Investcorp Chair Sees IPO Market Improving in the Gulf - Bloomberg
The outlook for initial public offerings is getting better in Gulf markets, according to Investcorp’s Executive Chairman Mohammed Alardhi.
“The IPO market is improving in the Gulf for sure,” Alardhi said in an interview with Bloomberg Television at Davos. The region offers “a very compelling long-term investment market,” he added.
The Middle East’s initial offering boom started losing steam last year as valuations came under scrutiny and oil prices stayed well below their peak. Still, some upcoming listings might boost momentum this year, while Saudi Arabia is opening up its equities to all foreign investors.
Alardhi said that his firm is looking at infrastructure opportunities in the Gulf. Last May, Investcorp agreed to invest in a $550 million infrastructure project in Oman through its joint venture with a unit of Aberdeen Group Plc.
An alternative asset manager, Investcorp has about $60 billion in assets under management with offices globally.
While the firm continues to be weigh a liquidity event down the line, like an IPO or a deal with a strategic investor, “there is nothing concrete at the moment,” according to Alardhi.
Monday, 19 January 2026
#Dubai, #SaudiArabia Property Markets Set to Vie for Investor Attention - Bloomberg
Dubai, Saudi Arabia Property Markets Set to Vie for Investor Attention - Bloomberg
Dubai’s real estate market closed 2025 with another record-breaking performance, but some global investor attention may shift to Saudi Arabia this year.
The kingdom has spent the past several months overhauling its property market. Officials imposed an unprecedented five-year rent freeze in Riyadh and quadrupled taxes on undeveloped land, measures aimed at pushing owners to build. The most significant change arrives this month, when new rules will allow foreigners to own property in the kingdom.
Once the law takes effect, non-Saudis will be able to buy residential, commercial, agricultural and industrial property in designated zones across Riyadh, Jeddah, and the holy cities of Mecca and Madinah.
It’s a long-anticipated step that developers hope will draw buyers and international investors to a market that remained largely off-limits to foreigners for decades.
The law is also expected to breathe new life into Saudi projects that the government started but may struggle to finance on its own, such as Diriyah and Qiddiya, which are near population centers and likely to see quicker returns. Foreign developers, suppliers and contractors will be able to enter the market through joint ventures with local firms on a more even footing once the law comes into force, experts say.
Yet even as the country draws more overseas capital, it will need to ensure sufficient housing supply so local Saudis aren’t priced out.
Saudi Arabia’s push comes as Dubai continues to set the standard for regional property markets.
The emirate delivered another strong year for investors in 2025, extending the longest real-estate rally in its history despite warnings about oversupply and bubble risk.
The value of property transactions rose 20% from 2024 to 917 billion dirhams ($250 billion), government data show.
At the top end of the market, demand continued to surge. About 500 homes sold for more than $10 million, according to Knight Frank, including a record 68 transactions above $25 million. Total deal value in this segment rose nearly 28% to $9.05 billion.
Meanwhile, off-plan sales accounted for 76% of all residential transactions, according to ValuStrat, a segment that has increasingly attracted ultra-wealthy buyers and sparked bidding wars. Overseas investors and residents opting to swap high rents for mortgage payments have helped fuel demand, said Haider Tuaima, who heads real estate research at ValuStrat.
Still, a wave of new supply — which had prompted Fitch Ratings to forecast a “moderate correction” heading into 2026 — is beginning to cool rents. “Rental growth has slowed and in some areas stabilized completely,” Tuaima said.
Dubai’s real estate market closed 2025 with another record-breaking performance, but some global investor attention may shift to Saudi Arabia this year.
The kingdom has spent the past several months overhauling its property market. Officials imposed an unprecedented five-year rent freeze in Riyadh and quadrupled taxes on undeveloped land, measures aimed at pushing owners to build. The most significant change arrives this month, when new rules will allow foreigners to own property in the kingdom.
Once the law takes effect, non-Saudis will be able to buy residential, commercial, agricultural and industrial property in designated zones across Riyadh, Jeddah, and the holy cities of Mecca and Madinah.
It’s a long-anticipated step that developers hope will draw buyers and international investors to a market that remained largely off-limits to foreigners for decades.
The law is also expected to breathe new life into Saudi projects that the government started but may struggle to finance on its own, such as Diriyah and Qiddiya, which are near population centers and likely to see quicker returns. Foreign developers, suppliers and contractors will be able to enter the market through joint ventures with local firms on a more even footing once the law comes into force, experts say.
