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Dubizzle Group postpones Dubai IPO

Dubizzle operates property portal Bayut and dominates key classifieds segments in the region

Gulf Business
Gulf Business

29 October, 2025

Dubizzle Group postpones Dubai IPO
Image: WAM/ For illustrative purposes

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Online classifieds giant Dubizzle Group has paused its planned initial public offering on the Dubai Financial Market (DFM), despite reporting a 75 per cent surge in revenue over the past three years, as the company looking at an optimal time for its debut.

The move came just a day before the bookbuilding process was due to begin.

Founded in the UAE and widely seen as a fixture of daily life across the Gulf, Dubizzle operates property portal Bayut and dominates key classifieds segments in the region.

The platform serves more than 18m monthly active users and generates around 54m sessions across the UAE, Saudi Arabia, Egypt, and other GCC markets.

It holds about 65 per cent of UAE property traffic market share and 87 per cent of revenue share in autos.

Dubizzle reports strong revenue growth

Dubizzle reported $183m in revenue in 2024, up from $104m in 2022, with adjusted EBITDA margins improving from 25 per cent in 2022 to 46 per cent in H1 2025. The UAE accounted for nearly 89 per cent of total revenue, with expansion into Saudi Arabia underway.

The company is backed by Prosus NV, which had committed $100m to the offering.

Analysts say the decision could ultimately strengthen Dubizzle’s standing when it eventually lists, highlighting a growing preference in regional markets for sustainable growth over aggressive valuations.

Abu Dhabi Indian expat wins Dhs100m in The UAE Lottery

Since its launch, The UAE Lottery has awarded over 200 winners of  Dhs100,000, with more than 100,000 players claiming prizes totaling over Dhs147m

Neesha Salian
Neesha Salian

28 October, 2025

Abu Dhabi Indian expat wins Dhs100m in The UAE Lottery
Image: Supplied

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Anilkumar Bolla, a 29-year-old Indian national and long-time resident of Abu Dhabi, became the first-ever winner of the Dhs100,000,000 grand prize in The UAE Lottery, officials announced.

Bolla struck gold in The UAE Lottery’s 23rd Lucky Day Draw #251018, held on Saturday, October 18. At the time of the draw, he was at home when he received the call from The UAE Lottery.

Bolla said he was “completely shocked and overjoyed,” adding he first shared the news with a colleague before calling his brother in India.

“This win is beyond my wildest dreams,” Bolla said. “When I received a call from The UAE Lottery, I thought it was surreal. I kept asking them to repeat the message. It took time to sink in, and even today, I still can’t believe my new reality.”

Bolla said he plans to buy a supercar, spend a month at a seven-star hotel, and carefully plan investments. “My win is proof that hope and luck can align for anyone, especially when they least expect it,” he added.

The winning numbers were a mix of chance and personal significance. Bolla combined an Easy Pick from the “Days set” and the number 11 from the “Months set” to honour his mother’s birthday. The win coincided with the eve of Diwali, the Indian festival of lights. “It feels like an exceptional blessing,” Bolla said. “Winning on such an auspicious occasion makes it even more meaningful.”

UAE Lottery: Other winners

The draw also celebrated 10 other winners, each taking home Dhs100,000.

Since its launch, The UAE Lottery has awarded over 200 winners of Dhs100,000, with more than 100,000 players claiming prizes totaling over Dhs147m.

“First, congratulations to Anilkumar on this phenomenal win,” said Scott Burton, commercial gaming director at The UAE Lottery. “The Dhs100,000,000 prize will not only change his life but also signifies a remarkable milestone for The UAE Lottery, reinforcing our mission to uplift people’s lives while delivering regulated, exciting, and fun lottery experiences.”

Regulated by the GCGRA, The UAE Lottery is known for guaranteed prizes and responsible play.

Oman rolls out new labour reforms: Longer licenses, fee cuts announced

The new decision reinforces the regulatory framework governing employer-worker relationships, ensuring the protection of rights

Nida Sohail
Nida Sohail

28 October, 2025

Oman rolls out new labour reforms: Longer licenses, fee cuts announced
Image credit: Oman News Agency

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The Ministry of Labor in Oman has issued Ministerial Decision No. 602/2025, introducing a comprehensive new regulatory framework for work licenses and practice permits. The decision brings substantial incentives, fee reductions, and exemptions for employers, marking a major regulatory shift in the Sultanate’s labor market.

According to the Oman News Agency, the move is part of the Ministry’s ongoing effort to enhance the work environment, simplify administrative procedures, and align license validity with worker residency periods, reflecting a strategic focus on streamlining labor governance in Oman.

Read more-New rule for businesses in Oman: Here’s what you need to know

Officials emphasised that the new decision reinforces the regulatory framework governing employer-worker relationships, ensuring the protection of rights while reducing potential violations. At the same time, existing fees for domestic worker recruitment remain unchanged, and all related procedures are maintained to ensure that families and business owners do not incur additional financial burdens.

This approach underscores the ministry’s commitment to balancing the needs of employers with the rights of workers, while ensuring that recruitment processes remain secure, transparent, and compliant with the law.

