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From One Development to startups: Kevin O’Leary dishes out details

The entrepreneur opens up about why he’s betting big on the UAE, what makes One Development’s real estate model stand out, and the hard truths he shares with investors and founders

Neesha Salian
Neesha Salian

16 June, 2025

From One Development to startups: Kevin O’Leary dishes out details
Image: Motivate Media Group

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Shark Tank’s Kevin O’Leary is going all-in on the UAE. The outspoken investor has partnered with One Development as a brand ambassador, drawn by the company’s ambitious vision to fuse AI and real estate. “I’m not just endorsing it — I’ll be living in it,” says O’Leary, who plans to move into the Laguna Residences as part of his growing stake in the region’s future.

We caught up with him at One Development’s new office on Saadiyat Island during his recent visit to Abu Dhabi to mark the announcement of the partnership.

In our conversation, O’Leary opened up about why he’s betting big on the UAE, what makes One Development’s real estate model stand out, and the hard truths he shares with every entrepreneur — from Shark Tank pitches to boardroom battles.

You clearly love this region. What keeps bringing you back?

I have residency here. The real estate is phenomenal, the tech is cutting-edge, and the food — especially the Lebanese cuisine — is amazing. It’s an exciting time to be here, and there’s always something new to discover.

Let’s discuss your partnership with One Development as a brand ambassador. What drew you to this collaboration?

Real estate has always been the largest sector in my portfolio — about a third, which breaks my own investing rule. I’ve invested in commercial, residential, and even data centres, but I had never seen the vision that Ali [Al Gebely, founder and chairman of ONE Development] has.

Ali’s idea of fully integrating AI and technology into real estate isn’t just a gimmick. Most smart homes still require five or six apps to function properly — security, cameras, appliances, and so on. One Development offers a single integrated platform to control your entire environment from your phone. That’s genius. I’m very selective with brand ambassadorships, and I only represent products or services I actually use. In this case, I’m going to live there. The technology is the top selling feature, and I’m excited to be part of it.

How do you see yourself contributing to One Development’s broader expansion, especially with your business-building expertise?

What I like about One Development is the diversification. For instance, the DO Hotel is a very different project from Laguna Residences. You want both sectoral and geographical diversification in real estate. The company’s Cairo project really clinched it for me. I have a personal connection — my stepfather is Egyptian and Swiss. I’ve been to Alexandria and Cairo many times and love the place. What Ali is envisioning there is incredible. With investor interest in the region and the kind of returns you can get here, it’s a compelling opportunity.

Read: Amr Diab, ONE Development launch AI-powered DO Hotels & Residences

Speaking of the region, why the UAE? What makes it attractive for investors like yourself?

Policy is everything. You need to be able to get permits, have competitive tax rates, stability, and access to growth. The UAE offers all of that. It’s also become the capital of capital for this region. You can base yourself here and invest across other countries easily. Abu Dhabi and Dubai are safe, accessible, and strategically located. I always tell people — if you want to understand this place, spend a couple of weeks here. You’ll see why it’s exciting for investors.

With today’s global economic uncertainty, what advice would you give investors? What sectors look promising to you right now?

Geographic diversification is critical. If you had only North American assets right now, you’re facing maximum volatility. I’m glad I’ve allocated around 15 per cent to this region — returns have been significant in just the past year.

Real estate particularly in the UAE is much more stable. A lot of my peers from cities like Boston, New York, Toronto, and Zurich are also here. Everyone’s figured it out.

The UAE is pushing SMEs and entrepreneurship. What advice do you have for startups looking for funding?

Ninety percent of my successful venture returns have come from companies led by women. Women are great at mitigating risk and executing. For any entrepreneur, three things matter: First, pitch your idea in 90 seconds or less. Second, prove that you can execute it — ideas are cheap, execution is rare.

Third, know your numbers — market size, growth, break-even point, competitors. That’s how you attract capital.

You’ve mentioned AI is big in the UAE. How does AI fit into your investment strategy?

