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Dubai Investments partners with Angola’s sovereign wealth fund for real estate projects

The first phase will focus on the development of Cazanga Island within the Luanda Archipelago

Rajiv Pillai
Rajiv Pillai

02 September, 2025

Dubai Investments partners with Angola’s sovereign wealth fund for real estate projects
Luanda, Luanda Province, Angola/Image: Pexels

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Dubai Investments, a diversified investment company listed on the Dubai Financial Market (DFM), has signed a strategic agreement with Angola’s Sovereign Wealth Fund (FSDEA) to jointly develop large-scale real estate projects in Luanda Province.

The partnership marks a shared vision to drive a new cycle of investment in modern urbanisation and sustainable development across the Angolan capital. The first phase will focus on the development of Cazanga Island within the Luanda Archipelago, creating new opportunities for urban, residential, and tourism-led projects.

Khalid Bin Kalban, vice chairman and CEO of Dubai Investments, signed the agreement with Armando Manuel, chairman of the board of FSDEA, in the presence of Angola’s Secretary of State for Urban Planning, Manuel Canguezeze, who represented the Minister of Public Works and Urbanism.

Commenting on the deal, Khalid Bin Kalban said: “This is an important milestone for Dubai Investments as the Group expands its footprint internationally. Dubai Investments first entered the Angolan market with the development of DIP Angola, an integrated mixed-use hub inspired by the Group’s highly successful flagship development in the UAE. This agreement with FSDEA marks the Group’s second venture in the country and provides a strong platform to further extend Dubai Investments real estate expertise. With a 30-year legacy of delivering ambitious projects, the Group is proud to contribute to the development of modern, sustainable communities in Luanda and reinforce its commitment to supporting Angola’s urban development journey.”

Read: UAE, Angola sign CEPA to boost trade and investment

Armando Manuel, chairman of FSDEA, added: “The signing of this agreement strengthens the Sovereign Wealth Fund’s commitment to mobilizing international capital and know-how for the development of high-impact real estate and tourism projects in the country. We believe that the real estate sector, combined with tourism, has tremendous potential to transform the urban profile of our capital, enhancing its natural resources, coastline, and rich cultural heritage.”

Angola’s Secretary of State for Urban Planning, Manuel Canguezeze, said: “This agreement is very important as it will add value to the area and bring architectural and scenic quality to the capital city. It will also bring real estate investment that will improve the quality of properties that the city of Luanda needs.”

As part of the agreement, FSDEA will participate through a special purpose vehicle holding land rights for designated areas. Dubai Investments will contribute its development expertise to transform these sites into modern, sustainable communities, unlocking value for Angola’s urban growth and tourism potential.

The partnership highlights Dubai Investments’ growing global presence and reflects the UAE’s broader vision of strengthening cross-border partnerships that drive sustainable growth, investment diversification, and urban innovation.

Global air passenger demand rises 4 per cent in July – IATA

Middle Eastern carriers saw a 5.3 per cent year-on-year increase in demand. Capacity rose by 5.6 per cent year-on-year, and the load factor was 84.1 per cent

Gulf Business
Gulf Business

02 September, 2025

Global air passenger demand rises 4 per cent in July – IATA
Image: Getty Images/ For illustrative purposes

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Global passenger demand grew 4 per cent in July compared to the same month last year, driven by stronger international traffic, the International Air Transport Association (IATA) said on Sunday.

Total demand, measured in revenue passenger kilometers (RPK), rose 4.0 per cent year-on-year, while total capacity expanded 4.4 per cent. The global load factor slipped 0.4 percentage points to 85.5 per cent.

International demand increased 5.3 per cent compared to July 2024, outpacing domestic growth of 1.9 per cent.

Globally, International capacity grew in July: IATA data shows

International capacity was up 5.8 per cent year-on-year with a load factor of 85.6 per cent, while domestic capacity rose 2.4 per cent with a load factor of 85.2 per cent.

IATA said growth in international RPK was recorded across all regions except Africa, while Brazil remained the strongest domestic market. Japan’s domestic load factor hit 81.4 per cent, a record high for July since at least 2000.

Middle Eastern carriers registered a 5.3 per cent increase in demand, with capacity up 5.6 per cent and load factors easing to 84.1 per cent, down 0.2 percentage points. IATA said the rebound followed disruptions from the military conflict in June.

