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Dubai’s AIR to go public in $1.75bn US SPAC merger

Dubai-based AIR said it generated $375m in revenue and $150m in adjusted earnings before interest, taxes, depreciation, and amortisation for its core products in 2024

Reuters
Reuters

10 November, 2025

Dubai’s AIR to go public in $1.75bn US SPAC merger
Image: Getty Images

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Dubai’s AIR, the owner of hookah brand Al Fakher, said on Friday it had agreed to go public in the US through a merger with blank-check firm Cantor Equity Partners III CAEP.O, in a deal valuing the combined company at $1.75bn.

The special purpose acquisition deal comes as this unconventional route to the public markets has regained popularity in the United States after years of subdued activity, following poor share performance and regulatory roadblocks.

A SPAC is a shell firm that raises money through an IPO to merge with a private business and take it public, offering companies an alternative route to the market bypassing the longer and costlier traditional IPO process.

Dubai-based AIR said it generated $375m in revenue and $150m in adjusted earnings before interest, taxes, depreciation, and amortisation for its core products in 2024.

It has eight production facilities across the United Arab Emirates, the European Union and third-party partners, supporting more than 90 markets globally with established distribution networks, the company said.

Al Fakher, its most valuable business, makes flavored hookah and had 14 million consumers worldwide as of 2024.

Hookah use has grown in the US in recent years as lounges and cafes offering flavored smoking become more common, frequented by younger consumers in urban areas.

While the product is often marketed as a social or cultural activity, US health agencies continue to warn that hookah smoke contains many of the same harmful chemicals found in cigarettes.

American financial services firm Cantor Fitzgerald is the backer of the SPAC taking AIR public.

A total of 116 SPACs have completed initial public offerings so far this year, according to SPAC Research, compared with 57 in 2024.

The companies expect the deal to close in the first half of 2026, after which the combined entity, AIR Global Limited, will trade on the Nasdaq under the “AIIR” ticker symbol.

Dubai Metro Blue Line: What you need to know as the 2029 launch nears

More than 500 engineers and experts, supported by 3,000 workers across 12 sites, are working to deliver this world-class transit link

Nida Sohail
Nida Sohail

10 November, 2025

Dubai Metro Blue Line: What you need to know as the 2029 launch nears
Image credit: Dubai Media Office/X account

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Dubai’s Roads and Transport Authority (RTA) has achieved a major milestone in the development of the Dubai Metro Blue Line, with 10 per cent of the project’s construction now complete. The 30-kilometre metro extension, featuring 14 stations, reached this mark just five months after its groundbreaking ceremony in June 2025.

More than 500 engineers and experts, supported by 3,000 workers across 12 sites, are working to deliver what RTA describes as a world-class transit link connecting the emirate’s key residential, academic, economic, and tourism zones, a Dubai Media Office report said.

Mattar Al Tayer, director general and chairman of the Board of Executive Directors of RTA, confirmed that construction is progressing on schedule. The authority expects 30 per cent completion by the end of 2026 and has targeted September 9, 2029 for the official opening of the line, according to a Dubai Media Office report.

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Read more-Dubai Metro Blue Line: How will it change commuting in the city

Al Tayer highlighted the project’s strategic significance within Dubai’s long-term urban and economic vision.

“The Dubai Metro Blue Line is one of RTA’s most strategic projects. The line connects the Red and Green Lines and serves districts expected to house nearly one million residents by 2040,” he said.

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The Blue Line will also enable direct journeys between Dubai International Airport and major urban areas in just 20 minutes.

The project directly supports the Dubai Urban Plan 2040, linking the city’s fifth urban centre to the metro network, enhancing accessibility and reinforcing the “20-minute city” concept, allowing residents and visitors to access over 80 per cent of essential services within 20 minutes of travel.

Economic and social impact

According to RTA estimates, the total economic benefits of the Blue Line are projected to exceed Dhs56.5bn by 2040, driven by savings in time, fuel, and accident-related fatalities. The project is also expected to raise land and property values by up to 25 per cent around metro stations and reduce traffic congestion by 20 per cent along the serviced corridors.