Huge focus. Most of my AI investments are in vertical applications across our businesses. AI powers content creation — essential for customer acquisition. Now, we can produce compelling, multilingual content with high-quality visuals at a fraction of the cost. AI is a game changer in productivity — even in creative sectors.

What’s a key life or business lesson that you always share?

When I graduated from business school, a guest speaker told us one-third would fail, one-third would live a mediocre life in consulting, and only 10 per cent of the entrepreneurial third would succeed. I thought he was harsh — but he was right. That insight came from experience. Also, listen to your intuition when investing. If something doesn’t feel right, don’t ignore it.

Who are some people who have influenced or inspired you?

Steve Jobs. I worked with him when we developed educational software for Apple. He taught me the importance of the “signal versus the noise”.

Focus on what needs to get done today — the “signal”. Everything else is noise. I live by that 80/20 ratio.

Elon Musk is the only guy I’ve seen who’s probably 100 per cent “signal”. He’s something else.

I’ve noticed you wear two watches. What’s the story there?

I’m a serious watch collector. One is set to Abu Dhabi time, the other to New York time. These two watches — a Rolex Rainbow with a rare red band and a Vélos — are part of my prized collection. When I come to the UAE, I like to wear colourful pieces.

You mentioned longevity. So how does Mr Wonderful prioritise health with such a busy schedule?

I invest a lot in myself. The best longevity clinics are here in the UAE. Every time I visit, I do EBOO therapy (extracorporeal blood oxygenation and ozonation) —cleansing and ozonating my blood—then inject 50 billion exosomes to reduce inflammation. It keeps me feeling like I’m 30, even though I’m 70.

The UAE has prioritised healthcare innovation for decades, which is why the best tools and doctors are here.

When you have a rough day, what helps you reset?

Exercise. I bike 12 miles to clear my head. And I’ve learned not to let ups and downs affect me too much. Every day brings setbacks and wins. If something bad happens, I just wait a few hours — something good usually follows.

UAE’s 2031 non-oil foreign trade target will be achieved in 2 yrs: Sheikh Mohammed

The UAE has reported consistent record-breaking non-oil trade performance for several years, underpinning its efforts to position itself as a global hub

Gulf Business
Gulf Business

15 June, 2025

UAE’s 2031 non-oil foreign trade target will be achieved in 2 yrs: Sheikh Mohammed
Image: Dubai Media Office

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The UAE’s non-oil foreign trade surged by 18.6 per cent year-on-year in Q1 2025, reaching Dhs835bn, as the country accelerates toward its economic diversification targets ahead of schedule, according to Vice President and Prime Minister of the UAE and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum, Dubai Media Office (DMO) reported.

Sheikh Mohammed stated: “The UAE’s non-oil foreign trade saw growth of 18.6 per cent year-on-year in the first quarter of this year, reaching Dhs835bn (global average is 2-3 per cent). The nation’s non-oil exports experienced exceptional growth, surging by 41 per cent annually.”

UAE’s non-oil exports in Q1 2025

Non-oil exports recorded Dhs177.3bn in Q1 2025, a 40.7 per cent increase compared to Q1 2024 and a 15.7 per cent jump from the fourth quarter of 2024.

For the first time, non-oil exports represented over 21 per cent of the UAE’s total non-oil trade, outpacing both imports and re-exports.

“Our goal to grow non-oil foreign trade to Dhs4tn by 2031 will be achieved within the next two years; four years ahead of schedule. In 2024, GDP grew by 4 per cent, reaching Dhs1.77tn, with the non-oil sector contributing 75.5 per cent to the national economy,” Sheikh Mohammed added.

Re-exports grew by 6 per cent annually to Dhs189.1bn, while imports reached Dhs468.6bn, up 17.2 per cent year-on-year but slightly down 1.7 per cent from Q4 2024.

According to the (DMO) report, Sheikh Mohammed reaffirmed the country’s economic trajectory: “Under the leadership of HH [UAE President] Sheikh Mohamed bin Zayed Al Nahyan, the UAE’s economic growth is achieving unprecedented success. Indicators of social, economic, and strategic stability and prosperity are at their highest historical levels. We are confident in an even brighter future, driven by the focused efforts of thousands of dedicated teams working to realise the UAE’s global ambitions.”

