Gate Capital News Letter | Issue 732

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has announced a landmark structured funding transaction valued at $500 million to Mass Group Holding.

The funding will be used to construct a natural gas fired power plant with an impressive capacity of 1.7GWh, in Romania, set to be the largest of its kind in Europe.

Abu Dhabi–based conglomerate Alpha Dhabi Holding plans to invest 30 billion dirhams ($8 billion) over the next five years, with recent divestments providing additional funding for growth, Derek Nicholson, Chief Strategy Officer at Alpha Dhabi.

Divestments such as Alpha Dhabi’s exit from Modon, which generated AED 5.3 billion.

Abu Dhabi’s Ethmar International Holding (EIH) has teamed up with Guggenheim Brothers Media (GB Media) to set up a new multi-million-dollar investment fund to support the next generation of media and technology firms

The fund is led by Dillon Lawson-Johnston, the great-great-grandson of New York City’s Guggenheim Museum founder, and Criswell Fiordalis, an expert in the entertainment and media industry.

The Saudi Venture Capital Co. has announced that venture capital in Saudi Arabia achieved two historic leaps in 2025, in terms of investment volume and number of deals. The Kingdom also reinforced its leading position in the Middle East region for the third consecutive year in terms of venture capital volume, a clear impact of the Saudi Vision 2030.

Shamal Az-Zour Al-Oula Power and Water Co. received, on Jan. 6 , a notice indicating that Italy’s Engie has completed the transfer of its stake in Az-Zour North power and water plant to ACWA Power Co., according to a Boursa Kuwait statement.

Merak Capital, a Saudi investment firm licensed by the Capital Market Authority, has completed a SAR 203 million (USD 54 million) investment in DSShield, one of Saudi Arabia’s fastest-growing cybersecurity companies.

Saudi Arabia raised $13 billion through a seven-year syndicated loan as the Kingdom steps up funding for infrastructure projects spanning power, water and public utilities. The financing was arranged by the National Debt Management Center as part of the government’s medium-term borrowing strategy, which aims to diversify funding sources and secure financing at competitive costs, the agency said in a statement.

The transaction supports Saudi Arabia’s broader push to upgrade infrastructure under its Vision 2030 economic transformation program, as the government accelerates investment in utilities and development projects alongside private-sector participation

Abu Dhabi National Energy Company PJSC (TAQA), in partnership with Emirates Water and Electricity Company (EWEC), has achieved financial close on the approximately AED 3.6 billion, 1 GW Al Dhafra Power Plant, a major infrastructure project aimed at supplying electricity to data centre developments.

Red Sea Global (RSG), the developer behind regenerative tourism destinations The Red Sea and AMAALA, has announced a strategic partnership with Bunat Ventures Limited (Bunat VC) to launch a first-of-its-kind venture fund focused on artificial intelligence (AI)-driven startups in the Kingdom of Saudi Arabia.

Saudi proptech startup Aamar has announced the closing of a Seed funding round exceeding $4 million, aimed at simplifying and automating leasing and asset-finance operations through AI-powered solutions.

AI-powered cloud optimisation startup MilkStraw AI has raised $2 million in seed funding in a round led by VentureSouq, with participation from Ibtikar Fund and M Capital. MilkStraw, founded in the US in 2023 by Jawad Shreim, develops software that automates and optimises cloud infrastructure costs for businesses.

Egyptian SaaS company FitXpert has secured a seven-figure strategic investment from Foras Investment, marking the start of a new growth phase as the company prepares to scale its platform and expand across regional markets.

The investment was completed under the 0107 Invest initiative and reflects growing investor appetite for vertical SaaS businesses with proven infrastructure and market traction, particularly in healthcare, wellness, and lifestyle sectors.

Alamar Foods Co. signed a sale and purchase agreement (SPA) to acquire 100% of Cravia Co. for SAR 85 million, subject to downward adjustment based on certain conditions in the SPA.

Abu Dhabi National Company for Building Materials (BIildco) obtained the approval of the Securities and Commodities Authority (SCA) to increase its share capital from 300 million shares to 1.50 billion shares.

SABIC is divesting its European petrochemicals business and its engineering thermoplastics business in Europe and Americas for a total combined enterprise value of $950 million, the Saudi chemicals major said on Thursday.

SABIC has agreed to sell its European petrochemicals business to German asset management firm AEQUITA at an enterprise value of $500 million.

Dubai-based Alcazar is close to clinching the deal to buy Egypt’s Gabel El-Zeit wind farm after offering the best price among bidders. The company is engaged in negotiations with Egypt’s sovereign wealth fund and the Ministry of Electricity and Renewable Energy for a final deal, which could be worth $350 million.

Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region, has completed its inaugural dual-tranche $1 billion sustainable bond issuance under its Euro Medium Term Note (EMTN) Programme.

Jazan Development and Investment Company (Jazadco) has renewed a Sharia-compliant working capital facility valued at SAR 15 million with Arab National Bank (ANB). The funding is aimed at supporting Jazadco’s aquaculture and agricultural operations, according to a bourse filing.