Al Tayer added that the project aligns closely with Transit-Oriented Development (TOD) principles and Dubai’s Economic Agenda (D33), both designed to drive sustainable urban growth and economic competitiveness.

Commitment to safety and quality

RTA has underscored its commitment to the highest occupational safety and construction quality standards. The project’s consortium, including global experts and Emirati engineers, has so far completed over three million work hours without recording a single fatality.

“This reflects RTA’s strict adherence to world-class safety practices, robust field supervision systems, and integrated project management frameworks,” Al Tayer said.

Currently, construction activity is spread across 12 major work sites. The overall project progress, now at 10 per cent, demonstrates consistent advancement in line with planned schedules.

To maintain the city’s traffic flow, RTA has implemented 11 traffic diversions so far, with more than 10 additional diversions planned in upcoming phases.

Engineering teams have completed over 260 deep foundations and begun excavation work exceeding 400,000 cubic metres at key sites, including International City (1), (2), and (3). Several columns have already been erected at the Dubai Academic City station, and retaining walls are now taking shape at underground stations such as International City (1).

“These milestones allow us to expand excavation and accelerate progress in subsequent construction stages,” Al Tayer explained.

In a bid to maintain strict control over construction quality and logistics, the project consortium has established two ready-mix concrete plants and two precast element yards in Al Ruwayyah 3 and International City.

This proactive approach enables RTA to manage quality, streamline material supply chains, and shorten overall construction timelines. “It reflects our strategy of maintaining direct oversight and efficiency in every phase of the project,” Al Tayer said.

Boosting connectivity and quality of life

The Dubai Metro Blue Line aims to significantly expand the city’s public transport capacity while reducing reliance on private vehicles. By linking key business, residential, and educational hubs, it will improve overall urban mobility and environmental sustainability.

The line will extend in two directions:

  • The first route, spanning 21 kilometres, begins at Creek Interchange Station on the Green Line in Al Jaddaf and passes through Dubai Festival City, Dubai Creek Harbour, and Ras Al Khor Industrial Area before reaching International City (1). From there, it continues through International City (2) and (3), Dubai Silicon Oasis, and terminates at Dubai Academic City. This segment includes 10 stations, one of which, International City (1), will serve as an underground interchange.
  • The second route, stretching 9 kilometres, starts at Centrepoint Interchange Station on the Red Line in Al Rashidiya and passes through Mirdif and Al Warqa before linking to International City (1). It includes four stations.

The project also features the development of a depot and maintenance facility in Al Ruwayyah 3 to support operations and rolling stock maintenance.

Emaar Station: A new architectural icon

Among the project’s standout features is the Emaar Station, which will become the world’s highest metro station at 74 metres tall and 38 metres wide. Covering 11,000 square metres, it is designed to handle 240,000 passengers per day by 2040, with initial daily ridership expected to exceed 70,000.

Serving the 40,000 residents of Dubai Creek Harbour, the station’s striking architecture blends futuristic design with environmental harmony. Its expansive façade allows natural light to illuminate platform levels during the day, while at night, a bespoke lighting design transforms it into a glowing landmark visible across the skyline.

“The Emaar Station will stand as a luminous beacon, an architectural statement symbolising Dubai’s dynamic growth and commitment to smart mobility,” said Al Tayer.

Community engagement and transparency

In keeping with its philosophy of public engagement and transparency, RTA has rolled out a proactive communication strategy to keep residents informed about construction progress, road diversions, and milestones.

Dedicated teams are conducting field surveys and awareness campaigns across neighbourhoods near the Blue Line’s alignment. The initiative aims to build trust and provide real-time updates through digital platforms, local media, and social channels.

To ensure consistent dialogue, RTA has launched a Customer Council programme, organising regular community gatherings in affected areas to address feedback and questions. The first such session was held in October, covering Mirdif and Al Warqa, where residents were briefed on upcoming construction activities and traffic management plans.

The communication plan underscores RTA’s emphasis on maintaining a strong connection with the public while implementing one of Dubai’s most ambitious infrastructure projects.

As work accelerates across multiple sites, the Dubai Metro Blue Line stands as a flagship infrastructure project aligned with Dubai’s broader 2040 development blueprint.