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UAE’s top trading partners

Trade with the UAE’s top 10 trading partners rose by 20.2 per cent in Q1 2025, surpassing the 16.9 per cent growth rate with other countries. Bilateral trade with India increased by 31 per cent, with Saudi Arabia by 127 per cent, with Turkiye by 8.3 per cent, and with China by 9.6 per cent, breaking previous records.

The UAE has reported consistent record-breaking non-oil trade performance for several years, underpinning its efforts to position itself as a global hub for commerce, investment, and logistics.

New initiative: How UAE is enhancing the quality of life for senior citizens, expats

The launch reflects the UAE’s long-term goal of making government services more accessible, empathetic, and inclusive — particularly for the country’s ageing population

Gulf Business
Gulf Business

15 June, 2025

New initiative: How UAE is enhancing the quality of life for senior citizens, expats
Image: Getty Images/ For illustrative purposes

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The UAE’s Ministry of Energy and Infrastructure (MoEI) has announced a new initiative aimed at improving the quality of life for senior citizens and residents, under the banner ‘We Are Your Support’, as part of the national ‘Year of the Community‘ campaign.

The initiative introduces a suite of innovative and integrated services designed to enhance the well-being, dignity, and independence of elderly citizens and long-time residents.

Key components include the National Housing Specifications Guide for Senior Citizens, free housing design options via the ‘Darak’ platform, and voluntary engineering consultations in energy, electricity, and construction through the ‘Aounkom’ initiative.

Dedicated advisors with experience in social services and fluency in local dialects have been appointed at MoEI service centres in Dubai, Sharjah, Ras Al Khaimah, and Fujairah.

They are tasked with delivering tailored assistance and managing exceptional cases with sensitivity.

Gender-specific services

The initiative also introduces gender-specific enhancements. For elderly women, the ‘Leen Babek’ service enables home-based transaction processing to ensure privacy and comfort. For men, increased mobility support includes reserved parking, smart service desks, and personalised assistance through to the completion of services.

A ‘Golden Counter’ has also been launched at service centres to prioritise senior citizens’ transactions, alongside workshops aimed at increasing digital literacy among the elderly and offering direct support with digital services when needed.

We Are Your Support to empower senior citizens and residents

Sharif Al Olama, Under-Secretary for Energy and Petroleum Affairs at MoEI, said the initiative aligns with the leadership’s commitment to providing personalised, human-centred public services.

“We believe that serving the elderly is not just a duty, but a privilege and a gesture of gratitude toward a generation that contributed to building the nation,” Al Olama said. “The ‘We Are Your Support’ initiative was designed to be a model of empowerment and care, delivering an exceptional service experience that reflects the appreciation they deserve.”

He added that the initiative is part of a broader government strategy to eliminate bureaucracy and deliver proactive, seamless, and smart services that reflect the values of inclusion and respect for all community segments.

Timeline revealed: Driverless Ubers to hit Dubai roads

The initial phase will feature autonomous vehicles operating with a safety driver onboard to monitor performance and ensure safety

Gulf Business
Gulf Business

15 June, 2025

Timeline revealed: Driverless Ubers to hit Dubai roads
Image credit: Dubai Media Office/Website

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Dubai’s Roads and Transport Authority (RTA) has signed a Memorandum of Understanding (MoU) with Uber Technologies, Inc. (NYSE: UBER), a global leader in ride-hailing and delivery, and WeRide (NASDAQ: WRD), a leading autonomous driving technology firm. Under the agreement, autonomous vehicles will begin pilot operations via the Uber app in Dubai later this year.

Read-WeRide, Uber to roll out autonomous vehicles in 15 more cities

The initial phase will feature autonomous vehicles operating with a safety driver onboard to monitor performance and ensure safety. The full commercial rollout of driverless services is scheduled for 2026, a Dubai Media Office report said.

Field preparations for the pilot program are currently underway, led by Uber and WeRide with strategic oversight and support from the RTA.

