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Where Abu Dhabi’s key assets land after the L’IMAD–ADQ restructure

L’IMAD’s extensive portfolio, comprising 25 investment platforms and over 250 subsidiaries, will focus on globally competitive operations in some sectors

Gulf Business
Gulf Business

02 February, 2026

Where Abu Dhabi’s key assets land after the L’IMAD–ADQ restructure
Image: WAM/ For illustrative purposes

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Abu Dhabi’s Supreme Council for Financial and Economic Affairs (SCFEA) recently issued a formal resolution to consolidate the assets and investments of L’IMAD Holding Company (L’IMAD) and the Abu Dhabi Developmental Holding Group (ADQ) under a single unified structure.

The restructuring, which places both entities under the L’IMAD umbrella, is designed to establish a diversified sovereign investment powerhouse.

The move aligns with the broader policy of the government of Abu Dhabi to foster sustainable investment and accelerate economic development within the UAE.

L’IMAD: Building national champions

L’IMAD is chaired by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi.

The firm is mandated to build “national champions” in sectors of strategic importance. Its extensive portfolio, comprising 25 investment platforms and over 250 subsidiaries, will focus on globally competitive operations in the following key sectors:

  • Energy and infrastructure: TAQA and Etihad Rail.
  • Aviation and logistics: Etihad Airways and Abu Dhabi Ports.
  • Healthcare and food: PureHealth and Louis Dreyfus.
  • Real estate and finance: Modon Properties, Wio Bank, and specialised assets such as McLaren.

Global expansion

Under the leadership of MD and CEO Jassem Mohamed Bu Ataba Al Zaabi, L’IMAD will actively pursue direct and indirect investments in both public and private financial markets.

The group aims to significantly expand its international footprint through private investment funds and strategic partnerships in high-priority industrial and technology sectors.

The Supreme Council for Financial and Economic Affairs continues to provide high-level oversight for Abu Dhabi’s principal sovereign funds.

This core group now consists of:

  1. Abu Dhabi Investment Authority (ADIA)
  2. Mubadala Investment Company
  3. L’IMAD Holding Company

Additionally, the SCFEA maintains oversight of the Abu Dhabi National Oil Company (ADNOC), ensuring strategic alignment across the emirate’s energy, gas, and petrochemical operations.

Encountered fraud messages in the UAE? Here’s what you need to know

The advisory reflects growing concern over the expanding scale and complexity of fraudulent digital activity affecting users across the country

Gulf Business
Gulf Business

02 February, 2026

Encountered fraud messages in the UAE? Here’s what you need to know
Image credit: Getty Images

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The Cyber Security Council (CSC) in the UAE has issued a warning about the growing dangers posed by fraudulent messages targeting citizens, highlighting the significant risks associated with cyber scams and phishing attempts. The council urged the public to remain vigilant by reporting scammers, deleting fraudulent messages, refraining from interacting with them, blocking unknown numbers and immediately notifying relevant authorities.

According to a WAM report, the council stressed the importance of heightened caution and vigilance against cyber fraud, calling for the blocking of activities potentially linked to phishing schemes or SMS-based scams. The advisory reflects growing concern over the expanding scale and complexity of fraudulent digital activity affecting users across the country.

Read more-Job seekers beware: Dubai Police warn of work visa scams

The CSC noted that fraudsters are increasingly relying on advanced and sophisticated methods of deception. These include requesting personal information or impersonating official or government entities, institutions or trusted companies in order to gain users’ trust and extract sensitive personal and financial data.

The council underscored the importance of exercising constant caution before clicking on electronic links and urged users to verify advertisements and the sources of messages that contain links or request personal or financial information. It emphasised that vigilance remains a critical defense against evolving cyber threats.

Identifying common scam indicators

To help users identify fraudulent messages, the CSC outlined several key indicators. Such messages often convey a sense of urgency, lack personalisation, appear “too good to be true,” and typically originate from unknown numbers or contacts. Common examples include phrases such as “You have won,” “You are entitled to a refund,” “Verify your bank account,” or “Exclusive discounted credit card offer,” among others.

The council affirmed that combating phishing and cyber fraud begins at the individual level through enhanced cyber awareness and the development of a strong cybersecurity culture. It called on users to follow essential practices, including avoiding engagement with suspicious messages, blocking senders and refraining from clicking on embedded links.