It embodies the city’s ambition to expand sustainable mobility, boost economic efficiency, and improve overall quality of life for residents and visitors alike. When completed in 2029, the Blue Line will not only enhance connectivity between the city’s major economic zones but also strengthen Dubai’s reputation as a global model for integrated, future-ready transport systems.

Insights: Embracing the full potential of the AI-powered supply chain

In a region like the UAE, where logistics and transport have been named top-priority sectors for AI adoption by both government and industry stakeholders, building AI resilience into supply chains is especially critical, says Bowes

Simon Bowes
Simon Bowes

10 November, 2025

Insights: Embracing the full potential of the AI-powered supply chain
Image: Supplied

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Artificial Intelligence (AI) has emerged as a transformative force that is revolutionising the way supply chains operate. In the UAE, this transformation is particularly pronounced, with the country aiming to become a global leader in AI by 2031.

These ambitions are reinforced by the UAE’s AI market, which is projected to grow at a CAGR of 43.9 per cent from 2024 through 2030 to reach $46.33bn by the end of the decade.

Yet, until now, AI has primarily been used to improve the accuracy of demand forecasting. But this is just the starting point. As the adoption of AI and machine learning (ML) models becomes more widespread, new applications are emerging; enabling organisations to engage in next-generation demand planning practices that can truly elevate how they operate.

Supply chain disruptions remain the single most challenging issue impacting the operations of organisations today. Given the complexity of modern marketplaces, manual scenario planning is a tedious and time-consuming task that often results in suboptimal decisions.

In a region like the UAE, where logistics and transport have been named top-priority sectors for AI adoption by both government and industry stakeholders, building AI resilience into supply chains is especially critical. Why? With so many data points and potential variables to consider, planners can easily overlook the key influencing factors that matter the most when forecast accuracy is a concern.

For example, Middle East-based planners often face high volatility during global events like Ramadan or geopolitical shifts. AI tools allow for dynamic re-planning that accounts for local nuances and seasonal consumer behaviours.

Far faster and more accurate than manual methods, today’s ML models are capable of both autonomously and dynamically configuring the best combination of variables to use in demand models. Powered by deep meta learning, these models enable planners to capture the complete value of unlimited data and unlock the speed of integrated ML.

Alongside eliminating guesswork and human bias from the process, this algorithmic approach ensures that variables can be rapidly reconfigured as market and business realities change.

Unlocking improved productivity and performance

Innovations such as generative AI now deliver fast access to data driven insights, as well as assisted decision-making and process automation. All of which dramatically improves the productivity and performance of planning teams.

A 2024 KPMG report found that 96 per cent of UAE tech leaders plan to increase investments in AI and cloud in the next 12 months, and 100 per cent say data analytics is essential for staying competitive.

This is because these generative AI models enable planners to ask clarifying questions, request data, visualise influencing factors and assess the effectiveness of past decisions. They can also be trained on enterprise standard operating procedures, business processes and workflows to provide highly contextualised and relevant responses to planner queries. There is no longer any need for planners to dig through multiple text-based resources to find answers to basic queries.

This capability for swift, data-driven decision-making is reinforced by insights from the Supply Chain Compass Report.

The survey polled nearly 700 global supply chain leaders, with 74 per cent of this group affirming that AI is already significantly transforming their operations and further validating why investing in AI-driven productivity tools is essential for maintaining competitive advantage.

In essence, today’s AI-based training programmes can significantly reduce the time and effort required to cross-train planners and onboard new hires – something that will significantly benefit organisations as they look to prepare the next generation of demand planners.

Read: How artificial intelligence is helping deliver smarter supply chains

Gaining the competitive edge

As we’ve seen, recent AI developments are enabling companies to go beyond improving their forecasting accuracy to initiate agile and responsive supply chains capable of meeting the demands of today’s modern and extremely active marketplaces. This is especially relevant in the Middle East, given the investments being made to accelerate AI adoption.

With large-scale government initiatives such as MGX Fund Management (a $100bn AI-focused investment fund) and the NextGen FDI programme, the UAE is creating fertile ground for AI-driven innovation in logistics and supply chain.

This commitment is further demonstrated by the launch of the 5GW AI campus in Abu Dhabi, the largest such facility outside the US. Developed by G42, in partnership with US hyperscalers and approved cloud service providers, it provides advanced compute infrastructure to support regional and global AI application.

