Saudi Arabia has achieved a new milestone in entrepreneurship, with its capital, Riyadh, advancing 60 places over the past three years to rank 23rd among the top 100 emerging startup ecosystems globally. This achievement was featured in the Global Startup Ecosystem Report 2025, published by Startup Genome in partnership with the Global Entrepreneurship Network.
The country’s remarkable progress highlights its rapid development in the entrepreneurial landscape, particularly evident in strong venture capital indicators, advanced infrastructure, and increasing innovation and investment in emerging technologies, a Saudi Press Agency report said.
This success is largely driven by strong government support, notably from the Small and Medium Enterprises General Authority (Monsha’at), which plays a key role in building an integrated entrepreneurship environment through initiatives and programs that foster startup growth and expansion. Monsha’at also works to enhance the legislative and regulatory framework for entrepreneurs.
These efforts aim to increase the sector’s contribution to gross domestic product (GDP), aligning with the goals of Saudi Vision 2030.
High-impact sectors fuel growth
According to the report, Saudi Arabia recorded the second-highest performance in the Middle East and North Africa region. It ranked third in terms of funding volume and investment value relative to impact, and fourth in the availability of skills and expertise—further boosting its capacity to attract and retain entrepreneurial talent.
The report also highlighted several high-potential sectors contributing to this performance, notably artificial intelligence, FinTech, cybersecurity, smart cities, infrastructure, and digital health. These sectors form critical pillars in the country’s economic transformation strategy.
While Dubai and Abu Dhabi grab the headlines, Sharjah is quietly crafting a powerful growth story of its own.
In the first half of 2024, real estate transactions in the emirate jumped over 35 per cent year-on-year—a clear sign of rising investor confidence and renewed market momentum.
Analysts point to Sharjah’s improved regulatory frameworks as a key catalyst. These updates have helped boost investor trust, while the emirate’s high quality of life at more accessible price points has drawn in families and mid-tier buyers. It’s a mix that is turning heads.
“Sharjah’s real estate appeal stems from its strategic location, offering proximity to Dubai while maintaining a unique cultural identity. The emirate’s investor-friendly policies, including freehold ownership for expatriates and competitive pricing, make it an attractive destination for both residents and investors. Furthermore, Sharjah’s emphasis on cultural preservation, education, and family-centric developments enhances its desirability,” Issa Ataya, CEO of Alef, told Gulf Business.
Strategic, cultural, and cost advantage
Sharjah’s location — on Dubai’s doorstep — offers investors easy access to one of the world’s leading commercial centres, yet with real estate costs typically 30–50 per cent lower. It’s a value proposition that’s hard to ignore, especially when quality, infrastructure, and lifestyle are not compromised.
Culturally rich and education-focused, Sharjah continues to build liveable, well-planned communities. These attributes have cemented its appeal with families looking not just for a property, but for a long-term home.
April 2025 snapshot: Dhs4bn in deals
Momentum continues to build. In April 2025 alone, Sharjah saw 7,206 real estate transactions worth Dhs4bn, covering nearly 10.3 million square feet, according to the Sharjah Real Estate Registration Department.
The emirate’s real estate expansion is being driven by integrated reforms — supportive policies, flexible legislation, and master-planned developments that are attracting both domestic and foreign capital.
Image credit: Alef/Supplied
Notable deals include a Dhs115m transaction in Al Majaz 3. The spread of activity across 117 areas also signals a broadening market base and a sector increasingly aligned with investor needs.
Sharjah is no longer a quiet alternative. With a rising profile, strong fundamentals, and a pro-growth stance, it’s fast becoming a first-choice destination for savvy investors.
Alef: Redefining lifestyle development in Sharjah
Founded in 2013 by the late Sheikh Khalid Bin Sultan Al Qasimi, Alef is a privately held lifestyle developer with a sharp focus on shaping premium communities and experiences in Sharjah. With assets and land valued at Dhs12bn, the company is spearheading high-quality residential and mixed-use developments that merge business, leisure, and modern living.
Alef leverages Sharjah’s position as the gateway between Dubai and the Northern Emirates. Through partnerships and strategic investment, it is building a legacy rooted in innovation, excellence, and sustainable growth.
A vision beyond buildings
Alef’s philosophy is anchored in the ideals of its founder. Sheikh Khalid didn’t simply want to build; he aimed to transform how people experience real estate in Sharjah. His vision: communities designed with purpose, where lifestyle, sustainability, and innovation intersect to elevate everyday living.
That vision came to life in 2017 with the launch of Al Mamsha. More than a project, it marked a shift to human-centric living — prioritising people, connectivity, and community.