Preventive habits and growing challenges

The weekly Cyber Pulse awareness message also encouraged users to adopt preventive habits to reduce future exposure to fraudulent messages, such as installing applications that block spam messages and regularly deleting untrusted communications.

The CSC noted that the spread of fraudulent messages, reaching approximately 35 percent over the past year, has created increasingly complex challenges for users. This trend highlights the need for defensive tools and technologies based on knowledge, awareness and a clear understanding of emerging risks.

The Council concluded by affirming that cybersecurity safety in the digital space has become a major challenge and that preventive measures complement ongoing government efforts to address digital challenges driven by rapid technological evolution.

Dubai’s Umm Suqeim Beach project: Inside its Dhs500m makeover

The Dhs500m project aims to turn Umm Suqeim Beach into an iconic destination that combines universal appeal with a distinctive Emirati identity

Gulf Business
Gulf Business

02 February, 2026

Dubai’s Umm Suqeim Beach project: Inside its Dhs500m makeover
Image credit: Dubai Media Office/Website

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Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of The Executive Council of Dubai, has approved the master plan for the development of Umm Suqeim Beach, marking a major investment in the emirate’s public beach infrastructure and tourism economy.

The Dhs500m project aims to transform Umm Suqeim Beach into an iconic destination that combines universal appeal with a distinctive Emirati identity. The development is one of the flagship strategic initiatives being implemented by Dubai Municipality under a broader plan to enhance public beaches across the emirate, reinforcing Dubai’s position as a global tourism and lifestyle destination, according to a WAM report.

“Today, we approved the Dhs500m Umm Suqeim Beach master plan,” Sheikh Hamdan said. “The project is part of our ongoing drive to enhance Dubai’s beaches with world-class design elements that reflect the city’s spirit of innovation and creativity and its leadership in leveraging the highest urban planning standards and advanced technology to deliver distinctive, sustainable leisure and tourism facilities.”

He added that Dubai’s beaches are a central pillar of the city’s global appeal. “Dubai is a jewel among cities and a pearl among beach destinations, and the quality of life of its residents and visitors remains our top priority,” he said.

The Umm Suqeim Beach development aligns with several of Dubai’s long-term strategic frameworks, including the Dubai Quality of Life Strategy 2033 and the Dubai 2040 Urban Master Plan. These strategies focus on creating integrated public spaces that promote healthy lifestyles, enhance community wellbeing, optimise the use of waterfronts, and support sustainable urban growth.

Sheikh Hamdan said the development of public spaces and waterfronts forms part of an integrated vision to create a holistic urban environment. “The development of Dubai’s infrastructure, including its public spaces and waterfronts, is part of an integrated vision to create a holistic urban environment that meets community expectations and reinforces Dubai’s position as the best city in the world to live, work, and visit,” he noted.

Image credit: Dubai Media Office/Website

Scale, design and community integration

The comprehensive project will extend across 3.1 kilometres, covering approximately 445,000 square metres. It will increase beach area and developable spaces by 30 per cent, significantly expanding capacity for leisure and tourism activities.

To support evening use and night swimming, smart lighting systems will illuminate 130,000 square metres of beachfront. The master plan is based on extensive social, environmental and traffic studies, alongside community engagement initiatives, to ensure sustainable land use and high-quality urban planning.

A key focus of the development is balancing tourism activity with environmental preservation and maintaining the privacy of nearby residential areas, reflecting Dubai’s broader approach to inclusive and sustainable urban development.

Image credit: Dubai Media Office/Website

Infrastructure, access and capacity expansion

The redeveloped Umm Suqeim Beach is expected to accommodate up to 6 million visitors annually. Infrastructure and services will be comprehensively upgraded, including a 200 per cent increase in parking capacity to around 2,400 spaces.

Road networks and access points from Jumeirah Street will be revamped, with traffic flows separated from surrounding residential areas to improve mobility and reduce congestion. The plan also includes six main gateways featuring architectural designs inspired by the beach’s local identity.

Additional infrastructure elements include 10 mobility hubs, 11 taxi pickup and drop-off points, and integrated facilities for bicycles and electric scooters, supporting multimodal and sustainable transport options.

