Gulf Business is launching a new flagship platform for one of the GCC’s most powerful engines of growth: real estate.

The Gulf Business Real Estate Summit & Awards will debut in May 2026, bringing together developers, investors, policymakers and industry leaders at a time when the region’s property market has crossed a historic threshold.

Find out more here: https://bit.ly/3M95ZUq

With more than $1tn in live and planned real estate projects across the GCC, the sector is entering a new phase — defined by scale, sophistication and long-term vision.

The initiative combines a high-level summit with the inaugural Gulf Business Real Estate Awards, creating a single platform that both interrogates the future of the sector and recognises the companies and leaders shaping it today.

Nominations for the Gulf Business Real Estate Awards 2026 are now open across almost 40 categories.

Click here to nominate: https://bit.ly/4qVEzQU

Gulf Business Group Editor, Gareth van Zyl, says the awards programme aims to recognise the full breadth of the real estate value chain.

“Categories span master developers, residential, commercial and luxury players, iconic and off-plan projects, smart and sustainable developments, proptech innovation, construction excellence, and leadership at every level of the industry,” says van Zyl.

“From established market leaders to emerging players, the awards are designed to capture the diversity and depth of a sector that continues to redefine skylines, cities and investment flows across the Gulf,” he added.

Winners will be selected through a rigorous, independent judging process, aligned with the same standards that have made the Gulf Business Awards one of the region’s most credible benchmarks of excellence.

Ahead of the awards ceremony, the Gulf Business Real Estate Summit will feature a focused, high-level panel discussion examining the trends shaping the next phase of growth across the GCC. Topics will include capital flows, sustainability, technology adoption, design, construction innovation and the evolving demands of investors and end-users.

Together, the summit and awards will provide a definitive snapshot of who is shaping the Gulf’s built environment, and who is setting the benchmark for what comes next.

Below are the categories for the awards:

Click here to nominate: https://bit.ly/4qVEzQU

Developer categories

• Master Developer of the Year

• Residential Developer of the Year

• Commercial Developer of the Year

• Luxury Developer of the Year

• Affordable Luxury Developer of the Year

• Emerging Developer of the Year

• International Real Estate Player of the Year

Project categories

• Branded Project of the Year

• Project of the Year

• Off-Plan Project of the Year

• Iconic Building of the Year

Sustainability & innovation

• Smart and Sustainable Development of the Year

Design & architecture

• Architectural Design Company of the Year

• Interior Design Company of the Year

• Architect of the Year

• Interior Designer of the Year

Investment & finance

• Real Estate Investment Company of the Year

• Real Estate Deal of the Year

Services & consultancy

• Real Estate Agency of the Year

• Property Management Company of the Year

• Facilities Management Company of the Year

Technology & proptech

• PropTech Company of the Year

• PropTech Leader of the Year

• Off-Plan Project of the Year

• Iconic Building of the Year

People & leadership

• Real Estate CEO of the Year

• Real Estate Entrepreneur of the Year

• Young Real Estate Professional of the Year

• Woman Real Estate Leader of the Year

• Real Estate Agent of the Year

• Real Estate Team of the Year

Regional categories

• Best GCC Developer of the Year

Construction & contracting

• Contracting Company of the Year

• Contracting Leader of the Year

• MEP Company of the Year

• MEP Leader of the Year

Over the past decade, Step has tracked the Middle East’s startup evolution closely. What began in 2012 as a modest gathering of early-stage founders has grown into one of the region’s most recognisable tech festivals, reflecting the rapid transformation of MENA’s entrepreneurial landscape. Ray Dargham, co-founder and CEO of Step, has witnessed that shift from experimentation to serious scale firsthand.

As regional hubs like Dubai and Riyadh compete for talent and capital, and as sectors such as AI, fintech, and digital infrastructure gather pace, Dargham offers a grounded view on what real maturity looks like, where founders often stumble, and how platforms like Step (being hosted on February 11-12 at Dubai Internet City) are positioning the region to produce globally competitive companies.

In this conversation, he shares insights on growth discipline, cutting through tech hype, and what it will take for the next wave of regional unicorns to emerge.

From what you’re seeing, how is the Middle East’s startup landscape maturing, and where is momentum accelerating fastest?

In the past decade, the startup scene in the region has moved from being nascent to one of the most dynamic ecosystems globally. When we launched Step back in 2012, there were only a handful of startups that joined us, but 14 years on, hundreds of founders from the UAE and the wider MENA region are showcasing real innovation, which has drawn serious interest from global investors.

