Starwood Gets Approval for Dubai Office, Weighs Gulf Investments - Bloomberg
Starwood Capital Group LLC has been granted approval to operate from the Dubai International Financial Centre, the latest alternative asset manager to ramp up its presence in the booming region.
Starwood Capital (DIFC) Limited was authorized on October 17, according to a document seen by Bloomberg News. The firm is in the process of hiring personnel in the region and could consider deploying capital there, a person with knowledge of the plan said, asking not to be identified discussing internal deliberations.
A spokesperson for Starwood declined to comment.
The Gulf region is a crucial source of capital for the world’s largest alternative asset managers, with the UAE’s many sovereign wealth funds and high net worth investors among their biggest investors. At the same time there is growing pressure on firms raising capital in the region to also considering deploying it there as political leaders seek inward investment.
Dubai’s property market is also in the midst of a boom as the emirate is inundated with high earners lured by its low taxes. International investors including Brookfield Asset Management have followed, building and selling vast office towers, snapping up warehouses and planning high end homes.
Starwood has more than $120 billion under management, 7,000 employees and 18 offices globally, according to its website. Outside the US it currently has bases in Amsterdam, Hong Kong, London, Luxembourg, Seoul, Singapore, Sydney and Tokyo but nothing in the Gulf region, the website shows.
The firm, founded by billionaire Chief Executive Officer Barry Sternlicht in 1991, has more recently been ramping up its data center investments and this year raised $2.8 billion for its US, European and Australian real estate debt funds. In June it led a group of investors that won approval for the $7 billion privatization of Hong Kong-listed warehouse operator ESR Group.
Monday, 20 October 2025
Invest Bank launches Islamic banking window
Invest Bank launches Islamic banking window
Invest Bank announced that it has obtained an Islamic banking window licence from the Central Bank of the United Arab Emirates (UAE).
This milestone marks a significant moment in the bank's transformational journey, opening opportunities to expand its range of products and services to include best-in-class Sharia-compliant financial solutions for individuals and businesses in the UAE.
Edris Al Rafi, CEO of Invest Bank, said, "Sharia-compliant banking is a vital part of our community, aligning with the core goal of integrating banking activities with Islamic values, thereby promoting economic growth and ensuring social welfare.
The Central Bank of the UAE's approval of Invest Bank's Islamic banking window license reinforces the country's regulatory body's confidence in the bank's ability to provide inclusive and customer-focused financial services that meet the highest social and economic standards in the region.
With the sector expected to grow at a CAGR of 9.15 percent between 2025 and 2033, our new Invest Bank Islamic business window will offer a range of Sharia-compliant solutions that deliver maximum financial value to our customers."
Invest Bank has duly disclosed to the Abu Dhabi Securities Exchange (ADX) that it will be offering Islamic banking services and products to its customers.
Invest Bank announced that it has obtained an Islamic banking window licence from the Central Bank of the United Arab Emirates (UAE).
This milestone marks a significant moment in the bank's transformational journey, opening opportunities to expand its range of products and services to include best-in-class Sharia-compliant financial solutions for individuals and businesses in the UAE.
Edris Al Rafi, CEO of Invest Bank, said, "Sharia-compliant banking is a vital part of our community, aligning with the core goal of integrating banking activities with Islamic values, thereby promoting economic growth and ensuring social welfare.
The Central Bank of the UAE's approval of Invest Bank's Islamic banking window license reinforces the country's regulatory body's confidence in the bank's ability to provide inclusive and customer-focused financial services that meet the highest social and economic standards in the region.
With the sector expected to grow at a CAGR of 9.15 percent between 2025 and 2033, our new Invest Bank Islamic business window will offer a range of Sharia-compliant solutions that deliver maximum financial value to our customers."
Invest Bank has duly disclosed to the Abu Dhabi Securities Exchange (ADX) that it will be offering Islamic banking services and products to its customers.
Most Gulf markets end lower on weak oil | Reuters
Most Gulf markets end lower on weak oil | Reuters
Most stock markets in the Gulf ended lower on Monday, pressured by weak oil prices, while investors awaited more corporate earnings reports.