Image credit: Dubai Media Office/Website

Landmark features and sustainability focus

Among the standout features of the project is a 38-metre observation tower inspired by the emirate’s maritime heritage, designed to serve as a prominent visual landmark and enhance the beach’s overall identity.

Sustainability and climate resilience form a central component of the master plan. Engineering solutions will address rising sea levels through the construction of a two-kilometre retaining wall and the elevation of beach levels. An AI-powered smart facilities management system will be adopted to improve operational efficiency and long-term maintenance.

Public-private partnerships and economic impact

Dubai Municipality said the Umm Suqeim Beach project reflects its commitment to implementing leadership directives while delivering state-of-the-art tourism infrastructure. Marwan Ahmed bin Ghalita noted that the development focuses on creating an all-day destination that integrates leisure, sports and culture, while adhering to the highest standards of safety, accessibility and inclusivity, particularly for people of determination and senior citizens.

Through the project, Dubai Municipality aims to strengthen public-private partnerships by engaging investors and private sector partners, supporting economic growth and reinforcing the emirate’s tourism sector. The master plan underscores Dubai’s broader ambition to transform its beaches into globally recognised urban and tourism landmarks.

Dubai’s GDP hits Dhs355bn in first 9 months of 2025, up 4.7%

Dubai’s real estate sector grew by 6.7 per cent, information and communications grew 4.8 per cent, and accommodation and food services expanded 4.7 per cent

Gulf Business
Gulf Business

02 February, 2026

Dubai’s GDP hits Dhs355bn in first 9 months of 2025, up 4.7%
Image: Dubai Media Office

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Dubai’s economy recorded a gross domestic product (GDP) of Dhs355bn in the first nine months of 2025, up 4.7 per cent compared with the same period in 2024. The third quarter alone contributed Dhs 113.8bn and expanded by 5.3 per cent year-over-year.

Health and social work activities were the fastest-growing sector, expanding 15.4 per cent and contributing 1.5 per cent to GDP.

Financial and insurance activities grew 8.5 per cent, contributing 12 per cent, while construction also rose 8.5 per cent, adding 6.7 per cent to the GDP.

Real estate increased 6.7 per cent, information and communications grew 4.8 per cent, and accommodation and food services expanded 4.7 per cent.

Wholesale and retail trade grew 4.6 per cent, while other sectors collectively rose 2.2 per cent.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, said the figures reflect “a dynamic economic ecosystem and a development model that puts people first, invests in talent, and builds prosperity on strong, sustainable foundations.”

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International visitors to Dubai from January to September

Dubai welcomed 13.95 million international visitors in the first nine months of 2025, up 5 per cent from the same period in 2024, supporting growth in the accommodation and food services sector.

Helal Saeed Almarri, director general of the Dubai Department of Economy and Tourism, said the results show Dubai’s ability to “sustain and accelerate growth” and highlighted alignment across government and the private sector to strengthen competitiveness.

The Dubai Data and Statistics Establishment is re-estimating GDP time series and other indicators to improve the accuracy, reliability, and transparency of data supporting policy and development planning

Miral to develop Topgolf venue on Yas Island

Topgolf Yas Island, Abu Dhabi, will join Miral’s existing attractions on the island, including Ferrari World Yas Island, Warner Bros. World Yas Island, and Yas Waterworld Yas Island

Gulf Business
Gulf Business

02 February, 2026

Miral to develop Topgolf venue on Yas Island
Image: Supplied

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Miral said Topgolf will open on Yas Island, adding a new sports and entertainment attraction to the destination, with completion targeted for 2026.

The project is under construction and has reached 28 per cent completion. Topgolf Yas Island, Abu Dhabi is being developed by Miral in partnership with Viya, an authorised franchise partner of Topgolf.

The venue will include a multi-tier driving range and entertainment facility covering about 6,500 square metres of gross floor area, alongside a 19,000 square metre outfield driving range fitted with TopTracer ball-tracking technology.

The complex will feature 82 hitting bays, including eight VIP bays, designed for players of all skill levels.

Jonathan Brown, chief portfolio officer at Miral, said: “We are excited to announce the development of Topgolf on Yas Island. We look forward to welcoming golf enthusiasts and first-time players to enjoy this dynamic and immersive sporting experience on Yas Island.”

