IHC, a global investment company focused on building dynamic value networks, announced plans to merge its flagship portfolio companies 2PointZero, Multiply Group, and Ghitha Holding into a single investment powerhouse valued at approximately Dhs120bn, creating one of Abu Dhabi’s largest listed investment entities.

The combined company will be renamed 2PointZero Group and remain listed on the Abu Dhabi Securities Exchange (ADX), uniting diversified platforms across sectors essential to future global growth. The move is aimed at accelerating global competitiveness, operational efficiency, and long-term shareholder value.

The merged entity will focus on the energy and consumer sectors, leveraging rising energy demand, AI innovation, global consumer growth, and expanding food security needs. The transaction is expected to close by mid-November.

Leveraging IHC’s platforms

The merger brings together complementary strengths across IHC’s platforms, uniting capabilities in two key sectors.

The new entity will build a vertically integrated energy platform and hold leading positions across essential consumer categories, with operations spanning more than 85 countries.

The merged company aims to provide shareholders dual access to growth in energy and consumer sectors, with strategic acquisitions expected to unlock operational, digital, and cost synergies.

Sheikh Tahnoon bin Zayed Al Nahyan, IHC chairman, said: “This merger reflects IHC’s continued commitment to building globally competitive platforms that drive sustainable value for Abu Dhabi and beyond. By combining three of our most strategic entities, we advance a structure that enhances long‑term growth, scalability, and resilience across vital global sectors.”

2PointZero Group portfolio overview

• 2PointZero holds scalable assets in energy, mining, and financial services, acting as an AI enabler in the global energy transition. Its portfolio includes ePointZero, International Resources Holding (IRH) with Mopani Copper Mines, Alphamin, and key transition minerals, El Sewedy Electric, EHC International, and diversified energy generation assets. Financial holdings include Lunate, Beltone Holding, Chimera Investment, Alpheya, Citadel, and Sagasse.
• Multiply Group operates across mobility, media, apparel, packaging, and beauty, in addition to energy. Using AI-driven strategies, it has achieved 8× EBITDA and 5.4× revenue growth over four years. Key holdings include Emirates Driving Company, Kalyon Enerji, TAQA, Multiply Media Group, and Omorfia Group. Multiply has expanded in Europe via Tendam (Spain) and Italy’s ISEM.
• Ghitha Holding covers agriculture, food production, and distribution, with subsidiaries including Al Ain Farms, Al Ajban Poultry, ADVOC, Al Hashemeya, Asmak, Marmum, Mirak Group, NRTC, Zee Stores, and Royal Horizon, alongside strategic interests in APEX Investments.

Transaction details

The deal will be executed through a share-swap mechanism. Multiply Group will issue about 23.36 billion new shares to acquire 21.60 billion shares of 2PointZero (100 per cent) and 1.77 billion shares of Ghitha Holding (83.9 per cent).

Share capital will increase from Dhs2.8bn to Dhs8.64bn, with 34.56 billion shares outstanding post-merger.

The combined asset base is estimated at Dhs120bn.

Completion is subject to shareholder and regulatory approvals, with the transaction expected to close by mid-November 2025.

Additional details will be announced following review procedures.

Read: Abu Dhabi’s IHC to invest $1bn in India’s Sammaan Capital

Dubizzle Group, the leading digital classifieds marketplace in the MENA region, has announced its intention to proceed with an initial public offering (IPO) and list its ordinary shares on the Dubai Financial Market (DFM).

Through its popular platforms dubizzle and Bayut, the company connects individual and business sellers with prospective buyers across multiple verticals, particularly real estate and automotive.

According to a statement by the Dubai-based company, the IPO will comprise approximately 30.34 per cent of the company’s total issued share capital, including 196,114,887 new shares and 1,053,411,504 existing shares sold by current shareholders.

The subscription period for UAE retail and professional investors will open on October 23 and close on October 29, with pricing and allocation for professional investors expected on October 30.

Shares are anticipated to begin trading on or around November 6.

Prosus, Dubizzle Group’s largest shareholder through its subsidiary OLX, has committed to invest $100m as part of the offering, reflecting its long-term support for the company.