By giving demand planners the integrated demand and supply planning (IDSP) capabilities they need to model and optimise a 360-degree planning view in seconds rather than days, companies are now able to rapidly capitalise on new opportunities and resolve disruptions before cost and service outcomes are affected.

The UAE has also signalled its intent to secure large-scale AI compute resources – including an estimated 500,000 Nvidia AI chips annually as part of a broader effort to bolster sovereign data infrastructure and accelerate AI innovation. Echoing this strategic direction, the aforementioned highlights that 61 per cent of global supply chain leaders intend to invest between $1–$10m in supply chain technologies over the next five years, clearly demonstrating a widespread commitment to harnessing AI to build resilient, responsive, and agile supply chains.

Chain Compass Report highlights that 61 per cent of global supply chain leaders intend to invest between $1–$10m in supply chain technologies over the next five years, clearly demonstrating a widespread commitment to harnessing AI to build resilient, responsive, and agile supply chains.

AI developments for supply chain are especially well-timed given this acceleration. And for organisations that want to not only thrive but also distinguish themselves in today’s ever-evolving global commerce landscape, harnessing AI in the supply chain is fast becoming a necessity rather than a nice-to-have.

The writer is the CVP Manufacturing Industry Strategy EMEA at Blue Yonder.

Sitecore’s Suliman Gaouda on shaping personalised digital experiences in the region

The regional VP, MEA, Sitecore Middle East, shares how the composable, cloud-native platform is helping Middle Eastern organisations deliver secure, personalised, and efficient digital experiences

Neesha Salian
Neesha Salian

10 November, 2025

Sitecore’s Suliman Gaouda on shaping personalised digital experiences in the region
Image: Supplied

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From government portals to banks and tourism brands, Sitecore is enabling enterprises to unify content, data and customer interactions while reducing campaign cycles and driving measurable business impact.

Here, Suliman Gaouda, regional VP, MEA, Sitecore Middle East, shares how the composable, cloud-native platform is helping Middle Eastern organisations deliver secure, personalised, and efficient digital experiences.

What key trends do you see shaping the future of digital experience management globally and in the Middle East?

The future of digital experience management is being defined by diversification of channels and by customers’ expectations for seamless, context‑aware interactions. In the Middle East, brands are experimenting with real‑time personalisation not just in marketing but in core services: airlines offer dynamic upgrade pricing on their apps, quick‑service restaurants customise every order through digital kiosks, and government portals add recommended services based on an individual’s profile.

Citizens and consumers no longer want to browse endless pages; they want to ask a question and receive a direct, relevant answer. This expectation extends beyond screens. Wearable devices and augmented‑reality headsets are moving from novelty to mainstream, promising to blur the line between physical and digital experiences. As these channels proliferate, companies need to ensure that their content and services are compatible and trustworthy across every touchpoint.

Successful organisations will focus on three priorities: delivering consistent experiences wherever customers choose to engage; maintaining content governance and compliance despite the increased complexity; and building flexible systems that can plug into new technologies as they emerge. For Middle Eastern enterprises, these trends are amplified by an appetite to lead in innovation.

Countries in the region invest heavily in digital infrastructure and encourage businesses to test and scale new ideas. The result is a dynamic landscape where the brands that combine agility with disciplined governance will define the next chapter of customer experience.

What did Sitecore showcase at GITEX GLOBAL this year, and how did it align with the growing demand for personalised digital experiences in the region?

At GITEX GLOBAL 2025, Sitecore showcased how its composable digital experience platform enables organisations to deliver more personalized, secure, and efficient customer journeys. The exhibit featured an immersive experience that demonstrated how brands could unify content, data, and customer interactions across multiple touchpoints through a single, integrated platform.

Visitors explored real-world examples from government entities, financial institutions, and tourism organisations that had used Sitecore to enhance service delivery and engagement. One highlight was a conversational, search-based experience inspired by how public-sector clients help residents and newcomers access information through natural, dialogue-driven interfaces.