Image credit: Dubai Media Office/Website

The MoU signing ceremony was attended by Mattar Al Tayer, Director General and Chairman of the Board of Executive Directors at RTA; Madhu Kannan, Chief Business Officer at Uber; and Ryan Zhan, Regional General Manager of Middle East and Africa at WeRide. The agreement was signed by senior representatives from all three organizations, including Ahmed Hashim Bahrozyan, CEO of RTA’s Public Transport Agency; Frans Hiemstra, Regional General Manager for MEA at Uber; and Eric Dong, Director of Capital Markets and Corporate Development at WeRide.

Supporting Dubai’s smart mobility vision

Mattar Al Tayer hailed the agreement as a strategic step toward positioning Dubai as a global leader in smart and sustainable transport solutions.

“The introduction of autonomous vehicles in Dubai represents a significant leap toward a smart and sustainable mobility future, aligned with the leadership’s vision to transform Dubai into the world’s smartest city,” Al Tayer said. “This initiative supports the Dubai Smart Self-Driving Transport Strategy, which aims to convert 25 per cent of all journeys in Dubai to autonomous transport by 2030.”

Al Tayer emphasised that this agreement reflects Dubai’s commitment to adopting advanced technologies and innovative transport solutions that align with global best practices.

Strengthening global partnerships

In his remarks, Al Tayer highlighted the role of global collaboration in advancing autonomous mobility.

“The RTA is expanding its network of international partners to deploy a diverse range of autonomous mobility solutions, including self-driving taxis, air taxis, and marine transport modes,” he said. “This will enhance road safety, improve quality of life for residents and visitors, and support first and last-mile connectivity across the public transport network.”

He added that the transition to autonomous mobility is no longer a futuristic concept but an emerging reality. “Technology developers and governments worldwide are accelerating efforts to build infrastructure and regulatory frameworks that enable the safe deployment of autonomous vehicles,” Al Tayer noted.

Uber and WeRide align with Dubai’s vision

Frans Hiemstra, Regional General Manager for the Middle East and Africa at Uber, underscored the importance of the Dubai launch in Uber’s global strategy.

“At Uber, we are building the future of transportation—autonomous, electric, and shared,” Hiemstra said. “We’re excited to launch in Dubai with WeRide as our first technology partner. This marks a key milestone in making autonomous vehicle services more accessible globally.”

Jennifer Li, Chief Financial Officer and Head of International at WeRide, echoed the sentiment, calling the MoU a major step forward in the company’s regional expansion.

“The Middle East is a strategic priority for us,” Li said. “Just last month, we expanded our partnership with Uber to deploy robotaxis in 15 additional cities globally. This new agreement with RTA and Uber strengthens our commitment to Dubai’s goal of making 25 per cent of all transportation autonomous by 2030.”

Li added that WeRide’s advanced autonomous driving technology and global deployment experience position it to be a key enabler of this transformation.

Conclusion

The collaboration between RTA, Uber, and WeRide marks a pivotal milestone in Dubai’s efforts to lead the world in autonomous mobility. With pilot testing set to begin by the end of 2025 and a full commercial launch planned for 2026, Dubai is firmly on track to become a global testbed for cutting-edge transportation technologies.

UAE: Midday work ban starts, see penalties for violations

The ministry has encouraged the public to report violations through its call centre (600590000), website, or smart app

Gulf Business
Gulf Business

15 June, 2025

UAE: Midday work ban starts, see penalties for violations
Image: Getty Images/ For illustrative purposes

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The UAE has commenced its 21st annual ‘Midday Work Ban’, effective from June 15 until September 15.

A key part of the UAE’s sustainable labour strategy, the rule, enforced by the Ministry of Human Resources and Emiratisation (MoHRE), prohibits any outdoor work under direct sunlight between 12:30pm and 3pm daily.

The initiative aims to safeguard the health and safety of workers — particularly in construction and outdoor sectors — during the country’s peak summer heat, where temperatures often exceed 50°C.

MoHRE added that its inspection teams will conduct unannounced field visits to monitor compliance at work sites and labour accommodations across the country.