“It’s been a good northern summer season for airlines. Momentum has grown over the peak season with July demand reaching 4 per cent growth. That trend appears across all regions and is particularly evident for international travel, which strengthened from 3.9 per cent growth in June to 5.3 per cent in July,” said Willie Walsh, IATA’s director general.

“With flight volumes showing a 2 per cent year-on-year increase for September after five months of decelerating growth, airlines are positioned to take advantage of this market momentum into the coming months,” he added.

Public transport updates: Dubai Metro lines rerouted, more public bus services

The new lines reduce travel time and make daily trips more efficient during peak periods

Neesha Salian
Neesha Salian

01 September, 2025

Public transport updates: Dubai Metro lines rerouted, more public bus services
Images: Dubai Media Office/ RTA

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RTA has announced that Dubai Metro will operate from Centrepoint Station to Life Pharmacy Station, Expo 2020 Station and back, and from Centrepoint Station to Al Fardan Exchange Station (Al Khail) and back during peak hours.

The new lines reduce travel time and make daily trips more efficient, RTA said on social media platform, X.

New signage at Metro stations

The RTA recently completed an upgrade of wayfinding signage across all Dubai Metro stations. The move aims to enhance the commuting experience, boost user satisfaction, and streamline daily travel across the Red and Green lines of the Metro, as well as the Dubai Tram.

View post on X

Read: New signs, smoother rides: RTA transforms Dubai Metro navigation

In other news, RTA also inaugurated five new public bus routes on August 29, as part of efforts to expand its network in line with population growth and urban expansion.

New RTA bus routes

Adel Shakri, director of Planning and Business Development at RTA’s Public Transport Agency, said the new services aim to provide faster and more convenient connections while strengthening integration with other modes such as the metro, tram and marine transport.

Among the additions, Route 31 will link Dubai Silicon Oasis with Dubai Outsource City, operating every 20 minutes during peak hours.

Two routes, 62A and 62B, will replace the existing Route 62, serving Al Qusais Metro Station and extending connections to Ras Al Khor’s Samari Residences, with 30-minute headways.

Route F26A will connect Onpassive Bus Station with Al Quoz Industrial Area 4, also at 30-minute intervals. Route X91 will provide an express link between Al Ghubaiba and Jebel Ali Bus Stations, bypassing Business Bay Metro Station.

At the same time, nine existing routes will be modified to improve efficiency. These include converting circular routes such as Route 7, Route 77 and Route F62 into two-directional services, shortening Route 91 to run only between Al Ghubaiba and Business Bay, and adjusting others such as Routes 21A, 21B, 50, X25 and J01.

In other news, the RTA reopened its Customer Happiness Centres in Umm Ramool and Al Barsha following comprehensive redevelopment to transform them into hybrid centres.

The initiative forms part of RTA’s integrated plan to expand digital service provision in line with the UAE Digital Government Strategy and Dubai Government’s “Services 360” vision.

The two centres now offer customers fully automated services through digital devices, alongside service advisors dedicated to specific beneficiary groups, thereby further enhancing customer happiness.

PRYPCO Blocks introduces UAE’s first upfront rental guarantee

The model allows investors to access immediate liquidity rather than waiting for monthly or quarterly payouts

Gulf Business
Gulf Business

01 September, 2025

PRYPCO Blocks introduces UAE’s first upfront rental guarantee
Image: Supplied

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PRYPCO Blocks, the Dubai-based fractional real estate ownership platform, has introduced the UAE’s first upfront rental guarantee for property investors, offering an annual return paid in advance.

For the first time in the country, fractional property investors will receive a 5 per cent annual net rental yield credited to their PRYPCO Blocks wallets within two months of investment, the company said on Monday.

The model, comparable to a landlord collecting a year’s rent in one cheque, allows investors to access immediate liquidity rather than waiting for monthly or quarterly payouts.

The firm said the initiative would help investors reinvest, diversify portfolios, and allocate capital more efficiently.

PRYPCO Blocks reduces platform entry fee

PRYPCO Blocks also announced a 33 per cent reduction in its platform entry fee, cutting charges from 1.5 to 1 per cent.