Yet even as the country draws more overseas capital, it will need to ensure sufficient housing supply so local Saudis aren’t priced out.
Saudi Arabia’s push comes as Dubai continues to set the standard for regional property markets.
The emirate delivered another strong year for investors in 2025, extending the longest real-estate rally in its history despite warnings about oversupply and bubble risk.
The value of property transactions rose 20% from 2024 to 917 billion dirhams ($250 billion), government data show.
At the top end of the market, demand continued to surge. About 500 homes sold for more than $10 million, according to Knight Frank, including a record 68 transactions above $25 million. Total deal value in this segment rose nearly 28% to $9.05 billion.
Meanwhile, off-plan sales accounted for 76% of all residential transactions, according to ValuStrat, a segment that has increasingly attracted ultra-wealthy buyers and sparked bidding wars. Overseas investors and residents opting to swap high rents for mortgage payments have helped fuel demand, said Haider Tuaima, who heads real estate research at ValuStrat.
Still, a wave of new supply — which had prompted Fitch Ratings to forecast a “moderate correction” heading into 2026 — is beginning to cool rents. “Rental growth has slowed and in some areas stabilized completely,” Tuaima said.
#Qatar Wealth Fund CEO Signals Nuanced Approach to AI Investments - Bloomberg
Qatar Wealth Fund CEO Signals Nuanced Approach to AI Investments - Bloomberg
Qatar’s wealth fund, which has made a series of high-profile bets on artificial intelligence and digital infrastructure in recent months, plans to take a more selective approach to the sector in the year ahead.
“The intersection between AI and other industries is very important,” Chief Executive Officer Mohammed Al-Sowaidi said in an interview in Davos. After five or six years of building a business, investors should be able to assess revenue potential, implementation and productivity gains, he said. “Those are the businesses we’ll back more significantly.”
“The thing we worry about in AI innovation is short-term heat,” he added, pointing to businesses that trade on momentum rather than building models that prove valuable over the long term.
Alongside regional wealth fund giants, the QIA has become a significant backer of technology firms. In December, its newly-created subsidiary Qai partnered with Brookfield Asset Management on a $20 billion venture to invest in AI infrastructure. That followed QIA’s participation in a $13 billion funding round for Silicon Valley startup Anthropic and a $3 billion data-center venture with Blue Owl Capital Inc.
QIA, which oversees an estimated $580 billion, has also backed xAI and Databricks, as well as smaller but “very fundamental” companies, including a call-center optimization firm, Al-Sowaidi said.
The fund will focus on sectors such as financial services and industrials that stand to benefit most from AI-driven productivity gains. It will also continue to invest in minerals, commodities and data centers, with further announcements expected from Qai, he said.
Qatar’s pledge — made during President Donald Trump’s visit to the Middle East in May — to invest an additional $500 billion in the US over the next decade is progressing as planned, Al-Sowaidi said. “There is a probability within the 10 years we actually deploy much more than the $500 billion.”
The US remains central to the fund’s strategy, he said, noting that while it accounts for about 30% of global GDP, it represents roughly 60% of the investable universe. “You cannot be a long-term investor and not have a significant exposure to the United States.”
Qatar’s wealth fund, which has made a series of high-profile bets on artificial intelligence and digital infrastructure in recent months, plans to take a more selective approach to the sector in the year ahead.
“The intersection between AI and other industries is very important,” Chief Executive Officer Mohammed Al-Sowaidi said in an interview in Davos. After five or six years of building a business, investors should be able to assess revenue potential, implementation and productivity gains, he said. “Those are the businesses we’ll back more significantly.”
“The thing we worry about in AI innovation is short-term heat,” he added, pointing to businesses that trade on momentum rather than building models that prove valuable over the long term.
Alongside regional wealth fund giants, the QIA has become a significant backer of technology firms. In December, its newly-created subsidiary Qai partnered with Brookfield Asset Management on a $20 billion venture to invest in AI infrastructure. That followed QIA’s participation in a $13 billion funding round for Silicon Valley startup Anthropic and a $3 billion data-center venture with Blue Owl Capital Inc.
QIA, which oversees an estimated $580 billion, has also backed xAI and Databricks, as well as smaller but “very fundamental” companies, including a call-center optimization firm, Al-Sowaidi said.
