Blackrock, Top Dubai Lender Partner on Private Markets Platform - Bloomberg
Blackrock Inc. is partnering with Dubai-based lender Emirates NBD on a new platform designed to give Middle Eastern investors greater access to fast-growing private markets.
The product will offer Emirates NBD’s wealth clients access to private credit and alternative assets, according to a statement on Tuesday. It will be based on BlackRock’s Alternative Investments platform, which has more than $450 billion assets under management.
The firms will first launch a range of so-called evergreen offerings, which allow investors more flexibility than closed-end funds, focused on income and growth strategies exclusively in the United Arab Emirates.
International players are fast entering the private credit space in the Middle East, partnering with wealth funds in the region including Mubadala Investment Co., Abu Dhabi Investment Authority, ADQ and Saudi Arabia’s Public Investment Fund.
Private credit was Mubadala’s best-performing asset class for three years in a row, its deputy chief executive officer said in January.
Wednesday, 26 March 2025
Emaar Properties announces 100% dividend payout of $2.39bln
Emaar Properties announces 100% dividend payout of $2.39bln
Emaar Properties today approved a 100 percent dividend payout, amounting to AED8.8 billion, during its Annual General Meeting (AGM). This follows the introduction of Emaar’s updated dividend policy in December 2024.
The meeting also included the approval of the auditor’s report for 2024, along with the board’s report on the company’s activities and financial position.
Emaar’s financial results for 2024 reflected strong operational performance and continued growth across its key business segments. The company recorded property sales of approximately AED70 billion (US$19 billion), representing a 72 percent increase compared to 2023.
Emaar’s revenue backlog from property sales exceeded AED110 billion (US$30 billion), supporting future revenue generation.
Total revenue for 2024 reached AED35.5 billion ($9.6 billion), marking a 33 percent year-over-year increase, while net profit before tax grew by 25 percent to AED18.9 billion ($5.1 billion). EBITDA for the year stood at AED19.3 billion ($5.2 billion), with a margin of 54 percent.
Mohamed Alabbar, Founder of Emaar Properties, said, “Emaar’s 2024 results reflect our dedication to operational excellence, innovation, and customer experience. As we move forward, we remain committed to sustainable and technology-driven growth, further enhancing Dubai’s position as a leading global destination for investment and development while aligning with the UAE’s Net Zero 2050 vision.”
Emaar Properties today approved a 100 percent dividend payout, amounting to AED8.8 billion, during its Annual General Meeting (AGM). This follows the introduction of Emaar’s updated dividend policy in December 2024.
The meeting also included the approval of the auditor’s report for 2024, along with the board’s report on the company’s activities and financial position.
Emaar’s financial results for 2024 reflected strong operational performance and continued growth across its key business segments. The company recorded property sales of approximately AED70 billion (US$19 billion), representing a 72 percent increase compared to 2023.
Emaar’s revenue backlog from property sales exceeded AED110 billion (US$30 billion), supporting future revenue generation.
Total revenue for 2024 reached AED35.5 billion ($9.6 billion), marking a 33 percent year-over-year increase, while net profit before tax grew by 25 percent to AED18.9 billion ($5.1 billion). EBITDA for the year stood at AED19.3 billion ($5.2 billion), with a margin of 54 percent.
Mohamed Alabbar, Founder of Emaar Properties, said, “Emaar’s 2024 results reflect our dedication to operational excellence, innovation, and customer experience. As we move forward, we remain committed to sustainable and technology-driven growth, further enhancing Dubai’s position as a leading global destination for investment and development while aligning with the UAE’s Net Zero 2050 vision.”
Gulf bourses end mixed as investors await clarity on US tariffs | Reuters
Gulf bourses end mixed as investors await clarity on US tariffs | Reuters
Major Gulf stock markets were mixed on Wednesday as investors waited for clarity on U.S. President Donald Trump's trade policy ahead of looming tariffs.
Traders are hoping there may be room for flexibility around recently-announced trade policies, after Trump hinted earlier this week that not all tariffs would kick in on April 2, and that some countries may be exempt.
Oil prices - a catalyst for the Gulf's financial markets - initially rose on U.S. plans for additional tariffs on buyers of Venezuelan oil and gas, and a larger-than-expected drop in U.S. crude inventories.
But the impact was later mitigated by the U.S.-brokered maritime security and energy truce between Russia and Ukraine.
Saudi Arabia's benchmark index (.TASI), opens new tab advanced 2.3%, led by a 3% rise in Al Rajhi Bank (1120.SE), opens new tab and a 2.1% increase in oil giant Saudi Aramco (2222.SE), opens new tab.
"The Saudi bourse exhibited strong positive performance, showing improved sentiment after a period of uncertainty," Joseph Dahrieh, managing principal at TickmillAll, said, adding that all sectors traded positively on Wednesday.
"The energy sector extended its rebound, benefiting from the recent two-week oil price recovery, with Aramco also posting gains," he said.
In Qatar, the index (.QSI), opens new tab added 0.3%, helped by a 0.3% rise in the Gulf's biggest lender by assets, Qatar National Bank (QNBK.QA), opens new tab.
The Abu Dhabi index (.FTFADGI), opens new tab edged 0.2% higher.
Dubai's main share index (.DFMGI), opens new tab, however, finished flat, despite budget airline Air Arabia's (AIRA.DU), opens new tab 8.9% plunge. Emirates Integrated Telecommunications (DU.DU), opens new tab also retreated 3.2%. Both stocks traded ex-dividend.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab eased 0.1%, with EFG Holding (HRHO.CA), opens new tab slipping 1.7%.
Major Gulf stock markets were mixed on Wednesday as investors waited for clarity on U.S. President Donald Trump's trade policy ahead of looming tariffs.
Traders are hoping there may be room for flexibility around recently-announced trade policies, after Trump hinted earlier this week that not all tariffs would kick in on April 2, and that some countries may be exempt.
Oil prices - a catalyst for the Gulf's financial markets - initially rose on U.S. plans for additional tariffs on buyers of Venezuelan oil and gas, and a larger-than-expected drop in U.S. crude inventories.
But the impact was later mitigated by the U.S.-brokered maritime security and energy truce between Russia and Ukraine.
Saudi Arabia's benchmark index (.TASI), opens new tab advanced 2.3%, led by a 3% rise in Al Rajhi Bank (1120.SE), opens new tab and a 2.1% increase in oil giant Saudi Aramco (2222.SE), opens new tab.
"The Saudi bourse exhibited strong positive performance, showing improved sentiment after a period of uncertainty," Joseph Dahrieh, managing principal at TickmillAll, said, adding that all sectors traded positively on Wednesday.
"The energy sector extended its rebound, benefiting from the recent two-week oil price recovery, with Aramco also posting gains," he said.
In Qatar, the index (.QSI), opens new tab added 0.3%, helped by a 0.3% rise in the Gulf's biggest lender by assets, Qatar National Bank (QNBK.QA), opens new tab.
The Abu Dhabi index (.FTFADGI), opens new tab edged 0.2% higher.
Dubai's main share index (.DFMGI), opens new tab, however, finished flat, despite budget airline Air Arabia's (AIRA.DU), opens new tab 8.9% plunge. Emirates Integrated Telecommunications (DU.DU), opens new tab also retreated 3.2%. Both stocks traded ex-dividend.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab eased 0.1%, with EFG Holding (HRHO.CA), opens new tab slipping 1.7%.
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