“PRYPCO Blocks was created to make real estate investment easier, faster, and more rewarding,” said Amira Sajwani, founder and CEO of PRYPCO. “With the upfront rental guarantee, we are setting a new benchmark by giving investors confidence, liquidity, and the ability to realise returns from day one. It’s investor-first, it’s innovative, and it aligns with our vision of enabling real estate freedom for all.”

The upfront guarantee is based on three principles, the company said: providing rental income within two months, combining the stability of real estate with faster returns, and encouraging reinvestment through upfront payouts.

PRYPCO Blocks said the initiative is part of its broader vision to lower barriers to property ownership and reshape real estate investing in the region.

Read: PRYPCO, Ovaluate’s launch new AI-powered instant valuation tool

PRYPCO Blocks operates as a property investment crowdfunding platform with a commercial licence regulated by the Dubai Financial Services Authority (DFSA). Its perations are subject to strict regulatory oversight and compliance with the DFSA’s regulations and guidelines.

Dock & Dine in Dubai: New initiative launches for yacht visitors

Dubai’s strategic location, combined with simplified entry procedures and tailored visa packages, also ensures a seamless arrival experience for foreign-flagged vessels, which can remain in Dubai waters for up to six months

Gulf Business
Gulf Business

01 September, 2025

Dock & Dine in Dubai: New initiative launches for yacht visitors
Image: Dubai Media Office

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In a strategic move to enhance short-stay yachting visits, further reinforce the city’s position as a global yachting destination, and put the city at the forefront of the global trend of seamless waterfront dining, the Dubai Maritime Authority (DMA) at the Ports, Customs and Free Zone Corporation and the Dubai Department of Economy and Tourism (DET) have launched an innovative Dock & Dine initiative.

Encompassing 20 of the top marinas and marine stations in the city, the initiative represents the most comprehensive marina dining concept in the region and directly advances the ambitious goals of the Dubai Economic Agenda, D33, to further consolidate Dubai’s position as a leading global destination for business and leisure.

Read: Dubai introduces new licence service for visiting boat owners

Curated selection

Dock & Dine is tailored for those seeking to dock for a short stay and enjoy the finest waterfront dining experiences, and enables yacht owners, crews, and guests to access a curated selection of restaurants, luxury hotels, cultural attractions and entertainment directly from the city’s marinas.

Guests can sail to different docks and restaurants, enjoying a diverse range of excellent cuisines served in beautiful settings – all within a convenient 45-minute to one-hour radius from each other.

Among the major benefits provided by the Dock & Dine initiative are free moorage at participating marinas and marine stations; a rapid booking response time with a reservation window of just five minutes to one hour; direct communication with restaurants for advanced table arrangements; and dedicated dock tenders to facilitate smooth drop-off and pick-up processes.

With the streamlining of regulations, a standardised process has been rolled out citywide, ensuring a consistent and hassle-free experience for both yacht visitors and marina operators.

Sheikh Dr Saeed bin Ahmed bin Khalifa Al Maktoum, CEO of the Dubai Maritime Authority, said: “The Dock & Dine initiative represents the forward-thinking approach that has defined Dubai’s maritime development. With strong guidance from our visionary leadership and a spirit of close cooperation between government and industry partners, we have harmonised marina regulations and enhanced operational processes across the board.

“This not only improves the arrival experience for foreign-flagged vessels but also ensures every yacht guest enjoys streamlined access and world-class service. Working alongside the Dubai Department of Economy and Tourism (DET), we are proud to galvanise the yachting sector, support tourism growth, and contribute to Dubai’s dynamic economy. The Dock & Dine initiative reflects our commitment to exceptional service, safety, and innovation – key pillars that are essential in driving Dubai’s position as a global yachting and tourism destination.”

Vibrant calendar

By simplifying access to these amenities, the initiative enhances the yachting experience, particularly during the peak winter season from October to April, when Dubai’s tranquil waters, warm climate, and vibrant calendar of events attract a growing number of international visitors including those seeking unique culinary and maritime adventures.

With more than 4,000 berths across its extensive network of marinas and marine stations, Dubai is uniquely equipped to accommodate a diverse range of vessels, from pleasure craft to superyachts.