Sitecore also presented its flagship solutions, including XM Cloud and Content Hub, which simplified content management, accelerated campaign creation, and ensured brand consistency across markets. These technologies have helped enterprises across the region reduce campaign cycles from months to weeks while maintaining strong governance and compliance. In line with the ambitions of UAE Vision 2031 and Saudi Vision 2030, Sitecore’s participation underscored its commitment to supporting citizen-centric innovation and empowering organisations to meet rising expectations for personalisation, agility, and trust turning national digital strategies into measurable business outcomes.

How is Sitecore evolving its core strategy as brands move toward composable and modern digital experience platforms?

Sitecore’s strategy has shifted from monolithic solutions to a fully composable, cloud-native approach. In 2021, the company embraced the philosophy of building digital experiences from modular components rather than delivering a single, one-size-fits-all suite. By leaving the Mac alliance and championing composability, Sitecore signalled its commitment to giving customers flexibility.

Today, brands can adopt each element of the platform such as content management, digital asset management, analytics, personalisation, search individually or together, adding pieces as their capabilities mature. The order of adoption is guided not by product features but by a clear view of the experience they want to create for their customers.

Sitecore’s teams encourage clients to start with the desired response time or engagement quality and then design an architecture underneath that can meet those expectations. This “experience first” mindset is particularly relevant for Middle East organizations modernizing legacy technology. Many firms have spent years on ERP and infrastructure upgrades only to find their marketing tools outdated by the time they reach the customer-facing layer.

By starting with the desired customer journey and working backward to the technical stack, Sitecore helps brands avoid obsolescence. This strategy also encourages repeat visits and incremental revenue because each piece of the architecture whether used for content, data, or commerce can be reassembled into new use cases without needing additional licenses.

Which industries or markets are showing the strongest adoption of Sitecore solutions, and what’s driving that momentum?

Sitecore’s strongest traction in the Middle East has come from three sectors: financial services and insurance, travel and hospitality, and the public sector. Collectively, these categories account for more than 60 per cent of regional revenue. Banks and insurers have adopted the platform to build unified customer profiles and deliver personalised experiences that drive loyalty and cross‑sell growth. Airlines, hotels, and tourism boards use Sitecore to create multilingual journeys, manage offers dynamically, and address travellers from across the globe, fitting for a region investing heavily in tourism infrastructure.

Government departments, meanwhile, rely on Sitecore to power citizen portals and integrate disparate services into a seamless, self-service experience for residents and visitors. Beyond these core sectors, Sitecore is gaining momentum in healthcare, retail, manufacturing, logistics, and energy. In each case, the motivation is similar: organisations are seeking to cut through siloed processes and deliver consistent, memorable experiences that deliver measurable returns. The platform’s composable architecture allows businesses to adopt the capabilities they need, content management, unified data, personalisation, commerce, without being tied to a monolithic system.

Companies can adopt technology at their own pace, experiment with new journeys, and measure results before expanding into new markets. In effect, the platform’s flexibility and proven ROI are driving adoption across industries that recognize customer experience as a strategic differentiator.

How is Sitecore enhancing its product ecosystem to support enterprise content creation, personalisation, and analytics?

Sitecore’s product ecosystem focuses on making enterprise content creation and campaign management faster, more reliable and governed. At the core is Content Hub, a central repository where companies can store, manage and distribute thousands of digital assets while preserving brand consistency.

Marketing teams no longer have to hunt through disparate systems for the right image, video or copy; Content Hub tags each asset with rights and usage information, allowing users to find and reuse the materials instantly. Building on this, Sitecore introduced Stream, a capability co‑developed with key partners and large customers. Stream orchestrates the entire campaign workflow, from drafting a brief, to generating assets, to approving and distributing content across channels, reducing campaign cycles from three months to three weeks. It acts as a traffic controller, pushing work to the right team members, preventing bottlenecks, and ensuring that no step in the content lifecycle is missed.

Another core strength is the platform’s ability to unify customer data and deliver context‑based messages across websites, apps and digital touchpoints. Marketers can see which content performs best and where customers drop off, then adjust their strategies in real time. In short, Sitecore brings together content, data and analytics in a single environment.

This helps enterprises comply with brand policies, reduce manual effort, and turn complex campaign processes into streamlined operations that deliver measurable results.