Today, the company remains committed to smart, sustainable urban planning. Every project is designed to be environmentally conscious and responsive to the evolving needs of UAE residents. From masterplans to amenities, Alef focuses on delivering balanced, future-ready lifestyles.
Its mission is clear: to honour Sheikh Khalid’s legacy by setting a new standard for living in Sharjah — driven by innovation, inclusivity, and progress.
Image credit: Alef/Supplied
A growing portfolio
Alef’s expansion is deeply linked to Sharjah’s evolving real estate landscape. By launching diverse communities — from the urban apartments of Al Mamsha and the new Olfah project to spacious villas in Hayyan — the developer caters to both lifestyle seekers and investors.
“Looking ahead, our expansion plans are set to extend beyond Sharjah’s central region. We are exploring opportunities along the emirate’s beachfront west and eastern corridors, aiming to introduce developments that blend modern living with natural beauty. Our commitment is to create integrated communities that not only offer quality living spaces but also enhance Sharjah’s position as a premier real estate destination,” Attaya told Gulf Business.
Sharjah’s broader strategy around infrastructure, urban planning, and affordable living has helped attract residents seeking long-term security and lifestyle balance — an environment in which Alef continues to thrive.
Sustainability and innovation in Alef projects
Sustainability is central to Alef’s development strategy. The company is committed to building communities that support environmental responsibility, improve resident well-being, and deliver long-term value.
At Olfah, sustainability is embedded in the design. The project incorporates eco-conscious infrastructure such as fully insulated buildings, double-glazed windows, and energy recovery ventilation systems to enhance energy efficiency and indoor air quality. Additional features include LED lighting, a greywater system for irrigating landscaped areas, and sustainable, interactive water elements. Residents also benefit from a Building Management System (BMS) that optimises energy use and operational efficiency.
Olfah reflects Alef’s vision of fusing luxury with nature. Spanning more than 84,000 square metres, it comprises twelve mid-rise buildings ranging from 9 to 11 storeys. Its centrepiece is Sharjah’s largest private community park — an elevated podium space covering over 26,000 square metres. The park offers uninterrupted views and a tranquil setting, with recreational zones, children’s play areas, an amphitheatre, BBQ spots, resort-style swimming pools, and wellness spaces. Ideally positioned, Olfah is just ten minutes from Sharjah International Airport and five minutes from major educational institutions, making it a strategic choice for families and professionals alike.
Sustainability also defines Al Mamsha, another flagship development by Alef. As Sharjah’s first fully walkable community, it eliminates the need for internal vehicular traffic, helping to reduce emissions while encouraging active, healthier lifestyles. The development integrates smart infrastructure, greywater recycling for landscaping, ventilated walkways that minimise heat build-up, and double-glazed façades that regulate indoor temperatures and cut energy consumption.
Alef’s approach goes beyond compliance — it’s about embedding sustainability into the fabric of modern living. Through thoughtful planning and design, it is redefining what responsible urban development looks like in Sharjah.
Beyond conventional sustainability
“In Hayyan, Alef goes beyond conventional sustainability efforts by encouraging self-sufficient, eco-friendly living. The community offers private allotments within villa plots for residents to practice organic farming, promoting sustainable agriculture at the community level. Smart home technologies are also integrated into the villas, allowing residents to manage energy consumption efficiently and enjoy enhanced comfort and security. The community’s expansive swimmable lagoon and green spaces further reinforce Alef’s vision of connecting people with nature in a sustainable, balanced lifestyle,” Ataya stated.
Hayyan is a major development being rolled out in phases. Three zones are currently under construction, with handovers expected to begin by late 2026. On-site progress has already advanced significantly.
Designed as a townhouse and villa project, Hayyan embodies Alef’s broader philosophy: lifestyle, retail, entertainment, and leisure must coexist within a single, integrated community.
A key highlight is the “farm-to-table” concept. Each resident receives a private allotment to grow their own organic produce — bringing sustainable agriculture into daily life. Together with its rich lifestyle amenities, Hayyan reflects a complete, community-first approach.
Application of best practices
Sustainability is embedded in every phase of Alef’s project cycle — from material sourcing to long-term community operations. Smart home systems are central to this strategy, helping homeowners reduce energy consumption and optimise efficiency.
The company also invests in advanced solutions for irrigation, water recycling, and emissions reduction. At Al Mamsha, Alef’s sustainability credentials are on full display. It’s Sharjah’s first fully walkable community — no internal vehicular traffic is allowed. Thirty-three buildings span the development, all interconnected by pedestrian pathways. The car-free design cuts emissions and enhances the liveability of the space.