Oil prices - a catalyst for the Gulf's financial markets - dipped, pressured by worries over a global glut as U.S.-China trade tensions added to concerns about an economic slowdown and weaker energy demand.
Saudi Arabia's benchmark index (.TASI), opens new tab dropped 0.4%, extending losses from the previous session, with ACWA Power Company (2082.SE), opens new tab retreating 3.7%.
ACWA Power on Sunday obtained non-recourse project financing totaling 10.8 billion riyals ($2.88 billion) for the Qurayyah independent power plant expansion project.
Among other losers, oil giant Saudi Aramco (2222.SE), opens new tab was down 0.4%.
However, Saudi National Bank (1180.SE), opens new tab - the country's biggest lender by assets - advanced 1.7% after reporting about a 20% increase in third-quarter net profit.
The market's direction for the week will likely depend on forthcoming earnings reports, as further strong results from the banking sector could sustain the recent upward trend, said Hani Abuagla, senior market analyst at XTB MENA.
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"Conversely, declining oil prices continue to pose a risk."
Dubai's main share index (.DFMGI), opens new tab dropped 0.6%, weighed down by a 2.8% fall in top lender Emirates NBD (ENBD) (ENBD.DU), opens new tab.
ENBD will buy a 60% stake in Indian private lender RBL Bank (RATB.NS), opens new tab for $3 billion, the banks said on Saturday. Shares of the Dubai-based lender jumped over 6% last week on reports of the stake purchase.
In Abu Dhabi, the index (.FTFADGI), opens new tab lost 0.3%.
Softer oil prices pose a risk of capping gains even from positive corporate results, casting a shadow over the market, Abuagla said.
The Qatari index (.QSI), opens new tab closed down 0.3%, with petrochemical maker Industries Qatar (IQCD.QA), opens new tab declining 0.6%.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab rose 0.2%, hitting a new record high, helped by a 1.4% rise in Egypt Aluminum (EGAL.CA), opens new tab.
Most stock markets in the Gulf ended lower on Monday, pressured by weak oil prices, while investors awaited more corporate earnings reports.
Oil prices - a catalyst for the Gulf's financial markets - dipped, pressured by worries over a global glut as U.S.-China trade tensions added to concerns about an economic slowdown and weaker energy demand.
Saudi Arabia's benchmark index (.TASI), opens new tab dropped 0.4%, extending losses from the previous session, with ACWA Power Company (2082.SE), opens new tab retreating 3.7%.
ACWA Power on Sunday obtained non-recourse project financing totaling 10.8 billion riyals ($2.88 billion) for the Qurayyah independent power plant expansion project.
Among other losers, oil giant Saudi Aramco (2222.SE), opens new tab was down 0.4%.
However, Saudi National Bank (1180.SE), opens new tab - the country's biggest lender by assets - advanced 1.7% after reporting about a 20% increase in third-quarter net profit.
The market's direction for the week will likely depend on forthcoming earnings reports, as further strong results from the banking sector could sustain the recent upward trend, said Hani Abuagla, senior market analyst at XTB MENA.
Advertisement · Scroll to continue
"Conversely, declining oil prices continue to pose a risk."
Dubai's main share index (.DFMGI), opens new tab dropped 0.6%, weighed down by a 2.8% fall in top lender Emirates NBD (ENBD) (ENBD.DU), opens new tab.
ENBD will buy a 60% stake in Indian private lender RBL Bank (RATB.NS), opens new tab for $3 billion, the banks said on Saturday. Shares of the Dubai-based lender jumped over 6% last week on reports of the stake purchase.
In Abu Dhabi, the index (.FTFADGI), opens new tab lost 0.3%.
Softer oil prices pose a risk of capping gains even from positive corporate results, casting a shadow over the market, Abuagla said.
The Qatari index (.QSI), opens new tab closed down 0.3%, with petrochemical maker Industries Qatar (IQCD.QA), opens new tab declining 0.6%.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab rose 0.2%, hitting a new record high, helped by a 1.4% rise in Egypt Aluminum (EGAL.CA), opens new tab.
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