Issam Kazim, CEO of the Dubai Corporation for Tourism and Commerce Marketing (DCTCM), part of DET, said: “This initiative marks a pivotal moment in Dubai’s maritime journey and is a testament to visionary leadership that has transformed Dubai into a global yachting hub.

“By establishing convenient connections between our world-class marinas and dining experiences, we are enriching the wide-ranging value proposition that positions Dubai as the ideal base for international yacht tourism and a must-visit destination.

The programme also exemplifies our commitment to fostering partnerships with industry leaders like the Dubai Maritime Authority, further elevating the yachting experience. The continuous public-private sector collaboration is shaping a vibrant, sustainable yachting ecosystem that benefits residents and visitors, the environment, and our economy, aligning with the D33 agenda while advancing our ambition to make Dubai the world’s best city to visit, live, and work in.”

Read: Dubai now has two restaurants with 3 MICHELIN stars, see details

Marinas participating in the Dock & Dine initiative

The marinas participating in the Dock & Dine initiative include: Al Seef Marina, Bulgari Marina, Creek Marina Yacht Club, Dubai Islands Marina, Dubai Creek Marina, Dubai Harbour Marinas, Dubai Marina Yacht Club, Jebel Ali Marina, Jewel of the Creek Marina, Jumeirah 1 Marina, Mina Rashid Marina, Marasi Bay Marina, Marsa Al Arab Marina, Palm Azure Jetty, Palm East Vista Mare Jetty, Palm Jumeirah Marina, Palm West Club Jetty, Port De La Mer Marina, Umm Suqeim 1 Marina, and Umm Suqeim 2 Marina.

The launch of the initiative underlines the strong synergy between yachting and gastronomy sectors, allowing guests to disembark and enjoy signature waterfront dining experiences.

It comes amid increasing global recognition for Dubai’s vibrant food and beverage offerings, with the recently-announced fourth edition of the MICHELIN Guide Dubai featuring a total of 119 restaurants.

This unique concept highlights Dubai’s remarkable progress in developing a comprehensive nautical ecosystem, driven by close collaboration between the government and private sectors and sustained investment in state-of-the-art maritime infrastructure.

The city’s marinas offer advanced maintenance and repair facilities, marine services, specialty shops, and wellness centres, catering to the needs of yachting enthusiasts and industry professionals alike.

Dubai’s strategic location between East and West, combined with simplified entry procedures and tailored visa packages, also ensures a seamless arrival experience for foreign-flagged vessels, which can remain in Dubai waters for up to six months.

UAE cabinet reshuffle sees Ahmed Al Sayegh take health portfolio

AbdulRahman bin Mohamed Al Owais will continue in his role as Minister of State for Federal National Council Affairs

Gulf Business
Gulf Business

01 September, 2025

UAE cabinet reshuffle sees Ahmed Al Sayegh take health portfolio
Ahmed Al Sayegh/Image credit: MOFA website

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Under the directives of President Sheikh Mohamed bin Zayed Al Nahyan, Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has announced a cabinet reshuffle.

The reshuffle confirms Ahmed Al Sayegh as Minister of Health and Prevention, while AbdulRahman bin Mohamed Al Owais will continue in his role as Minister of State for Federal National Council Affairs.

Al Sayegh has served as Minister of State at the Ministry of Foreign Affairs since September 2018, leading the Ministry’s economic and commercial affairs portfolio with a focus on the UAE’s economic diversification strategy. He also managed bilateral relations with Asian nations and members of the Commonwealth of Independent States (CIS), strengthening strategic partnerships and expanding investment opportunities.

Read: Important information: UAE’s health ministry cuts services by half

Beyond his ministerial responsibilities, Al Sayegh is a member of the board of directors and executive committee at Abu Dhabi National Oil Company (ADNOC), a board member of the Abu Dhabi Fund for Development (ADFD), vice chairman of Emirates Nature–WWF, and co-chair of the UAE-UK Business Council.

His previous leadership roles span both public and private sectors, including chairman of Abu Dhabi Global Market (ADGM), chairman of Aldar Properties, chairman of Masdar, board member of Etihad Airways Group, board member of Mubadala Investment Company, and vice chairman of First Gulf Bank. He also held senior positions at ADNOC and the Abu Dhabi Investment Company.

Al Sayegh holds a Bachelor’s degree in Economics from Lewis & Clark College in the US.

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