How is Sitecore strengthening its presence and partnerships across the GCC as digital transformation accelerates?

Sitecore continues to invest in deep regional partnerships that strengthen its footprint across the GCC. The company collaborates with global leaders such as Microsoft and regional innovators like Core42 and Omnia Globant to deliver secure, compliant, and scalable digital experience solutions. We also work closely with sovereign cloud providers to ensure that customers can host their data and applications within national borders, a priority for many public‑sector clients.

Beyond technology, Sitecore invests in joint training programmes, workshops, and innovation labs with its partners, helping them tailor the platform for specific industries, such as banking, hospitality, and government, and allow them to co‑create solutions that address regional challenges. For example, in Saudi Arabia, collaboration with a sports and entertainment specialist has led to new digital services around major events.

In the UAE, Sitecore partners with consultancies to help clients design unified digital journeys for citizens and customers alike.

Many organisations say they’re “digitally transformed.” What does real impact look like, and how should leaders measure success beyond just adopting new tools?

When organisations claim to be “digitally transformed,” the only meaningful test is whether transformation delivers tangible outcomes. In practice, that means faster go‑to‑market cycles, higher conversion rates, increased repeat business, and operational efficiencies that save costs. For example, the customers that inspired Sitecore’s Stream capability reduced campaign production times from three months to a few weeks and saw immediate revenue gains.

Likewise, banks and insurers using Sitecore’s Customer Data Platform have increased cross‑sell success by unifying customer profiles and tailoring offers in real time. These are the kinds of metrics leaders should track: repeat visitors, incremental revenue, lower content‑production costs, and shorter time to launch new services. It’s also essential to recognise that digital transformation isn’t a destination but a journey.

Technology and customer expectations evolve quickly. Many companies in the region have spent years updating core systems only to find that by the time they reach the marketing layer, their tools are already outdated.

Sitecore encourages leaders to continuously refine their approach: start with a clear vision of the experience they want to deliver, pilot specific use cases, measure results rigorously, and then scale what works. In a region guided by forward-thinking national visions, digital transformation is not a milestone but a mindset, one that blends innovation with measurable, sustainable business impact

New J.P. Morgan report shows what world’s wealthiest really value now

A new J.P. Morgan report finds that 90 per cent of the world’s richest families now define true wealth as time, health, and relationships, marking a clear shift from financial accumulation to purposeful living

Gulf Business
Gulf Business

09 November, 2025

New J.P. Morgan report shows what world’s wealthiest really value now
Image: Getty Images/ For illustrative purposes

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The world’s wealthiest families are rethinking what it means to be rich, with 90 per cent defining true wealth as time, health, and relationships rather than money, according to J.P. Morgan’s 2025 Principal Discussions Report released last week.

The report, produced by J.P. Morgan’s 23 Wall Team, draws insights from 111 billionaire principals across 28 countries and more than 15 industries. It highlights a shift in values among global family offices, with nearly 85 per cent of respondents saying success is defined by helping others and leading with values.

“We are honoured to serve these families and learn from their experiences,” said Andrew L. Cohen, executive chairman, Global Private Bank. “Their openness and candour offer invaluable lessons for anyone seeking to build enduring wealth with lasting impact.”

A broader definition of prosperity

The report finds that for many principals, financial capital is only one element of enduring wealth. Over 90 per cent of participants said that time, health, and relationships are the real measures of prosperity, while nearly 85 per cent view leadership and the ability to uplift others as key to success.

“Principals remind us that prosperity is about much more than financial capital,” said Cohen. “Their perspectives challenge us all to rethink what it means to build enduring wealth, placing purpose, connection, and stewardship at the very heart of their journey.”

Geopolitical and technological risks

Geopolitical tensions remain the most significant concern, cited by 63 per cent of respondents as the top global risk. Other challenges include market volatility, climate change, and the disruptive potential of artificial intelligence.

AI adoption is widespread among wealthy families, with 79 per cent using it in personal life—such as research, travel planning, and creative projects—and 69 per cent employing it in business for data analysis and operational efficiency. Several principals noted measurable cost savings, including the use of AI-generated reports to reduce legal research expenses.

