Gate Capital News Letter | Issue 769

Agility Global, the owner of airport ground handling firm Menzies Aviation, has agreed to divest its entire stake in Dubai-based Tristar Holdings for a total consideration of $581 million to India’s Aegis Logistics, an integrated oil, gas and chemical logistics company. The sale puts Tristar’s enterprise value at $1.5 billion and its equity value at $882 million, the conglomerate and investment firm headquartered in Abu Dhabi said in a statement late Tuesday.

Abu Dhabi’s Mubadala Capital will move ahead with a $6.2 billion acquisition of US billboard operator Clear Channel Outdoor after the firm received clearance from the Committee on Foreign Investment in the United States (CFIUS).

The acquisition, being done in partnership with TWG Global, is expected to close by October 14, subject to remaining customary closing conditions, CCO said

The Dubai Integrated Economic Zones Authority (DIEZ) has announced the doubling of the venture capital fund managed by its investment arm, Oraseya Capital, from AED500 million to AED1 billion.

The expansion aims to strengthen Oraseya Capital’s capacity to support companies with global growth potential, while reinforcing its role in the entrepreneurship and innovation ecosystem, and contributing to the objectives of the Dubai Economic Agenda, D33, further supporting Dubai’s position as a global hub for venture capital and future industries.

The Mohammed bin Rashid Leadership Forum brought together government and private sector leaders and experts to reflect on Dubai’s achievements and explore opportunities to shape its next phase of development across various fields.

AESG, a leading global engineering, consultancy and advisory firm, has announced the acquisition of The Energy Project (TEP), one of Australia’s leading specialist renewable and distributed-energy consultancies.

Saudi Arabia’s King Salman Energy Park and China’s Dalipal Holdings have signed a 25-year lease as part of a $2.1 billion deal to build an advanced energy equipment manufacturing base in the Kingdom.

Funding Souq, a Saudi-based Shariah-compliant crowdfunding and SME financing platform regulated by the Saudi Central Bank (SAMA) and the Dubai Financial Services Authority  (DFSA), today announced a strategic investment from Foodics, the leading restaurant operations and financial technology platform in MENA, making Foodics a major investor in this round.

The investment brings together Funding Souq’s regulated financing infrastructure and expertise in SME credit with Foodics’ technology and data capabilities, supporting Funding Souq’s broader growth while creating new opportunities for embedded financing

Elsewedy Electric PSP has announced that its joint venture with Sinohydro, a leading global contractor, has secured the engineering, procurement, and construction (EPC) services contract for the Rabigh 2 Independent Power Plant (IPP) Expansion Project, one of the region’s most significant gas-fired combined-cycle developments with a total value of $2.2 billion.

Autobia, a Saudi B2B technology company building the future of the auto parts market, today announced that it has raised US$12.0 million in a Series A funding round led by Artal Capital, with participation from Aljazira Capital and Wa’ed Ventures.

Endeavor Catalyst, the venture capital arm of the global entrepreneurship network Endeavor, has closed its fifth fund at $320 million as it seeks to expand investments in technology startups outside traditional venture capital hubs.

UAE-based adtech startup JustAd has secured a $5 million investment from angel investor Imad Jomaa to support its expansion into new markets. The funding round’s stage and the company’s valuation were not disclosed.

Syrian healthtech startup Alo Hakeem has closed a $165,000 Pre-Seed funding round led by EBLA Ventures as it prepares to launch its mobile application and expand access to home healthcare services across Syria.

The funding will support the development of its technology infrastructure, expansion of its healthcare provider network and team, and the transition from its minimum viable product (MVP) to a full mobile application scheduled for public launch in November 2026.

SoftBank Group CEO Masayoshi Son is seeking to raise up to $100 billion from Gulf investors to fund a new wave of artificial intelligence investments, the Financial Times reported on Friday, citing people familiar with the matter.

Abu Dhabi’s Aldar has signed an AED1.1 billion ($300 million) forward purchase agreement with Sharjah-based developer Arada, marking its first real estate investment in the emirate.

Saudi Arabia led the fundraising for startups across the Middle East and North Africa (MENA) in the third quarter of 2026, with total investments reaching $1 billion, according to a report by Wamda and Digital Digest.

The funding, spread across 62 deals, accounts for roughly 60% of the total investments raised across the entire MENA region, which stood at $1.65 billion spread across 145 deals.

A joint venture between China Civil Engineering Construction Corporation and Abu Dhabi-based Tristar Engineering & Construction has secured a major contract worth AED10 billion ($2.7 billion) for the West Terminal substructure at Al Maktoum International airport, reported MEED.

Lucid Group, maker of the world’s most advanced software-defined vehicles and technologies, and the Saudi Logistics Academy (SLA) have announced a partnership to prepare Saudi talent for logistics and supply-chain roles supporting Lucid’s Advanced Manufacturing Plant (AMP-2) in King Abdullah Economic City.

The Saudi Agricultural and Livestock Investment Co. is transferring the ownership of the National Grain Co. to its subsidiary, the National Grain Supply Co., known as SABIL. The transfer followed SALIC, a company owned by the Public Investment Fund, acquiring the remaining 50 percent stake in the National Grain Co. to take full ownership