du, the UAE’s leading telecom and digital services provider, showcased a series of landmark initiatives at GITEX GLOBAL 2025, underscoring its role in driving the nation’s digital transformation across public safety, maritime connectivity, and sovereign cloud infrastructure.

The telecom giant announced an expanded partnership with Hassantuk, Core42’s flagship public safety platform, introducing advanced facility monitoring, food safety compliance, and predictive emergency response systems powered by AI and IoT.

The enhanced platform enables real-time environmental and structural assessments, risk prediction, and mobile alerts, positioning the UAE as a global leader in smart city safety infrastructure. Jasim Al Awadi, du’s chief ICT officer, highlighted the collaboration as a “pivotal step forward in creating a safer, smarter society.”

Read: GITEX GLOBAL 2025: Core42’s CEO on AI-native nations, sovereign cloud

In a parallel announcement, du partnered with ELCOME, a Starlink authorised reseller, to provide high-speed maritime connectivity. Leveraging du’s 5G+ technology, the collaboration enables seamless handover between terrestrial 5G networks and Starlink satellites, delivering uninterrupted voice, SMS, and broadband services for cargo fleets, yachts, and offshore operations.

Fahad Al Hassawi, du CEO, described the initiative as a “world-first milestone” that brings connectivity to previously unreachable maritime regions.

du and Dubai Taxi Company to collaborate

Furthering its digital ambitions, du signed a memorandum of understanding with Dubai Taxi Company to migrate its core systems onto du’s National Hypercloud, a sovereign AI-ready platform.

This modernisation enhances operational efficiency, ensures full data sovereignty, and creates a blueprint for other government-linked enterprises seeking secure, high-performance cloud infrastructure.

Collectively, these initiatives reflect du’s strategic focus on leveraging AI, IoT, 5G, and cloud technologies to deliver next-generation solutions for safety, mobility, and connectivity, reinforcing its position as a cornerstone of the UAE’s digital economy.

ALEC Holdings, the Dubai-based engineering and construction group based in Dubai, made a strong debut on the Dubai Financial Market (DFM) on Wednesday following the UAE’s largest-ever initial public offering (IPO) in the construction sector by valuation and size, and the first in more than 15 years.

The company raised Dhs1.4bn ($381m) through the sale of one billion existing shares by its sole shareholder, the Investment Corporation of Dubai (ICD), representing 20 per cenr of ALEC’s share capital.

ICD retains an 80 per cent stake following the listing.

The IPO, priced at Dhs1.40 per share, valued ALEC at Dhs7bn ($1.91bn) and attracted around Dhs30bn ($8.1bn) in orders, more than 21 times oversubscribed.

Non-UAE investors accounted for one of the highest participation levels among recent Dubai government-related listings.

A key milestone for ALEC Holdings, says CEO

Barry Lewis, CEO of ALEC Holdings, said the listing marked “a proud and defining milestone”, reflecting over two decades of growth and operational excellence.

ALEC plans to distribute Dhs200m in dividends in April 2026, followed by Dhs500m for FY2026, representing a 7.1 per cent dividend yield at listing.

The shares began trading under ticker “ALEC”. As of June 2025, DFM’s market capitalisation reached Dhs995bn.

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.