United Carton Industries Company (UCIC), the Middle East and North Africa’s largest corrugated carton manufacturer, announced the successful completion of its retail subscription period, with the tranche oversubscribed 8.91 times and participation from 396,601 individual investors.

The retail offering, comprising up to 2.4 million shares or 20 per cent of the total 12 million shares on offer, concluded on May 13.

The company said the total demand reached SAR1.069bn (approx. $285m).

United Carton Industries IPO: Offer price set at SAR50 per share

Each subscriber will receive a minimum of six shares, with the remaining shares allocated on a pro-rata basis.

The average allocation factor for additional shares was 0.107 per cent.

The final offer price was set at SAR50 per share — the top of the previously announced price range — implying a market capitalisation of SAR2bn ($533m) at the time of listing.

The 12 million shares represent 30 per cent of UCIC’s total issued share capital. The offering marks a significant step for the company as it looks to expand its profile in the regional capital markets.

Read: 54 IPOs raised $12.6bn in 2024 in MENA region, shows report

At the 2025 Arabian Travel Market in Dubai, Expedia Group unveiled a series of strategic initiatives aimed at deepening its presence in the Middle East. From the launch of its Travel Agent Affiliate Program (TAAP) in the UAE to expanded partnerships with Emirates and Adeera, the global travel platform is doubling down on technology, B2B solutions, and destination marketing to fuel regional tourism growth.

We spoke with Rob Torres, SVP of Expedia Group Media Solutions, about the company’s vision, evolving traveller trends, and what’s next for Expedia in the region.

What did Expedia Group showcase at this year’s Arabian Travel Market (ATM)?

At ATM, we showcased a range of initiatives reflecting our growing commitment to the Middle East, particularly in the UAE. Our focus was on expanding our advertising business, strengthening partnerships with tourism boards, and launching key B2B programs like the Travel Agent Affiliate Program (TAAP). This forms part of our Private Label Solutions and is a powerful tool designed to support the region’s traditional travel agents with access to Expedia’s global inventory.

Tell us more about the launch of the Travel Agent Affiliate Program (TAAP).

Yes, TAAP officially launched this week in the UAE. It’s a dedicated platform that enables local travel agents to earn commission on the total booking value. With intuitive tools and marketing support, agents can now book more efficiently and expand their reach. This is particularly important in a market where traditional, brick-and-mortar agencies still play a significant role in travel bookings.

What travel trends did you highlight during ATM discussions?

One of the strongest trends is the influence of social media in destination selection. According to our latest survey, 63 per cent of respondents said they consult social channels when deciding where to travel. Our advice to destinations is clear: use storytelling, influencers, and dynamic content to highlight the unique local experiences that make your destination worth visiting.

How does Expedia support agents and customers in a region where booking habits differ from Western markets?

Simplicity and flexibility are key. Many people may complete bookings offline but conduct research online first. We support both through rich content and seamless tech. Whether it’s through TAAP or our online platforms, we want to ensure the right content reaches the right audience — when, where, and how they need it. The end goal is always to inspire travel, regardless of the booking channel.

Tell us about your recent airline and hospitality partnerships in the region.

We’ve deepened our long-standing relationship with Emirates through New Distribution Capability (NDC) integration, allowing us to offer travellers dynamic fares, ancillaries, and personalised options on our platforms. On the hospitality side, we’re collaborating with Adeera, a Saudi Public Investment Fund (PIF)-backed company.

Through our B2B platform, we’re helping them distribute hotel rates for upcoming properties across Saudi Arabia. These partnerships enable us to provide better packaging, flight + hotel bundles, and flexibility to travellers.

What are some of Expedia’s advertising initiatives in the Middle East?

Our travel media network, Expedia Group Media Solutions, has launched several impactful campaigns in the region. For example, “Sunshine Pass” with Experience Abu Dhabi highlights year-round experiences and is running in 13 global markets. We’re also working with Visit Oman, integrating local tour providers and launching a campaign targeting the US, UK, and Middle East markets. And in Jordan, our “Super Supper Club” campaign celebrates culinary tourism and has already driven a 9 per cent increase in demand and 17 per cent growth in gross revenue.

What kind of global interest are you seeing in Middle East travel destinations?

Interest is very strong. Dubai has become both a stopover hub and a standalone destination, with growing demand from North America in particular. We’ve also seen increased outbound travel from the UAE to the US and beyond. Across the board, search interest for the region is up year on year, showing sustained global appetite for Middle East destinations.

What’s Expedia’s strategic outlook for the Middle East in 2024 and beyond?

We’re doubling down on partnerships, onboarding more hotels, and scaling our Arabic-language websites for the UAE and Saudi Arabia to enhance user experience. We’re also expanding our advertising footprint and building integrated campaigns across channels to promote travel to the region. Technology is central — whether it’s mobile price tracking or packaged deals, we’re building smarter, more localised experiences.

How is AI expected to transform the travel experience?