Even building orientation plays a role. Alef carefully plans the position of structures to harness natural wind flow, reduce heat, and improve ventilation. The result: more comfortable outdoor spaces and an environment designed around human experience and environmental harmony.
Smart communities and urban vision
“Our commitment extends to integrating smart technologies that optimise energy efficiency, security, and convenience across our developments. By adhering to green building standards and minimising carbon footprints, we ensure our projects align with international sustainability benchmarks. These initiatives not only address current environmental challenges but also position Alef as a forward-thinking developer committed to long-term ecological responsibility,” Ataya added.
In Hayyan, Alef continues to push boundaries in mixed-use planning. The community will feature a clubhouse, mosque, and retail outlets— bringing essential services and social spaces together. These elements are designed to support daily living and create a sense of belonging, transforming Hayyan into a self-sustained, inclusive neighbourhood.
Meanwhile, Al Mamsha Hamsa brings a more urban, contemporary flavour. This development comprises three buildings and 420 residential units. With landscaped zones, swimming pools, and calming water features, Hamsa offers a tranquil setting with direct access to retail and lifestyle amenities. “Its proximity to key landmarks ensures convenience, catering to the needs of families, professionals, and discerning investors,” Ataya emphasised.
Alef’s market position and future plans
Alef is closely aligned with this vision. Its portfolio — spanning sleek apartments to spacious villas — caters to a wide spectrum of buyers. In 2024, the company reported Dhs2.4bn in sales, up 33 per cent year-on-year, securing over 25 per cent of Sharjah’s real estate market share.
At the ACRES 2025 exhibition, Alef signed 1,006 sales and purchase agreements worth Dhs1.37bn. The event also marked the official launch of Al Mamsha Hamsa, which received strong investor interest. The company also spotlighted Olfah and Hayyan — both praised for their design-led approach and lifestyle focus.
“This achievement at ACRES 2025 reflects the confidence that investors and residents place in Alef’s vision of redefining modern living. The launch of Al Mamsha Hamsa, alongside the sustained interest in Olfah and Hayyan, underscores our commitment to delivering sustainable and innovative developments that align with the aspirations of Sharjah’s residents and elevate the emirate’s real estate landscape,” Ataya commented.
Looking ahead: Sharjah and beyond
Alef is now preparing for expansion both within Sharjah and across the UAE. Plans include branded residences in partnership with global developers, aimed at raising the bar for luxury living.
The company is exploring beachfront developments along Sharjah’s western and eastern coasts. One of the upcoming projects will be on Maryam Island, expanding Alef’s footprint along the waterfront.
Two new projects are currently in the conceptual phase and are set to be unveiled later this year. While full details are under wraps, the direction is clear: Alef will continue building smart, resilient, and community-driven spaces.
Its ambitions mirror a broader shift in the UAE’s property landscape — where innovation, liveability, and long-term sustainability have become essential pillars, not just aspirational goals.
EDGNEX Data Centers by DAMAC, a global digital infrastructure company backed by Dubai-headquartered DAMAC Group, has announced the development of a next-generation, AI-powered data center in Jakarta, Indonesia – its second facility in the country and one of Southeast Asia’s largest AI-dedicated infrastructure projects.
The new facility will have a projected capacity of 144 megawatts (MW) and represents a total investment of $2.3bn.
Land acquisition was completed in March 2025, and the site has now entered early construction phases. Phase one of the project is expected to be ready for service by December 2026.
Designed to support high-density AI workloads, the Jakarta data centre aims to address Indonesia’s digital infrastructure gaps, including limited hyperscale readiness and rising latency challenges.
EDGNEX projects: Second in Indonesia
“This is our second project in Indonesia, and this development reinforces our commitment to bridging the digital divide in fast-growing markets across Southeast Asia,” said Hussain Sajwani, founder of DAMAC Group. “We are proud to build what will become one of Southeast Asia’s most advanced, sustainable data centers to power the next wave of innovation and digital growth. The scale of AI workloads demands a new class of infrastructure.”
The facility will target a power usage effectiveness (PUE) of 1.32, reflecting EDGNEX’s commitment to sustainability and energy efficiency.
The new development expands EDGNEX’s presence across Southeast Asia, including ongoing projects in Thailand and Malaysia.
This second Jakarta data centre follows the company’s 2024 announcement of its first Indonesian project — a 19.2 MW facility in the MT Haryono area, one of Jakarta’s most interconnected data centre clusters.