Topgolf venue to include a three-tier multi-entertainment complex

The building will comprise a three-level multi-entertainment complex. The ground floor will include a VR hitting bay, direct access to the tee line for practice and training, lounge space, an event lawn and a Pro Shop selling golf equipment.

Upper levels will house dining venues, including a sports and sky lounge with outdoor terraces, an arcade zone and a flexible event space.

Christopher May, chief executive officer at Viya, said: “Topgolf Yas Island, Abu Dhabi, builds on the proven success of Topgolf Dubai. In just five years, Topgolf Dubai has welcomed more than 2.7 million guests and has been recognised with over 29 industry awards. In partnership with Miral and Topgolf International, we are proud to announce Topgolf Yas Island, Abu Dhabi, marking our next phase of growth in the UAE.”

Miral said the project supports its strategy of integrating technology into sports and entertainment experiences while expanding its regional footprint.

The new venue will add to Abu Dhabi’s leisure and entertainment offering.

Topgolf Yas Island, Abu Dhabi, will join Miral’s existing attractions on the island, including Ferrari World Yas Island, Abu Dhabi, Warner Bros. World Yas Island, Abu Dhabi, Yas Waterworld Yas Island, Abu Dhabi, SeaWorld Yas Island, Abu Dhabi, CLYMB Yas Island, Abu Dhabi and Yas Marina.

It will also complement existing golf facilities on the island, including Yas Links Abu Dhabi and Yas Acres Golf and Country Club.

RAK govt inks key deal to build emirate’s largest wastewater treatment plant

This partnership is RAK’s first PPP venture, marking a strong precedent for future collaboration between the public and private sectors in essential infrastructure

Gulf Business
Gulf Business

01 February, 2026

RAK govt inks key deal to build emirate’s largest wastewater treatment plant
Image: Supplied

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The government of Ras Al Khaimah (RAK) signed a long-term sewage treatment agreement (STA) with a consortium comprising Etihad Water and Electricity (EtihadWE), TAQA Water Solutions, and Saur International to develop a wastewater treatment plant with a capacity of 60,000 cubic metres per day.

The plant will serve a potential population of 300,000 and is the emirate’s first public-private partnership (PPP) in wastewater infrastructure.

Sheikh Ahmed bin Saud Al Qasimi, chairman of Ras Al Khaimah Public Services Department, said the agreement advances infrastructure projects that support urban development, resource sustainability, and service delivery.

He noted that the PPP model strengthens collaboration with the private sector, accelerates delivery, and provides long-term management of assets.

Project in RAK to improve treatment efficiency

Engineer Khalid Fadel Al Ali, director general of the Public Services Department, said the project will improve treatment efficiency, operational reliability, and infrastructure readiness to meet urban expansion demands. He added that the PPP provides a model for future infrastructure collaborations and investment.

Engineer Yousef Ahmed Al Ali, CEO of Etihad Water and Electricity, said: “The signing of this agreement represents a practical step towards strengthening the resilience and readiness of Ras Al Khaimah’s wastewater infrastructure, while supporting long-term water security objectives. Through this public-private partnership, the government is bringing together public sector leadership with a consortium that has proven capabilities in project development and operations. This partnership enables the delivery of resilient and sustainable assets, enhances public service quality, supports urban growth, and ensures long-term benefits for the community and the environment.”

Wastewater collection to be facilitated by TAQA

Engineer Ahmed Al Shamsi, CEO of TAQA Water Solution, said: “TAQA Water Solutions will collect wastewater at the Ras Al Khaimah Wastewater Treatment Plant through a 6.3km gravity pipeline and distribute the recycled water via a network extending up to 26 km. This will allow for the reuse of 100 per cent of recycled water across areas, including irrigation and cooling, in line with the UAE 2030 Vision, the UAE Net Zero 2050 Strategy and United Nations Sustainable Development Goals related to sustainable cities and communities.”

Christophe Tanguy, CEO of Saur Middle East, stated that the project aligns with Saur International’s expertise in operating integrated wastewater systems, where reliability, environmental performance, and regulatory compliance are fundamental.

The project will use a build–own–operate–transfer (BOOT) model. The consortium will be responsible for design, financing, construction, commissioning, insurance, ownership, operation, and maintenance throughout the project lifecycle.

Ownership of all assets will transfer to the Public Services Department at the end of the term

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Where Abu Dhabi’s key assets land after the L’IMAD–ADQ restructure