“Dubizzle Group is the leading digital classifieds platform in the MENA region, with 18 million monthly active users across property, automotive, general goods, and other categories,” said Imran Ali Khan, CEO of Dubizzle Group. “This IPO marks an exciting new chapter for Dubizzle Group. By welcoming a broader shareholder base, we are positioning the group to accelerate growth, deepen our presence in the markets where we operate, and create long-term value for our users, clients, employees, and shareholders alike.”

Fahd Beg, head of Investment at Prosus, said: “Since our initial investment in 2011, we have seen Dubizzle Group grow into the leading regional classifieds platform. This IPO is both a major milestone and a testament to the vision and execution of its leadership team. We are proud to support the next chapter of growth for this homegrown tech champion.”

The offering will consist of:

• UAE retail offering: 3 per cent of the offering (37,485,791 shares) for retail investors and other investors holding a national investor number at DFM.
• Qualified investors offering: 97 per cent of the offering (1,212,040,600 shares) for professional investors in several countries, including the UAE.

The company and selling shareholders may adjust the size of the offering prior to the end of the subscription period, subject to UAE law.

Proceeds to drive growth for Dubizzle Group

Net proceeds will be used to settle the employee stock ownership plan, fund strategic mergers and acquisitions, and maintain strategic flexibility for growth.

Following the IPO, xCube will serve as both price stabilisation manager and liquidity provider to enhance tradability and maintain price stability.

Rothschild & Co has been appointed as Independent Financial Advisor, Emirates NBD Capital as listing advisor, and Emirates NBD Capital, Goldman Sachs International, HSBC Bank Middle East, and Morgan Stanley & Co. International as joint global coordinators and joint bookrunners.

Additional receiving banks include Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Al Maryah Community Bank, Dubai Islamic Bank, Emirates Islamic Bank, First Abu Dhabi Bank, Mashreq Bank, and Wio Bank.

The Internal Shariah Supervision Committee of Emirates NBD Bank has issued a pronouncement confirming that, in its view, the offering complies with Shariah principles, although investors are advised to perform their own due diligence.

Luxury real estate developer Sobha Realty has unveiled Sobha SkyParks, its tallest project to date, located on Dubai’s Sheikh Zayed Road.

Rising 109 floors and approximately 450 metres, the development ranks among the top five tallest buildings in the UAE and comprises 684 residences.

Sobha SkyParks reflects the company’s “The Art of Detail” philosophy, featuring a straight-line tower structure divided into five slender sub-towers.

Minimalist glass façades and inset balconies create a vertical elegance, offering panoramic views of Sheikh Zayed Road, the Palm Jumeirah, and the Arabian Gulf.

The project emphasises vertical urbanisation, integrating lifestyle, leisure, and community within a single development.

Speaking on the launch, Ravi Menon, chairman of Sobha Group, said: “Sobha SkyParks reflects our unwavering commitment to shaping the future of urban living in Dubai. It stands as a testament to Sobha’s excellence and meticulous attention to detail, blending timeless design and unparalleled amenities in the heart of Dubai. With this launch, we continue to push the boundaries of luxury and innovation in Dubai.”

Sobha SkyParks: Highlight

A standout feature of the development is its four themed SkyParks, each spanning six stories.

These elevated leisure and wellness zones offer immersive indoor and outdoor experiences.

Highlights include:

• Adventure Zone SkyParks: Family-friendly play areas and padel courts

• Active Life SkyParks: Multi-level fitness circuits and wellness terraces

• Lush Life SkyParks: Zen gardens, reflexology paths, and glass pavilions

• Luxe Life SkyParks: Crowning the tower at nearly 350 metres, this SkyPark includes a resort-inspired infinity pool deck with floating beds

The project provides seamless connectivity to Dubai’s prime destinations, including DIFC, Downtown, Business Bay, Dubai Design District, Dubai Marina, and Jumeirah.

Talabat Holding, the on-demand online ordering and delivery platform in the Middle East and North Africa, announced that CEO Tomaso Rodriguez will step down after six years in the role as part of a planned leadership transition.

Rodriguez will be succeeded by Toon Gyssels, who returns to the company and will formally assume the position of CEO on November 21.

The transition reflects talabat’s focus on maintaining sustained growth and leadership while preparing for the next phase of innovation in the delivery sector.

Rodriguez will continue to support the company as a member of the talabat board, focusing on strategy and stakeholder engagement in a non-executive capacity. He will also work closely with Gyssels during the handover period.