That site is scheduled to go live in Q3 2026, catering to growing demand from cloud service providers, edge computing platforms, and AI solutions.
To date, EDGNEX has committed over $3bn to digital infrastructure investments across Southeast Asia.
The company’s regional target is to reach over 300MW of operational capacity by 2026.
Saudi Arabia marks 40 years since Prince Sultan bin Salman’s historic space mission
The 40th anniversary serves as both a celebration of past achievement and a reaffirmation of the kingdom’s long-term vision for space exploration and technological progress
Saudi Arabia today commemorated the 40th anniversary of Prince Sultan bin Salman’s landmark journey aboard NASA’s Space Shuttle Discovery, a milestone that marked the first time an Arab, Muslim, and royal family member ventured into space.
On June 17, 1985, Prince Sultan, then a 28-year-old Royal Saudi Air Force pilot, joined the international crew of the STS-51-G mission as a payload specialist.
The seven-day mission saw the successful deployment of the Arabsat-1B satellite, a significant achievement for the Arab Satellite Communications Organization (ARABSAT) and the wider Arab world.
During the mission, which completed 111 orbits of Earth, Prince Sultan conducted scientific experiments, including studying the interaction of oil and water in microgravity, and became the first person to read the holy Qur’an in space — a moment that resonated deeply across the Muslim world.
“Prince Sultan’s mission was more than a historic achievement; it set the stage for what has become a shining example of what the future holds for the Arab world,” said Lisa La Bonte, CEO of TSEC and a pioneer in the MENA space education sector. “His legacy drives the kingdom’s — and the region’s — space ambitions, fostering innovation and supporting economic initiatives like Vision 2030.”
Prince Sultan’s achievement has become a symbol of Saudi Arabia’s commitment to scientific advancement and its leadership in the region’s emerging space sector. Often referred to as the first “najmonaut” (Arab astronaut), his legacy continues to inspire new generations of explorers and innovators.
“Seeing Earth from space gave me a new perspective on our shared humanity,” Prince Sultan reflected. “It’s a reminder that our ambitions must always serve the greater good, pushing technology and knowledge to improve life on our planet.”
The 40th anniversary serves as both a celebration of past achievement and a reaffirmation of the kingdom’s long-term vision for space exploration and technological progress.
Tensions across the Middle East have escalated sharply following Israeli military strikes on Iranian targets, prompting a widespread suspension of flights by major international and regional airlines.
The disruptions have affected travel to Iran, Iraq, Israel, Syria, Lebanon, and surrounding areas, stranding passengers and leading to logistical complications for carriers and governments alike.
In response to the conflict, US President Donald Trump departed the Group of Seven (G7) summit in Canada a day earlier than scheduled, citing developments in the Middle East.
According to a June 16 statement from the White House, the president left after a working dinner with other heads of state.
“Much was accomplished, but because of what’s going on in the Middle East, President Trump will be leaving tonight,” said White House Press Secretary Karoline Leavitt in a post on X, formerly Twitter.
Ceasefire proposal and diplomatic efforts
French President Emmanuel Macron revealed that Trump had extended an offer for a ceasefire between Israel and Iran. The US president had also issued a strong advisory for American citizens to evacuate Tehran, reiterating criticism that Iran had refused to sign a nuclear agreement with Washington.
Despite the uncertainty on the ground, diplomatic efforts are reportedly underway among Western allies and Gulf nations to de-escalate the conflict and restore stability in the region.
Airlines ground flights across the region
As the geopolitical situation deteriorated, airlines began cancelling flights across key Middle Eastern airports. Below is a summary of affected carriers and their revised operations as of June 17, 2025.
Qatar Airways
Qatar Airways has temporarily cancelled flights to and from Iran, Iraq, and Syria, citing safety concerns and regional instability. Affected airports include:
Affected passengers are being rebooked or rerouted, and the airline urged travelers to update contact details via the “Manage My Booking” section on etihad.com or contact its customer center at +971 600 555 666.
Additionally, passengers transiting through Sharjah or Abu Dhabi with final destinations in affected regions will not be accepted for travel.
Sales offices in Tehran, Mashhad, Shiraz, and Lar are temporarily closed, but staff remain reachable via duty mobile lines listed on the airline’s website.
Affected customers are being contacted directly. The airline emphasised that safety is its top priority and is closely monitoring the situation in cooperation with regional authorities.
Customer support is available at +968 2427 2222 or [email protected].
