisory capabilities and deep market expertise.”

Alameda, under Dr Khater’s leadership, plans to use the proceeds to scale its hospital operations and increase clinical capacity. The funding will support expansion in Egypt, Saudi Arabia, the UAE, and other GCC countries, bolstering its position as a regional healthcare leader.

El Ayouti added that the firm’s advisory role in this transaction is part of a broader track record of M&A excellence. Over the past 18 months, EFG Hermes has advised on M&A deals worth more than $2.5bn. Since the start of 2025, the investment bank has closed four M&A transactions, along with seven DCM and seven ECM deals across Egypt, the UAE, Saudi Arabia, and Oman.

The investment represents a key milestone in both Alameda’s growth journey and EFG Hermes’s continued dominance in regional capital markets.

New leadership appointed to key real estate sectors at Dubai Land Department

Both appointments are effective immediately from the date of issuance

Gulf Business
Gulf Business

09 July, 2025

New leadership appointed to key real estate sectors at Dubai Land Department
Image: Dubai Media Office

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According to a statement issued by the Dubai Media Office, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence, in his capacity as Chairman of The Executive Council of Dubai, has issued two new executive resolutions concerning senior appointments at the Dubai Land Department.

Under Executive Council Resolution No. (48) of 2025, Majid Saqr Abdullah Al Marri has been appointed as the CEO of the Real Estate Registration Sector.

Read: Dubai Land Department-RTA partnership

In a parallel move, Executive Council Resolution No. (49) of 2025 names Majida Ali Rashid as the CEO of the Real Estate Development Sector.

Both appointments are effective immediately from the date of issuance and will be published in the Official Gazette.

Emirates launches A350 flights to Dammam, its first in Saudi Arabia

The launch reflects Emirates’ ongoing investment in the Saudi market, where it has operated for over 30 years

Gulf Business
Gulf Business

09 July, 2025

Emirates launches A350 flights to Dammam, its first in Saudi Arabia
Image: Dubai Media Office

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Emirates has begun regular Airbus A350 operations to Dammam, marking the airline’s first destination in Saudi Arabia served by its latest-generation aircraft.

The daily A350 flight, EK 827, departs Dubai at 7:30 am and arrives in Dammam at 7:50 am. The return leg, EK 828, leaves Dammam at 9:20 am and lands back in Dubai at 11:45 am.

Configured in three classes, the Emirates A350 offers 312 seats – 32 in Business Class with lie-flat seats in a 1-2-1 layout, 21 in Premium Economy, and 259 in Economy. The aircraft has been designed for enhanced comfort on short- and medium-haul routes, featuring wider cabins, higher ceilings, quieter cabins, ergonomic seating, high-speed Wi-Fi, and Emirates’ award-winning ice entertainment system.

Read: Bahrain becomes first Emirates destination exclusively served by Airbus A350

The launch reflects Emirates’ ongoing investment in the Saudi market, where it has operated for over 30 years. The airline currently flies to four key cities in the Kingdom – Riyadh, Jeddah, Medina, and Dammam – offering multiple daily services using a mix of A380, Boeing 777, and A350 aircraft. These routes provide seamless connections via Dubai to over 140 destinations worldwide.

With Dammam joining the growing list of A350 destinations – including Mumbai, Edinburgh, Bahrain, Colombo, and Amman – Emirates has now inducted eight A350s into its fleet, with plans to serve 17 cities with the aircraft by the end of 2025.

Saudi’s property ownership law for foreigners: What you need to know about it

The new property law is part of a broader strategy to stimulate economic growth while maintaining social and market balance

Nida Sohail
Nida Sohail

09 July, 2025

Saudi’s property ownership law for foreigners: What you need to know about it
Image credit: Getty Images

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The Saudi Cabinet, chaired by Crown Prince and Prime Minister Mohammed bin Salman, approved a new law regulating property ownership by non-Saudis during its weekly session on July 8. The landmark legislation is set to take effect in January 2026, marking a significant step in the country’s efforts to attract foreign investment and diversify its economy.

Read-Saudi Arabia opens doors to foreign investors in real estate

The meeting began with the Crown Prince briefing cabinet members on his recent diplomatic engagements, including discussions with Indonesian President Prabowo Subianto and a phone call with German Chancellor Friedrich Merz. The cabinet praised the outcomes of the inaugural Saudi-Indonesian Supreme Coordination Council meeting, emphasizing strong bilateral relations and several signed agreements between private-sector players in both nations, a Saudi Gazette report said.

The agreements span key sectors such as clean energy, petrochemicals, and aviation fuel services, aligning with the shared ambition to build an advanced economic partnership.

New law aims to boost investment, ensure market balance

Acting Minister of Media Dr Essam bin Saeed confirmed the Cabinet’s decision in a statement to the Saudi Press Agency (SPA), highlighting that the new property law is part of a broader strategy to stimulate economic growth while maintaining social and market balance.