“Tomaso has done a great job during six impactful years as CEO and I am delighted that he is remaining on the board to help shape Talabat’s strategy going forward,” said Pieter-Jan Vandepitte, chairperson of talabat’s board of directors. “With Toon’s outstanding entrepreneurial experience and proven track record in the platform delivery technology sector, we are confident that he will drive Talabat’s next chapter of innovation and growth in the region. His appointment is an exciting step forward as we continue to strengthen our position in this dynamic market.”

Reflecting on his tenure, Rodriguez said, “The last six years as CEO of talabat have been nothing short of amazing. I’ve been privileged to work with an incredibly talented team that managed to grow the business more than nine-fold. More recently, I was privileged to guide the company through a record-breaking IPO, and I couldn’t be more proud of what we achieved. I am looking forward to closely supporting talabat’s strategy going forward as a Board member, and assisting Toon as he moves into the CEO role.”

Gyssels’ previous roles at talabat

Gyssels previously spent four years at talabat, serving as COO and later as interim CEO. During that period, he played a key role in expanding Talabat’s operations across MENA, transforming its logistics infrastructure, and launching new verticals such as Q-commerce and cloud kitchens.

Most recently, Gyssels served as COO at Kitopi and CEO of its On Demand business unit, where he contributed to building the company into a next-generation food and beverage player in the region.

Earlier in his career, he worked with McKinsey & Company and has since led growth and transformation mandates across several technology scale-ups in the MENA region, with a strong focus on AI-driven business innovation.

“talabat has achieved a great deal in recent years, and I’m excited to rejoin at such a pivotal point in its journey,” Gyssels said. “Together with the team, my focus will be on accelerating innovation and ensuring we are well positioned to capture the opportunities ahead in one of the most dynamic markets in the world.”

The company expressed its appreciation for Rodriguez’s leadership, crediting him for his contributions to the company’s rapid growth and for guiding it through its record-breaking initial public offering on the Dubai Financial Market in December 2024.

Founded in Kuwait in 2004, talabat has grown into the region’s leading on-demand delivery platform, serving more than 6.5 million active customers across eight markets, including the UAE, Kuwait, Qatar, Egypt, Bahrain, Oman, Jordan, and Iraq.

A subsidiary of Delivery Hero SE, the platform continues to focus on expanding its offerings and market presence through technology-driven innovation.

The UAE Public Prosecution has unveiled two innovative AI-powered initiatives at GITEX Global 2025. In partnership with AI71, the entity introduced the Virtual Prosecutor Assistant, a unified digital platform designed to streamline prosecutorial tasks.

This system offers instant access to case information, automates case summarisation, tracks progress, and prepares referral orders electronically. It also provides analytical insights to enhance decision-making and identify emerging legal patterns.

Counselor Maryam Humaid Nasser, chief prosecutor at the Office of the UAE Attorney General, emphasised that this initiative represents a pivotal step toward a more efficient and transparent digital justice system.

The Public Prosecution also launched “Bayan,” an advanced Smart Translation Centre developed in collaboration with Presight. This platform enables real-time judicial translation and multilingual collaboration, integrating secure data analytics, speech recognition, and video conferencing capabilities.

The system automates transcription and translation of interrogation and investigation sessions, generating bilingual records within minutes while maintaining accuracy and confidentiality.

Chancellor Salem Ali Al Zaabi, head of Public Prosecution at the Office of the UAE Attorney General, noted that “Bayan” accelerates case progression, strengthens public trust, and builds a more intelligent, transparent, and equitable judicial system.

Strategic partnerships and ethical governance

During the show, the UAE Public Prosecution signed a memorandum of understanding with Khalifa University to enhance coordination in training, knowledge exchange, and research in artificial intelligence and emerging technologies. Additionally, a panel discussion on the “Ethical Governance Framework for Artificial Intelligence in Criminal Justice” was held, focusing on principles of transparency, accountability, and algorithmic fairness in AI applications within the justice system.

Amira Al Wahshi, project manager at the UAE Public Prosecution, affirmed that artificial intelligence will serve as an enabler that enhances efficiency and strengthens justice within a framework of transparency and responsibility.

These initiatives are part of the UAE Public Prosecution’s AI Strategy 2025–2030, aiming to position the country as a leader in smart justice and digital governance.