Aegean Airlines
Greek carrier Aegean Airlines has cancelled all flights to:
Tel Aviv: Until July 12
Beirut, Amman, and Erbil: Until June 28
airBaltic
Latvia’s airBaltic announced the cancellation of all flights to and from Tel Aviv until June 23.
Aeroflot
Russian flag carrier Aeroflot has suspended flights between Moscow and Tehran and rerouted other Middle East services in light of the strikes.
Air Europa
The Spanish airline has cancelled all flights to and from Tel Aviv until July 31.
Air France-KLM Group
Air France: Suspended flights to Tel Aviv indefinitely
KLM: Cancelled Tel Aviv flights until July 1 and warned of possible disruptions to Beirut routes
Transavia: Cancelled flights to Tel Aviv, Amman, and Beirut through June
Air India
India’s national carrier is rerouting or returning some flights due to safety concerns but has not announced full cancellations.
Arkia
Israeli airline Arkia has cancelled all flights through June 21.
Bluebird Airways
Greek carrier Bluebird Airways has suspended all Israel-bound flights between June 13 and June 21, with bookings paused through June 30 pending a reassessment of the security situation.
Delta Air Lines
The US airline reported potential disruptions to Tel Aviv routes from June 12 to August 31.
El Al Israel Airlines
El Al and its subsidiary Sundor have cancelled their entire flight schedules through June 19.
Emirates
The UAE’s flagship airline Emirates has temporarily suspended flights to:
Jordan and Lebanon: Until June 22
Iran and Iraq: Until June 30
flydubai
flydubai suspended flights to multiple destinations:
Jordan and Lebanon: Until June 16
Minsk and St. Petersburg: Until June 17
Iran, Iraq, Israel, and Syria: Until June 20
Israir
Israeli airline Israir has halted all operations until June 30.
ITA Airways
Italy’s ITA Airways extended its Tel Aviv flight suspension until July 31, including cancellations for August 1 departures.
Lufthansa Group
Germany’s Lufthansa has suspended all flights to:
Tel Aviv and Tehran: Until July 31
Amman, Erbil, and Beirut: Until June 20
The airline has also announced it will avoid Iranian, Iraqi, and Israeli airspace for the foreseeable future.
Pegasus Airlines
The Turkish carrier has cancelled flights:
To Iran: Until June 19
To Iraq and Jordan: Until June 16
Flights to Lebanon will only operate during daylight hours for safety reasons.
Ryanair
Ryanair has suspended all Tel Aviv services until September 30.
TAROM
Romania’s TAROM has suspended flights to:
Tel Aviv: Until June 23
Beirut and Amman: Until June 20
Turkish Airlines
Turkey’s transport minister confirmed that Turkish Airlines and other domestic carriers have cancelled all flights to:
Iran, Iraq, Syria, and Jordan: Until June 16
United Airlines
United Airlines warned travelers that flights to and from Tel Aviv may be affected from June 13 to August 1.
Wizz Air
The low-cost carrier Wizz Air has suspended operations to:
Tel Aviv and Amman: Until June 20
Uncertain future for regional air travel
The widespread suspension of flights underscores the far-reaching implications of the latest escalation between Israel and Iran. With no clear resolution in sight, airlines continue to monitor the situation closely, coordinating with aviation and security authorities while updating travelers on an ongoing basis.
Passengers with upcoming travel plans to or through the Middle East are strongly urged to consult their airline for the latest updates, rebooking options, or potential refunds. Safety advisories and diplomatic announcements are expected to shape travel policy over the coming weeks.
Amazon.com’s annual Prime Day sales event is scheduled for July 8 through July 11, expanding to four days from two days compared to last year, the company announced on Tuesday.
“We’re extending it to four days because our members have told us they just need more time to shop the deals,” Jamil Ghani, Amazon vice president of worldwide prime, told Reuters.
Amazon’s expanding Prime Day comes as US shoppers and retailers face uncertainty on how tariffs will impact prices and product availability, said Rob Garf, senior vice president of strategy and insights at retail marketing firm Cordial.
Prime Day spend: Adobe Analytics
US shoppers spent $14.2bn, up 11 per cent year-over-year, during Amazon’s July 2024 Prime Day event, according to Adobe Analytics.
The e-commerce giant often faces competing sales events from Walmart, Target and, now, ByteDance’s TikTok Shop, which are trying to lure shoppers into spending early on back-to-school and back-to-college merchandise including personal electronics, apparel and home goods.
The online retailer wants to entice younger shoppers to sign up for its subscription service Prime, by offering discounted memberships for people between the ages of 18 and 24 and other perks.
Prime subscriptions typically cost $14.99 per month or $139 per year.