Fee exemptions target vulnerable groups

A key aspect of the decision is its comprehensive exemptions for vulnerable populations. Individuals with disabilities, elderly persons unable to care for themselves, beneficiaries of household income support schemes, and people requiring specialised medical care are all eligible for fee exemptions when hiring domestic workers, child caregivers, private drivers, private nurses, or home health assistants.

By prioritizing these categories, the ministry demonstrates its humanitarian responsibility, ensuring essential care reaches those most in need while alleviating financial pressure on families. The move is part of a broader strategy to strengthen social solidarity and support vulnerable segments of society.

The reforms also extend the validity of work licenses for non-Omani workers from 15 months to 24 months. This measure aligns license periods with residency durations, addressing employer needs while reducing administrative and financial burdens. It also provides business owners with greater stability in workforce planning, a critical factor in effective human resource management.

In addition, the ministry has simplified administrative procedures by allowing upgrades of profession categories on work practice licenses through payment of the fee difference, eliminating the need to issue entirely new licenses. This step is designed to enhance operational flexibility and efficiency within the labor market.

The reforms further recognise the role of civil society and humanitarian institutions. Fees for recruiting non-Omani workers in qualifying organizations have been reduced from RO141 to RO101, reflecting their vital contributions to the community.

The decision also introduces a 30 per cent reduction in license fees for employers compliant with Omanisation targets, while non-compliant establishments face doubled fees. This strategic incentive encourages national workforce employment and supports Oman’s broader goals of workforce localization and labor market development.

Structured fees and penalty measures

Ministerial Decision No. 602/2025 introduces structured facilities for fee payments and delay penalties, with a maximum penalty of RO500 per worker for late license renewals or worker data registration. This measured approach encourages timely compliance while avoiding excessive financial strain on employers.

The decision also provides exemptions from fees and penalties in specified circumstances, including worker-initiated complaints after contract termination, worker death, visa changes, or departure from Oman. These measures ensure that employer-worker relationships remain fair and legally compliant.

Under the new framework, business owners can recover license fees or obtain new licenses at a nominal RO1 per worker under conditions such as worker repatriation within 90 days, failure to pass medical exams, visa non-approval, employer death, or license cancellation due to administrative or technical reasons.

Further protections include exemptions from delay penalties in cases such as chronic worker illness, passport confiscation, establishment bankruptcy, liquidation, employer death, or worker imprisonment. These provisions reflect the Ministry’s consideration for real-world employer challenges and help mitigate financial risks.

Driving labour market efficiency and social impact

The ministry confirmed that these measures are part of a comprehensive strategy to enhance Oman’s labour system, improve working conditions, and promote regulatory compliance. By combining worker protections with business flexibility, the reforms aim to support both economic growth and social welfare objectives.

Notably, the decision emphasises support for vulnerable populations, ensuring secure and organized access to essential services. Families and employers can now provide care through structured channels while meeting legal and regulatory requirements.

These reforms strengthen labor market stability, encourage regulatory adherence, and underscore Oman’s commitment to sustainable social and economic development, balancing the interests of employers, workers, and the broader community.

Dubai’s bold move: Turning daily QR scans into a cyber-safe routine

Reports indicate that more than 4.2 million attempts to forge QR codes were detected globally in the first half of 2025 alone

Gulf Business
Gulf Business

28 October, 2025

Dubai’s bold move: Turning daily QR scans into a cyber-safe routine
Image credit: WAM/Website

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On the occasion of Cybersecurity Awareness Month, the Dubai Electronic Security Centre (DESC) launched the “Scan Smart” campaign from October 24 to 30, 2025. The initiative aims to raise awareness, equip citizens with practical cybersecurity knowledge, and prevent QR code-related cyber threats across all audience groups.

As QR codes become increasingly integrated into everyday transactions, ranging from restaurants and retail outlets to hotels and events—the risk of tampered or malicious codes has emerged as a pressing cybersecurity concern. Threat actors can exploit public QR codes by overlaying or replacing them, potentially redirecting users to phishing sites, installing malware, or harvesting sensitive personal data, according to a WAM report.

Read more-PRYPCO launches super app for real estate agents in Dubai

Reports indicate that more than 4.2 million attempts to forge QR codes were detected globally in the first half of 2025 alone, underscoring the urgent need for public awareness. Through the “Scan Smart” campaign, DESC seeks to equip individuals and businesses with the tools to identify legitimate QR codes, avoid compromised ones, and report suspicious activity, transforming awareness into actionable cybersecurity practices.

Commenting on the initiative, Yousuf AlShaibani, Chief Executive at DESC, said:

“The ‘Scan Smart’ campaign reflects DESC’s commitment to empowering both businesses and the public with practical cybersecurity knowledge and tools to safeguard their digital interactions. Through this initiative, we aim to make Dubai a safer cyberspace for everyone.”

Interactive tools and community engagement

The campaign features an interactive kiosk and an engaging microsite designed to educate the public on safe QR code practices. It also promotes RZAM, DESC’s free browser extension that flags suspicious websites that may appear after scanning QR codes.