The ministry is also conducting awareness campaigns to inform both employers and employees of the regulations and the health risks of working in extreme heat.

Read: Summer skincare, nutrition: What the experts advise

Penalties for violators of midday work ban

Violators of the Midday Work Ban face fines of Dhs5,000 per worker found working during the restricted hours, up to a maximum of Dhs50,000, and may risk suspension of the establishment’s classification or operational permits.

The ministry also encourages the public to report violations through its call centre (600590000), website, or smart app.

Measures to be undertaken for workers

Employers are obligated to provide shaded rest areas, cooling systems, drinking water, electrolytes, and first-aid kits.

Exceptions to the ban are made only for urgent tasks, such as infrastructure repairs, which must be reported in advance and compensated with alternative rest periods.

The initiative supports the UAE’s “We the UAE 2031” vision, fostering a resilient and inclusive workforce.

The country hosts over 200 nationalities, making the safety and dignity of all workers a national priority.

UAE economy hits Dhs1.776tn as non-oil sectors drive growth

Non-oil sectors accounted for 75.5 per cent of the UAE’s GDP by the end of 2024—an outcome the minister attributes to strong leadership

GULF BUSINSS
GULF BUSINSS

15 June, 2025

UAE economy hits Dhs1.776tn as non-oil sectors drive growth

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The UAE’s real gross domestic product (GDP) reached Dhs1.776tn in 2024, marking a 4 per cent increase from the previous year, according to the Federal Competitiveness and Statistics Centre (FCSC). Non-oil GDP expanded by 5 per cent, totaling Dhs1.342tn, while oil-related activities contributed Dhs434bn to the overall economy, a WAM report said.

Read-Non-oil sector now makes up nearly 75% of UAE’s economy

Minister of Economy Abdulla bin Touq Al Marri emphasised that the latest figures highlight renewed momentum and underline key milestones in the nation’s economic diversification efforts. “These indicators reflect the sustained success of the UAE’s economic strategies,” Al Marri said. “They demonstrate our transition toward an innovative, knowledge-based, and sustainable economic model in line with global trends and emerging technologies.”

Non-oil sectors accounted for 75.5 per cent of the UAE’s GDP by the end of 2024—an outcome the minister attributes to strong leadership and effective policy implementation. He affirmed that these results align with the broader goals of the ‘We the UAE 2031’ vision, which aims to raise the national GDP to Dhs3tn within the next decade.

Diversification strategy driving growth

Hanan Mansour Ahli, Managing Director of the FCSC, echoed the sentiment, calling the 4 per cent GDP growth “a reflection of exceptional economic performance” and proof of the UAE’s commitment to a sustainable, non-oil-driven growth model.

“The leadership’s forward-looking approach prioritizes economic diversification not just as a strategic goal but as a central operational principle,” she said. Ahli added that this model enhances national competitiveness and social well-being, while ensuring consistent progress across development indicators.

This approach has translated into notable sectoral growth across the economy. The transport and storage sector emerged as the fastest-growing contributor to GDP in 2024, posting a 9.6 per cent year-over-year increase. This surge was largely driven by record airport traffic, with UAE airports handling approximately 147.8 million passengers—an increase of nearly 10 per cent.

Sectoral Highlights: Transport, construction, and finance

The building and construction sector recorded an 8.4 per cent growth rate, buoyed by significant urban infrastructure investments. Financial and insurance activities also performed well, growing by 7 per cent, followed by the hospitality sector—hotels and restaurants—which expanded by 5.7 per cent. The real estate sector grew by 4.8 per cent.

Among non-oil sectors, trade remained the top contributor to GDP, accounting for 16.8 per cent, followed by manufacturing at 13.5 per cent, and financial and insurance services at 13.2 per cent. The construction sector contributed 11.7 per cent, while real estate activities represented 7.8 per cent of non-oil GDP.

As the UAE continues its shift toward a knowledge-driven and globally competitive economy, government officials remain confident that these figures demonstrate a robust foundation for future growth and long-term economic sustainability.

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