AI will dramatically enhance personalisation. It allows us to use data more effectively to tailor offers and recommendations to each user. This means more relevant content, better planning tools, and increased conversion. Ultimately, it’s going to inspire more people to travel because the experiences presented to them will be more aligned with their preferences.

This was your first time attending ATM. How was the experience?

It was fantastic. The energy was palpable. I’ve heard from past attendees that this year felt even bigger and more productive. Conversations weren’t just exploratory — they were about actual implementation and collaboration. What’s exciting is seeing regional destinations working together.

Any final thoughts?

The Middle East is a strategic growth region for us. We’re committed to empowering our partners — through tech, tools, content, and global reach — to connect with millions of travellers. We see our role as an enabler of growth, helping partners unlock new revenue and build stronger travel ecosystems.

Foreign pilgrims will be allowed to arrive in Saudi Arabia for Umrah starting on Dhul Hijjah 15, corresponding to June 11, 2025.

Read-Umrah travel expansion: 2.5m airline seats targeted for pilgrims

This is in accordance with the official Umrah calendar announced by the Ministry of Hajj and Umrah for the year 1447, according to a Saudi Gazette report.

The Calendar

The calendar includes key information such as visa issuance dates, agreements with foreign agents, and deadlines for entry and departure of pilgrims coming from outside the Kingdom.

According to the ministry, Umrah visa issuance will begin on 14 Dhul Hijjah 1446 (June 10, 2025), followed by the official start of pilgrim arrivals on 15 Dhul Hijjah 1446. Contracts with foreign agents to define services for pilgrims must be finalized by 29 Dhul Qadah 1446 (May 27, 2025).

Preparations for the new Umrah season began on March 25 with the launch of the external agent qualification service via the “Nusuk” platform and the “Umrah Path” system. Agreements between Umrah companies and external agents began signing on April 14 during the Hajj and Umrah Services Forum 2025.

Key dates

The calendar also outlines key cut-off dates. The final deadline to issue Umrah visas is 1 Shawwal 1447 (March 20, 2026), while the last date for pilgrims to enter the Kingdom is 15 Shawwal 1447 (April 3, 2026). Pilgrims must depart by 1 Dhul Qadah 1447 (April 18, 2026).

Additionally, the ministry noted that the acceptance of external agent qualification requests will close by 1 Sha’ban 1447 (January 20, 2026), which is also the deadline for approving contracts with Umrah companies.

This timeline is part of the ministry’s strategic planning to ensure a smooth and well-organized Umrah season, enhancing services for pilgrims from around the world.

ADNEC Group has confirmed it is fully prepared to host the largest edition yet of Make it in the Emirates, with the 2025 forum marking a major milestone in scale and scope.

Organised by ADNEC Group for the first time, this year’s event will span over 68,000 square metres — an expansion of more than 300 per cent from the previous edition — and host more than 720 exhibitors, a sixteen-fold increase.

The forum, hosted by the UAE Ministry of Industry and Advanced Technology (MoIAT) and organised in partnership with the Ministry of Culture, Abu Dhabi Investment Office (ADIO), and ADNOC, will bring together innovators, manufacturers, and investors from around the world.

Make it in the Emirates to support growth across 12 sectors

It aims to unlock growth across 12 strategic sectors aligned with the UAE’s industrial ambitions.

Capital Events, ADNEC Group’s event management arm, is overseeing the delivery of the forum, which is expected to welcome over 30,000 visitors.

ADNEC Centre Abu Dhabi will implement enhanced operational plans, including traffic and parking management, streamlined entry for VIPs and delegates, and upgraded security protocols throughout the four-day event.

Capital 360 Event Experiences, another ADNEC Group subsidiary, is supporting the activation of the event by delivering 45 custom-built stands and managing 12 key feature zones including the Media Centre, Investors Lounge, and Networking Lounge.

The team will also coordinate venue-wide branding, sponsor activations, and technical services for all exhibitors, while 230 plug-and-play pods and 32,000 sqm of premium carpeting will ensure a cohesive and elevated visitor experience.

Capital Catering, the group’s F&B division, will provide culinary services across the venue, offering diverse menus through food trucks, quick-service counters, and VIP lounges.

“ADNEC Group’s business clusters are united in delivering a world-class edition of Make it in the Emirates 2025, reinforcing the UAE’s position as a global industrial and innovation hub,” the group said in a statement.

The forum is positioned as a flagship platform for supporting the UAE’s vision of a sustainable and competitive industrial economy driven by innovation.

The Ministry of Interior in Saudi Arabia has issued a warning against fraudulent Hajj campaigns, unlicensed offices offering services to pilgrims, and deceptive advertisements.

Read-Hajj 2025: Saudi announces 10-day paid leave for employees

The ministry also emphasised on the importance of complying with Hajj regulations and instructions designed to ensure the safety and security of pilgrims, allowing them to perform their rituals smoothly and peacefully, a Saudi Press Agency report said.

It urged the public to report any violations by calling 911 in Makkah, Madinah, Riyadh, and the Eastern Region, or 999 in all other areas of the country.