Saudi Minister of Municipal and Rural Affairs and Housing, Majed Al Hogail, also Chairman of the Board of Directors of the Real Estate General Authority, praised the leadership for approving the updated legislation. He noted that it is an extension of ongoing reforms aimed at developing the real estate sector and attracting foreign direct investment.

“This law will help increase real estate supply by bringing in international investors and developers,” Al Hogail said. “At the same time, it ensures market stability through controlled procedures and geographic restrictions.”

The law outlines that property ownership for non-Saudis will be allowed in specific geographic areas, including Riyadh and Jeddah, while ownership in Makkah and Madinah will be subject to special conditions. These measures are designed to balance openness to investment with national and cultural considerations.

Executive regulations, public consultation expected soon

Under the law, the Real Estate General Authority is tasked with proposing the zones where non-Saudis may own property or acquire property rights. The executive regulations will be published on the Istitaa public consultation platform within 180 days of the law’s publication in the official Umm Al Qura Gazette. The public will be invited to offer feedback and suggestions.

These regulations will define the procedures for acquiring property, compliance mechanisms, and enforcement protocols. They will also detail how the law aligns with other statutes, including the Premium Residency Law and GCC agreements that govern real estate ownership for citizens of Gulf Cooperation Council states.

The law explicitly integrates with existing frameworks that grant foreigners privileges to own property in Saudi Arabia, ensuring harmony across legal and regulatory platforms.

Saudi highlights commitment to economic cooperation

During the session, the cabinet reviewed Saudi Arabia’s ongoing contributions to global economic growth, reaffirming its commitment to multilateral cooperation and market stability. This includes continued coordination with OPEC+ oil producers to support petroleum market balance.

The cabinet also welcomed Riyadh’s selection as the host city for the 21st General Conference of the United Nations Industrial Development Organization (UNIDO), scheduled for November. The event will bring together global stakeholders to address challenges in sustainable manufacturing, technological innovation, and industrial transformation.

Digital safety, cybersecurity, and technology achievements recognised

In other developments, the cabinet applauded the UN Human Rights Council’s unanimous adoption of a Saudi-led resolution on protecting children in the digital space. The initiative stems from the “Child Online Safety” campaign spearheaded by Crown Prince Mohammed bin Salman and reflects Saudi Arabia’s growing leadership in cyber safety.

The cabinet also celebrated the country’s continued recognition in global cybersecurity, citing its top ranking in the 2025 World Competitiveness Yearbook. These achievements underscore Saudi Arabia’s rapid digital transformation and efforts to localise technology, expand international partnerships, and strengthen digital infrastructure.

Dr Essam noted that the country’s first-place ranking in the 2025 International Telecommunication Union (ITU) ICT Development Index further reflects a thriving digital economy now valued at SAR495bn. The index ranks countries based on digital inclusion, infrastructure, and innovation.

Additional cabinet decisions: Transport, health, and social development

The cabinet approved several other key measures during the session, including:

  • The updated National Transport and Logistics Strategy, supporting infrastructure expansion and trade facilitation.
  • Approval of the organisational structure for the General Authority for Irrigation.
  • Adoption of World Drowning Prevention Day, to be observed annually on July 25, as part of global public health awareness efforts.

To support financially vulnerable citizens, the cabinet approved a directive for the Social Development Bank to launch a guarantee program. The initiative will enhance access to credit and financing for underserved groups, enabling economic participation and social mobility.

Crackdown on narcotics trafficking

Cabinet members also praised the recent progress in combating drug trafficking, citing successful operations targeting organised crime networks involved in narcotics distribution. These efforts are part of broader campaigns to enhance public health and safety across the country.

Wellness isn’t what it used to be – and that’s a good thing. Here’s why

Wellness has gone digital and consumers don’t just expect products to be effective, they expect them to be accessible

Marko Dakovic
Marko Dakovic

09 July, 2025

Wellness isn’t what it used to be – and that’s a good thing. Here’s why
Image: Supplied

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Not too long ago, health was something you checked in on only when something went wrong. You went to the doctor, visited the pharmacy, and picked up the prescription. Job done.

Today, that definition feels outdated.

What we’re seeing, across the Middle East and globally, is a shift from reactive health to proactive wellbeing.

The modern consumer is no longer waiting to fall ill to start paying attention to their body or lifestyle. Health is being redefined through a more holistic lens – one that includes mental clarity, emotional resilience, better sleep, digestive health, nutrition, movement, and yes, skincare routines built around ingredients most people hadn’t heard of five years ago.

This isn’t just a change in consumer behaviour. It’s a full-scale cultural evolution. And one that’s shifting how we think about the role of health and beauty in everyday life.