As part of the initiative, a network of F&B venues across Dubai have joined as “Scan Smart Partners”, displaying campaign-branded materials such as stickers and table tents while offering incentives like free coffee and exclusive discounts. The “Scan Smart Partner” label identifies venues actively supporting DESC’s outreach efforts, signaling to the public that these spaces promote safe digital habits.

Participating businesses demonstrate social responsibility and alignment with Dubai’s vision of a safer cyberspace. Cafés and other public venues become micro awareness hubs where digital safety intersects with daily routines, encouraging customers to verify QR codes before scanning. Reporting fraudulent codes through official channels further strengthens city-wide monitoring and response.

The “Scan Smart” campaign reinforces DESC’s ongoing dedication to protecting Dubai’s digital ecosystem while promoting a cyber-aware community. The initiative also aligns with the UAE’s Year of Community, fostering public engagement and safer online practices across everyday life.

Saudisation plan for private sector accountants: New rules set to transform jobs

The minimum wage for accountants has been set at SAR6,000 for bachelor’s degree holders or equivalent and SAR4,500 for diploma holders

Gulf Business
Gulf Business

28 October, 2025

Saudisation plan for private sector accountants: New rules set to transform jobs
Image credit: Getty Images

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Saudi Arabia has begun implementing the first phase of a nationwide plan to localise accounting professions in the private sector. Effective Monday, October 27, establishments employing five or more accountants are required to meet a 40 per cent Saudisation rate.

The move, announced by the Ministry of Human Resources and Social Development in partnership with the Ministry of Commerce, aims to strengthen local talent in the kingdom’s private sector, a Saudi Gazette report said.

Read more-Saudi tightens tourism rules: Fines soar to SAR250,000 for unlicensed operators

Under the new regulations, the minimum wage for accountants has been set at SAR6,000 for bachelor’s degree holders or equivalent and SAR4,500 for diploma holders or equivalent.

Authorities said the measure is part of broader efforts to create more diverse employment opportunities for both male and female citizens across all sectors.

The Saudisation targets span 44 accounting professions, including financial manager, accounting manager, finance and accounting manager, accounts and budget manager, treasury manager, certified public accountant, financial controller, and senior financial auditor. The programme will be implemented in five phases over five years, gradually increasing the localisation rate to 70 percent, giving companies ample time to adjust while ensuring steady workforce localisation.

Guidelines, compliance, and incentives

The Ministry of Human Resources has published a procedural guide on its website, detailing required Saudisation percentages and implementation steps. Establishments are urged to comply to avoid legal penalties. The Ministry of Commerce will oversee the initiative, ensuring adherence aligns with labor market needs.

Private sector employers can benefit from several support programs, including recruitment assistance, training, qualification, employment, and career continuity services. Companies will also gain priority access to Saudisation support programs and the Human Resources Development Fund’s (HADAF) initiatives, helping them integrate local talent more effectively.

The decision underscores Saudi Arabia’s commitment to localising professional roles, particularly in the accounting sector, aligning workforce development with broader economic diversification goals while supporting sustainable growth in the private sector.

HUMAIN, Qualcomm to build AI inferencing hub in Saudi Arabia

The initiative is billed as the world’s first fully-optimised “edge-to-cloud” hybrid AI service

Neesha Salian
Neesha Salian

28 October, 2025

HUMAIN, Qualcomm to build AI inferencing hub in Saudi Arabia
Image: HUMAIN

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Saudi-based artificial intelligence company HUMAIN has partnered with US semiconductor group Qualcomm Technologies to deploy advanced AI infrastructure in the kingdom, aiming to establish a global hub for AI inferencing services.

Under the programme, PIF-owned HUMAIN is targeting the deployment of 200 megawatts of Qualcomm’s AI200 and AI250 rack solutions beginning in 2026.

The initiative is billed as the world’s first fully-optimised “edge-to-cloud” hybrid AI service.

HUMAIN-Qualcomm collab to lead support the kingdom’s AI ambitions

HUMAIN chief executive Tareq Amin said: “This collaboration combines our deep regional expertise and full AI stack and infrastructure capabilities with Qualcomm’s decades of semiconductor technology and product leadership.

“Together, we will unlock exponential value across industries and position Saudi Arabia to lead the next era of artificial intelligence innovation in the region and globally for generations to come.”

Qualcomm president and CEO Cristiano Amon added: “By establishing advanced AI data-centres powered by Qualcomm’s industry-leading inference solutions, we are helping the kingdom create a technology ecosystem that will accelerate its AI ambitions of becoming a hub of intelligent computing.”

The deal addresses growing demand for scalable AI computing infrastructure and aligns with Saudi Arabia’s strategy to build a regionally-based tech ecosystem beyond oil. The collaboration integrates HUMAIN’s in-house Arabic-multimodal large-language model “ALLaM” with Qualcomm’s infrastructure, enabling tailored solutions for enterprise and government customers.

Qualcomm’s AI200 and AI250 systems are engineered for rack-scale performance, high memory capacity, and improved total cost of ownership for generative AI inference.

The AI250 is scheduled to launch in 2027.

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