We’re witnessing a strong momentum in areas such as AI, fintech and digital infrastructure, with Dubai and Riyadh attracting the largest amount of talent, investors and partnerships. We’re also seeing a lot of potential in markets such as Egypt, Jordan and Turkey.

To support this growth, we designed the 2026 edition of Step Dubai to focus on the role artificial intelligence is playing in business, finance, technology and creative industries.

We’ve welcomed more than 8,000 attendees, including over 400 startups and more than 100 companies and speakers from across the region and internationally, including a plethora of speakers from Silicon Valley. Most importantly, we’re providing access to an active investor community representing more than $12.6bnm in deployable capital.

Founders today are scaling faster than ever, often under intense pressure. What are the most common mistakes startups make as they move from early traction to sustainable growth?

In my experience, one of the most common mistakes founders make is chasing growth without keeping tabs on the fundamentals such as unit economics, product–market fit or strong operational discipline. Secondly, another common one is raising capital before product–market fit is truly proven. Founders must understand that funding does not fix a weak value proposition; it only amplifies existing inefficiencies and can push a company into scaling problems faster than anticipated.

Another area I’ve seen startups fall short is underestimate the importance of building a resilient team and culture. You can have a compelling vision and sufficient funding, but without aligned people who can execute under pressure, growth inevitably stalls.

Artificial intelligence (AI), Web3, and emerging technologies dominate conversations today. How can startups cut through the hype and focus on building solutions with real commercial and societal value?

Not all emerging technologies deserve equal attention. AI, in particular, has moved beyond hype and is clearly here to stay, while other trends that once dominated headlines have proven to be more buzzword-driven than impact-led. The real challenge for founders is not adopting technology for its own sake, but using the right technology to solve real, clearly defined problems.

The best way to cut through the hype is by identifying real problems and using AI and other emerging technologies to solve them. They can start by assessing viability, real use-case and measurable value. If at this stage the answers aren’t clear, there’s a good chance the startup is chasing hype rather than building something sustainable.

We always encourage founders to tie technology to tangible outcomes, whether that’s client cost savings, job creation, better financial & health outcomes or inclusion in underserved markets.

What practical steps can ecosystem players (governments, corporates, and investors) take to better support startup success across the region?

Empowering startups is not the responsibility of any single player; it requires the entire ecosystem to move together. Long-term startup success depends on collaboration across policy, capital, talent, and industry. It starts up top with governments creating the right framework for business to set up and providing a regulatory framework that is conducive to doing business.

Beyond funding, investors and corporates have a critical role to play in levelling up the support they provide to founders. This can include stronger mentorship, meaningful post-funding guidance, and a more patient approach to capital that recognises the realities of scaling in emerging and cross-border markets.

Looking ahead, what role do you see Dubai and platforms like STEP playing in shaping the next generation of regional unicorns, and how are you helping startups stay relevant in an increasingly competitive global tech landscape?

Dubai truly has the right ingredients to build the next set of unicorns with its genuinely open, global ecosystem. Dubai gives founders access to diverse markets, rapid testing across geographies, and proximity to both emerging and mature economies-a combination that makes it an ideal launchpad for startups and other businesses.

What we’re seeing is that founders from the region are no longer building for the region but are building from the region, for the world. Whether it’s fintech, SAAS, AI, commerce or creator tools, founders are designing with global scalability in mind from day one.

And as for Step, we see ourselves as conveners who bring together founders, innovators, investors and mentors under one roof to connect and find synergies. Beyond visibility, we help startups stay relevant by equipping them with the insights, networks and partnerships they need to evolve, compete globally and scale with confidence.

Step Dubai Conference is being held on February 11 and 12 at Dubai Internet City.

GE Aerospace signed an industrial participation agreement (IPA) and a memorandum of understanding (MoU) with Saudi Arabia’s General Authority for Military Industries (GAMI) to enhance engine repair capabilities and advance the kingdom’s aerospace manufacturing sector.

The agreements, signed at the World Defense Show 2026 in Riyadh, aim to strengthen maintenance, repair, and overhaul (MRO) skills using specialised equipment and advanced training.

GE Aerospace said it will support local companies in developing F110 engine capabilities, meeting international standards, and eventually undertaking more complex repair processes previously outsourced.

GE Aerospace collaboration to support Saudi’s military industries sector

“The MoU will contribute to strengthening GAMI’s ongoing efforts to localise and develop the military industries sector, aligning with Saudi Vision 2030 objectives to acquire the knowledge required in specialised processes and the international certifications necessary to develop engine parts manufacturing capabilities,” said Nawaf Albawardi, deputy governor for the Localisation Sector of GAMI.