A generation that knows more – and expects more

Much of this change has been driven by younger generations, according to a recent McKinsey report, primarily millennials who are leading the way in wellness-focused spending.

Gen Z, meanwhile, has shown a noticeable shift over the past five years — especially in the MENA region—toward beauty and skincare. Under-30s now make up 55 per cent of the region’s population — a generation that’s connected, curious, and values authenticity.

In the past, skincare marketing focused heavily on anti-ageing, mostly targeting older demographics. Now, we’re seeing Gen Z and millennial audiences stepping into wellness stores, scanning ingredient labels, and asking about retinol, niacinamide or probiotics. Not because of hype, but because they’ve done their research.

The difference today is access to information. Health-related content, from expert videos, AI tools, to Reddit threads, is everywhere. People are becoming more aware, more curious, and more intentional. This means retailers and brands alike can no longer lead with vague promises. They need to lead with facts.

Beyond the buzzwords

This shift in awareness also calls for greater responsibility. We’ve seen a rise in the use of labels like “natural”, “clean”, or “organic” across products. But what do these really mean? In many cases, there’s still no global standard or universal regulation that holds those words accountable.

As an industry, we have a duty to help consumers cut through the noise. Education, whether through trained staff, verified certifications, or clearer brand communication – should be at the core of any modern wellness strategy. The more people understand what they’re buying, the more confident and empowered they feel in taking care of their wellbeing.

Health is becoming more personal – and more digital

Wellness has also gone digital. Consumers don’t just expect products to be effective. They expect them to be accessible.

Whether it’s a pharmacy experience on WhatsApp, advice via telehealth, or same-day delivery of nutrition supplements, convenience now sits at the heart of health. In fact, the GCC’s telehealth market is forecasted to exceed $2.5bn by 2033, with growing emphasis on wellness and preventive healthcare and integration of telehealth platforms among the leading contributors.

Technology will continue to play a huge role in the future of the industry. AI, in particular, will have wide-ranging applications. From helping brands predict wellness trends to enabling more personalised consumer journeys. Within the GCC, AI is expected to shape the healthcare landscape, transforming the future of patient care But for any of it to matter, it must make health more human – not less.

What’s next

As the definition of wellness continues to expand, I believe the Middle East region is uniquely placed to lead. The Middle East and North Africa (MENA) beauty and personal care market alone is projected to reach $60bn by 2025. We have a digitally engaged, culturally diverse population with high expectations and strong spending power. The opportunity lies in listening closely to what consumers want, and to what they’re still unsure about.

At GMG, our focus is on designing health and beauty experiences that meet people where they are – in their lifestyles, their cultural needs, and their values. We see wellness not as a trend, but as a long-term movement grounded in knowledge, trust, and progress.

Because while trends may come and go, the desire to feel better, more energised, more balanced, more informed, is here to stay.

The writer is the president of Health & Beauty, GMG.

UAE’s Golden Visa clarification issued: Authority denies rumours

The authority emphasised that all Golden Visa applications are handled exclusively through official government channels within the UAE

Gulf Business
Gulf Business

09 July, 2025

UAE’s Golden Visa clarification issued: Authority denies rumours
Image credit: WAM

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The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) has denied the accuracy of recent rumors circulated by some local and international media outlets and websites, claiming that the United Arab Emirates (UAE) is granting lifetime Golden Visas to certain nationalities.

Read-UAE Golden Visa now more accessible to Indian applicants

ICP clarified that the categories, conditions, and regulations governing the Golden Visa are clearly defined in accordance with official laws, legislation, and ministerial decisions. Official information is available on the Authority’s website and smart application, a WAM report said.

The authority emphasised that all Golden Visa applications are handled exclusively through official government channels within the UAE.

No internal or external consultancy is recognized as an authorized party in the application process.

Warning against false claims and unofficial channels

The Authority noted recent misleading claims by a consultancy office based abroad, which suggested that lifetime Golden Visas could be obtained for all categories from outside the UAE through consulting or commercial entities under simplified conditions. These claims, ICP stated, have no legal basis and were made without coordination with the UAE’s relevant authorities.

ICP reaffirmed its commitment to providing a secure and transparent process for applicants, continuously enhancing its services via official digital platforms only.

Legal action will be taken against any entity disseminating false information or attempting to illegally collect money from individuals seeking residency in the UAE, thereby exploiting their hopes for a dignified and secure life.

The Authority urged individuals wishing to visit, live, or invest in the UAE not to respond to inaccurate rumors or false news spread for quick profit. People are advised not to pay any fees or submit personal documents to parties falsely claiming to offer such services.

ICP strongly advised the public to verify the accuracy of procedures only through official sources—either by visiting the Authority’s website or contacting the call center at 600522222, available 24/7—before taking any action.

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