While AI is seen as a tool to enhance decision-making, many principals emphasise the continued importance of human judgment. “AI is opening new doors for families and their enterprises, but true success lies in balancing innovation with discernment,” Cohen said. “Technology is a powerful enabler, yet it’s human values and judgment that create lasting impact.”

Investing with passion and purpose

Investment strategies among the world’s wealthiest families are evolving, with 75 per cent diversifying globally and showing growing interest in private and specialty assets. Sports teams are now included in 34 per cent of portfolios, followed by art (23 per cent) and cars (10 per cent).

These investments are increasingly tied to personal passion and community engagement. “Ownership has evolved from a hobby into a sophisticated business and a unifying force for families, offering both financial returns and opportunities for community impact,” Cohen said.

Luxury collectibles are also being used more strategically, sometimes as collateral to meet liquidity needs, reflecting a pragmatic shift in how ultra-wealthy families manage their assets.

Philanthropy and the next generation

Philanthropy remains a central pillar of wealth stewardship. Over 70 per cent of surveyed families maintain a dedicated philanthropy team to ensure lasting impact. Many principals view giving as a way to unite family members and pass down values. “When I think about my legacy, I think about giving back,” one principal said.

“The most enduring families lead with purpose and principle,” Cohen added. “They know real wealth is found in the values they pass on and the impact they make.”

J.P. Morgan report: Regional insights and future outlook

Natacha Minniti, head of 23 Wall International and global co-head of Family Office Practice at J.P. Morgan Private Bank, said the study shows a balance between entrepreneurship and stewardship.

“Across EMEA, principals are redefining what it means to be leaders,” Minniti said. “Of those surveyed, 63 per cent are dedicated stewards of multi-generational legacies, while 37 per cent are self-made business owners. This unique combination fuels a forward-thinking mindset: 74 per cent are embracing AI, not just to boost efficiency, but to spark change in their businesses and personal lives.”

However, 68 per cent of participants still identify geopolitical tensions as their greatest risk. “In response, families are doubling down on structured, diversified strategies to protect and grow their wealth,” Minniti added. “In this climate, adaptability and entrepreneurship are essential for sustaining legacy and capturing new opportunities.”

The 2025 Principal Discussions Report underscores that for the world’s wealthiest families, wealth is no longer defined only by accumulation, but by meaning, purpose, and long-term impact.

Dubai Yoga: DFC’s mega event to be held on Nov 30, get details

Participation is free, with dedicated zones for families, People of Determination, and participants at all experience levels

Neesha Salian
Neesha Salian

07 November, 2025

Dubai Yoga: DFC’s mega event to be held on Nov 30, get details
Image: Supplied

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Registrations opened Tuesday for Dubai Yoga, the inaugural mass community yoga session and a new flagship event of the Dubai Fitness Challenge (DFC), scheduled for November 30 at Zabeel Park.

The event will bring together thousands of participants of all ages and abilities for a sunset yoga session against the backdrop of the Dubai Frame, marking the final flagship event of the ninth edition of the citywide fitness initiative.

Participation is free, with dedicated zones for families, People of Determination, and participants at all experience levels.

“Dubai Fitness Challenge continues to evolve, inspiring millions to embrace fitness in new and innovative ways,” said Saeed Hareb, secretary general of Dubai Sports Council. “With Dubai Yoga, we are proud to offer an inclusive experience that reflects our city’s commitment to making health and wellbeing accessible for all.”

Ahmed Al Khaja, CEO of Dubai Festivals and Retail Establishment, added that the event “introduces a flagship experience that blends movement with mindfulness” and embodies the UAE’s “Year of Community”.

Dubai Yoga supported by DET and other bodies

Organised by the Dubai Department of Economy and Tourism and Dubai Sports Council, Dubai Yoga is supported by media partner Arabian Radio Network and government entities including Dubai Police, Dubai Health Authority, Ministry of Education, and Dubai Corporation for Ambulance Services.

The event is part of DFC 2025, which runs from November 1-30 and features a range of free sporting events, including Dubai Run, Dubai Ride, and Dubai Stand Up Paddle, as well as multiple Fitness Villages and Hubs across the city.

Registrations for Dubai Yoga are open at www.dubaiyoga.ae

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