Albawardi added that GE Aerospace’s participation supports defence sector requirements by providing local entities with technology, knowledge, and expertise to support manufacturing and elevate maintenance capabilities, including engine repair within Saudi Arabia and the region, creating high-value, skilled jobs.

Salim Mousallam, VP Defence & Systems for the Middle East, Africa, and Türkiye at GE Aerospace, said: “Our relationship with GAMI demonstrates GE Aerospace’s commitment to localising advanced strategic industries within the kingdom and cultivating a highly qualified national workforce to advance Saudi Vision 2030 goals.

“This collaboration to share knowledge on engine manufacturing and sustainment goes beyond technology transfer. By supporting Saudi suppliers to develop capabilities in advanced MRO and manufacturing techniques and precision engineering, the agreement will accelerate Saudi Arabia’s industrial know-how and global competitiveness.”

The initial phase will focus on transferring knowledge to enhance F110 capabilities and support local companies in establishing industrial entities for complex repairs.

GE Aerospace will also work with GAMI to explore potential manufacturing opportunities, identify qualified local firms, guide them through certification, and develop processes for specialised defence-related production under US government licencing approvals.

talabat, the leading delivery platform in the Middle East and North Africa, said in a media briefing that its cloud kitchen network, talabat Kitchens, now operates more than 30 hubs across the UAE, Kuwait, Qatar, Bahrain and Jordan, supporting over 1,000 restaurant partners.

Since its launch in 2020, the network has grown to over 500 kitchen stalls and aims to reach 50 hubs within three years, targeting 10 per cent of all food orders in mature markets through its kitchens.

Launched in 2020, talabat Kitchens operates on an asset-light, partner-first model, enabling both global franchises and homegrown brands to scale into new communities without heavy capital investment.

The network now includes more than 500 kitchen stalls and plans to reach 50 hubs within the next three years, aiming to fulfil 10 per cent of all food orders in mature markets through its kitchens.

How Pepper powers talabat Kitchens

“At the heart of talabat Kitchens is Pepper, our AI-powered engine, which predicts demand, optimises kitchen efficiency, and matches partners to locations before the market does,” said Tarek El Halabi, country lead, Kitchens, talabat UAE.

The platform’s proximity-based model shortens delivery times, increases order volumes, and reduces emissions, reflecting talabat’s focus on sustainability and operational efficiency.

“talabat Kitchens was built to solve two things at once: faster delivery for customers and smarter growth and stronger unit economics for our restaurant partners,” said Awais Malik, general manager, Kitchens, talabat MENA.

Since its first site in Khalifa City, Abu Dhabi, the network has grown into the largest multi-market cloud kitchen ecosystem in the region.

Future expansion will continue to embed AI and sustainability, supporting brand growth from mature to emerging markets.

Abu Dhabi‑based technology group G42 and a consortium of Vietnamese companies signed a framework cooperation agreement to develop sovereign artificial intelligence and cloud computing infrastructure across Vietnam, the parties said on Monday.

Under the pact, G42 and the consortium, which includes Vietnam’s FPT Corporation and the Viet Thai Group, will invest up to $1bn to deploy AI and cloud capacity at multiple data centre locations, supporting both public and private sector computing needs, according to a statement from the firms.

The partners plan to build and operate large‑scale data centres designed to provide high‑performance AI and cloud services, a step Hanoi hopes will help the country become a leading technology hub in Southeast Asia while safeguarding national data sovereignty.

G42, consortium to set up three data centres

Under the agreement, the consortium and G42 will deploy significant cloud capacity across three data centre locations in Vietnam.

“This framework agreement represents a new model for national AI transformation, one built on sovereignty, partnership and purpose,” Ali Al Amine, chief commercial officer of G42 International, said in the statement.

The FPT Corporation will provide technical expertise and local market knowledge, while Viet Thai Group will contribute strategic capabilities across sectors, including retail and logistics, the release said.

The Abu Dhabi‑based tech giant will supply advanced AI infrastructure capabilities.

Leaders from the consortium said the collaboration will support Vietnam’s ambition to deploy national AI initiatives, digitise services and boost innovation across government, industry and research institutions.

Officials said the next phase will involve finalising public‑private workload distribution, obtaining regulatory approvals and beginning data centre construction.

Vietnam has been pursuing hyperscale digital and AI infrastructure development as part of its broader economic strategy, aiming to strengthen data security, digital resilience and its position as a regional technology hub.

Read: G42 launches framework for sovereign AI deployment