The fund will focus on sectors such as financial services and industrials that stand to benefit most from AI-driven productivity gains. It will also continue to invest in minerals, commodities and data centers, with further announcements expected from Qai, he said.
Qatar’s pledge — made during President Donald Trump’s visit to the Middle East in May — to invest an additional $500 billion in the US over the next decade is progressing as planned, Al-Sowaidi said. “There is a probability within the 10 years we actually deploy much more than the $500 billion.”
The US remains central to the fund’s strategy, he said, noting that while it accounts for about 30% of global GDP, it represents roughly 60% of the investable universe. “You cannot be a long-term investor and not have a significant exposure to the United States.”
Most Gulf markets gain on easing geopolitical tensions; Egypt at record high | Reuters
Most Gulf markets gain on easing geopolitical tensions; Egypt at record high | Reuters
Most Gulf stock markets ended higher on Monday as regional geopolitical tensions eased, while Saudi Arabia's benchmark index finished flat amid soft oil prices and profit-taking.
Iran's lethal crackdown appears to have largely subdued the protests for now, residents said on Friday, as state media reported further arrests.
U.S. President Donald Trump also appeared to soften his earlier intervention threats, posting on social media that Iran had halted alleged plans for mass executions of protesters, though Iranian authorities had made no such announcement.
Dubai's main share index (.DFMGI), opens new tab advanced 0.4%, with blue-chip developer Emaar Properties (EMAR.DU), opens new tab rising 1% and Sharia-compliant lender Dubai Islamic Bank (DISB.DU), opens new tab advancing 1.4%.
In Abu Dhabi, the benchmark index (.FTFADGI), opens new tab finished 0.5% higher.
In the UAE, equities extended last week's gains, underpinned by optimism around the earnings season. Both Dubai and Abu Dhabi posted broad-based advances, supported by solid fundamentals and expectations of strong results, though oil-price swings remain a key risk for sentiment, said Milad Azar Market analyst at XTB MENA.
The Qatari index (.QSI), opens new tab gained 0.7%, led by a 1.5% gain in petrochemical maker Industries Qatar (IQCD.QA), opens new tab.
Saudi Arabia's benchmark index (.TASI), opens new tab concluded flat.
Traders are awaiting further fourth-quarter earnings releases this week as the season kicks off.
While the market relies on solid economic fundamentals and a 4.5% growth projection for 2026, volatile oil prices and geopolitical uncertainty continue to pose risks, said Azar.
Oil prices, a catalyst for the Gulf's financial markets, were down after rising in the previous session as civil unrest in Iran subsided.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab leapt 2.5%, closing at an all-time high, as most of the stocks were in positive territory.
Most Gulf stock markets ended higher on Monday as regional geopolitical tensions eased, while Saudi Arabia's benchmark index finished flat amid soft oil prices and profit-taking.
Iran's lethal crackdown appears to have largely subdued the protests for now, residents said on Friday, as state media reported further arrests.
U.S. President Donald Trump also appeared to soften his earlier intervention threats, posting on social media that Iran had halted alleged plans for mass executions of protesters, though Iranian authorities had made no such announcement.
Dubai's main share index (.DFMGI), opens new tab advanced 0.4%, with blue-chip developer Emaar Properties (EMAR.DU), opens new tab rising 1% and Sharia-compliant lender Dubai Islamic Bank (DISB.DU), opens new tab advancing 1.4%.
In Abu Dhabi, the benchmark index (.FTFADGI), opens new tab finished 0.5% higher.
In the UAE, equities extended last week's gains, underpinned by optimism around the earnings season. Both Dubai and Abu Dhabi posted broad-based advances, supported by solid fundamentals and expectations of strong results, though oil-price swings remain a key risk for sentiment, said Milad Azar Market analyst at XTB MENA.
The Qatari index (.QSI), opens new tab gained 0.7%, led by a 1.5% gain in petrochemical maker Industries Qatar (IQCD.QA), opens new tab.
Saudi Arabia's benchmark index (.TASI), opens new tab concluded flat.
Traders are awaiting further fourth-quarter earnings releases this week as the season kicks off.
While the market relies on solid economic fundamentals and a 4.5% growth projection for 2026, volatile oil prices and geopolitical uncertainty continue to pose risks, said Azar.
Oil prices, a catalyst for the Gulf's financial markets, were down after rising in the previous session as civil unrest in Iran subsided.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab leapt 2.5%, closing at an all-time high, as most of the stocks were in positive territory.
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